Ad-Express and Daily Iowegian, Centerville, IA

Local News

March 11, 2010

Democrats to trim tax credits

DES MOINES — Legislative Democrats say they will slash spending on state tax credits by $115 million and put in place new oversight for programs that remain.

Democratic Sen. Joe Bolkcom, of Iowa City, says the changes will take spending on tax credits off automatic pilot.

The package unveiled Thursday would suspend for two years a tax credit program aimed at attracting moviemakers to Iowa, slash $65 million from business tax credits and refocus a tax credit for research. The research tax credit would be cut in half for companies with revenues of more than $20 million a year, and increased by 50 percent for smaller companies.

Lawmakers are taking a closer look at the state's tax credit program after alleged abuses in film tax credit program were uncovered last fall.

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This week the Iowegian wants readers to think about President Barack Obama. Since Barack Obama was elected president, two significant things have occurred: The military repealed the "Dont' Ask, Don't Tell" policy allowing gays and lesbians to openly serve and just recently he publicly said he supports gay marriage. For some, these actions signal a shift away from God, morality and threatens national security. Others say it's about time people in same-sex relationships can wed and openly gay service members do not threaten national security. Now, depending on who you listen to, President Obama is the first "gay" president of the United States. Is that something to worry about? So, the question this week is, "President Barack Obama, the first "gay" president of the United States. Is it cause for concern?"

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