(Des Moines) On March 15, State Senator Chris Brase of Muscatine helped pass legislation that will benefit thousands of Iowa farmers, teachers, small business owners and college students. House File 2433, which “couples” Iowa’s tax code with recent federal tax changes, was approved on a 50-0 vote on Tuesday, March 15.
“I strongly support this bipartisan legislation and am glad the Iowa Senate approved it with overwhelming support,” said Brase. “Farmers and small business owners will be able to take a larger deduction for new equipment purchased during 2015. Iowa teachers will be able to deduct $250 for classroom expenses, and college students will be able to deduct more education expenses.
The effort to bring Iowa’s tax laws into alignment with federal tax changes was delayed by the U.S. Congress. It then became the subject of bipartisan negotiations at the Iowa Statehouse.
“The fact that every Democratic and Republican Senator voted for House File 2433 is a very good sign,” said Brase. “I believe it will be quickly signed by Governor Branstad.”