It was fascinating Tuesday to see Iowa lawmakers talking about zero-based budgeting — starting every budget from scratch — when they have refused to do the same with tax credits.
Spending on tax credits — including millions to companies that don’t pay any state income tax — just keeps going on and on.
Companies basically get to appropriate state money to themselves. Quite a deal if you can get it.
If the state were to sunset business tax credits, as recommended in 2010 by a special governor-appointed Tax Credit Review Panel, lawmakers could review each one and decide which are actually producing a public benefit, whether any of them are money well spent. If so, they could renew the credit. If not, we could put our resources where they make more sense for all Iowans.
Maybe a part-time legislature could start with a zero base on tax credits before we talk about it for an entire state budget.