Iowa Gop Compromise Tax-cut Plan Unveiled

DES MOINES — After weeks of closed-door negotiations, Gov. Kim Reynolds and GOP leaders in the House and Senate on late Friday afternoon announced what they hailed as the largest tax relief and reform package in Iowa history.Negotiators did not include an overall price tag for the plan, but they said families and small business owners will receive $398 million in income tax relief in 2019 by providing an average tax reduction of nearly 10 percent.When fully implemented by 2023, the plan will reduce the number of individual income brackets from the current nine to four, with a top rate of 6.5 percent.