AUDIO: Agribusiness Matters 9-20-17
Congress is back in session with several items on their agenda. One of them is tax reform. The Iowa Bankers Association would like to see a bill passed by the end of the year.
?We really want tax equity. This is an issue for all the citizens of Iowa. We have very profitable non-taxpaying financial institutions. We?d like to help give them a path to citizenship by have them pay their own taxes,? Outgoing Chairman of the Iowa Bankers Association, Dave Nelson says.
He says many Iowans don?t realize they pay taxes for credit unions.
?People say ‘What do you mean I am paying the credit union taxes?? It is simple. If there is a bill that has to be paid and someone doesn?t pay it, the rest of us have to pay more.?
Nelson says this is an issue they?ve dealt with for a while.
?It is strange businesses who do the same line of work in the same industry get taxed differently. That is bizarre. Tax policy picks winners and losers and favors some over others but really it is a taxpayer issue. You are paying the subsidy so they should be justified or shouldn?t exist.?
The Iowa Bankers Association?s annual conference wrapped up in Des Moines Tuesday.
