Iowa Business Council’s 2025 legislative agenda aims to further tax competitiveness, support workforce growth
Business Record Staff Dec 10, 2024 | 2:38 pm
1 min read time
284 wordsAll Latest News, Economic Development, Government Policy and LawThe Iowa Business Council (IBC) today announced its public policy priorities for the 2025 legislative session, which begins Jan. 13.
The nonpartisan, nonprofit organization made up of the top leaders from 21 of Iowa’s largest employers will focus its legislative agenda at the state and federal level on competitive tax policy and workforce initiatives, a news release said.
According to the release, the IBC will focus on “maximizing” recent efforts to make Iowa’s tax system more competitive, looking toward a long-term goal of reaching a top-15 most competitive state ranking in the individual, corporate and property tax climates.
The organization will engage on federal tax policy issues as the 2017 Tax Cuts and Jobs Act is set to expire on Dec. 31, 2025, the release said. The IBC will advocate for preserving reductions to the individual and corporate income tax rates, expensing research and development investments and the extension of bonus depreciation.
The IBC will continue to advocate for initiatives that help grow Iowa’s workforce, including work-based learning programs, child care, housing and mental health care, the release said. Specifically on mental health policy, the IBC will target increasing the supply of mental health professionals and exploring increasing public funding mechanisms.
On a federal level, the IBC will continue to support federal immigration reform and modernization as a tool to boost economic development and population growth, according to the release. Initiatives the IBC advocates for include increasing visa caps, expediting processing and providing efficient opportunities to retain foreign-born talent who were educated at an Iowa higher education institution.
IBC President Joe Murphy will be a panelist for the Business Record’s Legislative Forecast event, scheduled for Tuesday, Jan. 14, from noon to 1 p.m.