Republican gubernatorial candidate Rod Roberts is calling for the elimination of the state corporate income tax to help create jobs for unemployed Iowans. The state’s unemployment rate increased to 6.7% for the month of November, which is one of the highest unemployment rates for the state since the 1980s. Roberts says the state can reduce its unemployment rate by creating a better business climate in Iowa through the elimination of the corporate income tax.
“We need bold solutions to tackle Iowa’s historic unemployment rate,” said Roberts, a five-term State Representative from Carroll. “Out-of-work Iowans and their families are struggling. Elimination of the state corporate income tax will help put Iowans back to work in 2010.”
Roberts points out that the U.S. News and World Report earlier this year called Iowa the second-worst state in the country to start a new business. Iowa needs to change the perception that it is “bad for business,” according to Roberts. He says that elimination of the corporate income tax will lure new companies to the state that will ultimately provide new jobs to help the over 113,000 Iowans who are currently out of work.
“The unemployment rate is as high as it has been in over 20 years. Iowans need action” said Roberts, an Assistant Minority Leader in the Iowa House of Representatives. “By eliminating the corporate income tax, not only will new businesses be drawn to the state for its lower taxes, but existing Iowa businesses will also be in a better economic position to add employees.”
Roberts notes that his plan to eliminate the corporate income tax shows how he fundamentally disagrees with Governor Culver on how to put Iowans back to work. Governor Culver and legislative Democrats have borrowed millions of dollars to fund a government-run program called I-JOBS that will provide payments for select business ventures. Roberts disagrees with this government-run plan to create jobs.
“The private sector is better suited to create jobs than state government,” said Roberts. “Iowa businesses have long-term success because of entrepreneurship, good management, and hard-working employees. It’s unclear how the Governor’s plan to dole out taxpayer dollars to select business ventures will encourage these good business practices.”
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