Using Iowa surplus for tax credits draws Dems' criticism

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Posted: Thursday, February 7, 2013 12:00 am

DES MOINES (AP) — A Republican proposal to use Iowa's budget surplus for tax credits drew criticism Wednesday from Democrats, who argued that the money should go to programs or services.

A House subcommittee discussed Republican-sponsored legislation that would use the state's surplus funds to provide credits to taxpayers. Rep. Peter Cownie, R-West Des Moines, said that individual taxpayers would get income tax credits of up to $369. He said the plan would cost more than $500 million and called it the best way to deal with the state's roughly $800 million surplus.

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