The first bill to be introduced to the Iowa Senate for the current legislative session was penned by State Senator Jake Chapman, (R) District 10, and involves the repeal of the state’s inheritance tax.

Chapman also refers to it as the “Death Tax,” and it involves the taxation of estates after an individual passes away. He says it brings in around $90 million a year, and he introduced Senate File 1 in an attempt to keep that money in the hands of the heirs of the estates. “Frankly I just view this as a ‘plunder tax.’ This is a tax that its purpose is to redistribute wealth. And so I have been working with the chairman of the Ways and Means Committee, and it’s a bill that I’m going to be pushing hard for, for us to eliminate this tax here in Iowa. These are estates that people have worked hard to build to provide a better future for future generations, and I simply don’t believe the State of Iowa should be taking that money or putting a tax on those estates. So my bill calls for a full repeal starting July 1st of this year.”

The bill is currently being discussed at the subcommittee level, and Chapman is hopeful it will be brought to the floor early in the session. To learn more about this and other topics regarding the current legislative session, click the link below to listen to the most recent Perry Fareway Let’s Talk Dallas County program with Chapman.

https://raccoonvalleyradio.com/2019/01/lets-talk-dallas-county-1212019-jake-chapman/