Many people have already received their stimulus checks from the federal government through the Coronavirus Aid, Relief, and Economic Security (CARES) Act, and though they’re not currently in session, the Iowa Legislature is attempting to keep all the money in people’s pockets.
State Senator Jake Chapman, (R) District 10, says the two aspects of the Act he’s most focused on is the individual $1,200 checks and the forgivable small business loans through the Paycheck Protection Program (PPP). He wants to ensure that not a dollar of those economic stimulus payments is taxed by the state, and is working on a bill for when the Legislature reconvenes to take up that issue. “I’ve been working with our staff (and the) Department of Revenue to really get through figuring out the language of the CARES Act, how it impacts Iowans (and) Iowa businesses. And then address these concerns of making sure it’s not taxed, because I think that’s really counterproductive to what Congress has been trying to do with the CARES Act. And so we want to be a good partner in that and make sure that that money is going to relief and not going to supporting state government.”
To learn more about this and other legislative topics, listen to today’s Perry Fareway Let’s Talk Dallas County program on air and at RaccoonValleyRadio.com.