“. . . the Iowa House has approved a
package of incentives to encourage more film production and development in Iowa.
House File 892 creates . . . a variety of tax
incentives . . . will provide . . . an income tax credit . . .also allows an Iowa-based business an investment tax credit . . . Finally, it has an income tax exclusion . . .
“These incentives will assist film makers with the expenses of producing a film, and make Iowa more competitive with other states that already have incentives for film projects. “
By Speaker of the House Pat Murphy
“I never made an investment decision based on the tax code. . . .[I]f you are giving away money, I will take it. If you want to give me inducements for something I am going to do anyway, I will take it. But good business people do not do things because of inducements, they do it because they can see they are going to be able to earn the cost of captital out of their own intelligence and organization of resources.”
By Paul O’Neill, former CEO, Alcoa and former Secretary of the Treasury, quoted in THE GREAT AMERICAN JOBS SCAM
1 Comment
I think every serious study has shown
that these kind of tax incentives do not create jobs and amount to corporate welfare.
Just one more reason to be disappointed in Pat Murphy’s leadership. If he can find the money for this, he should be able to fund voter owned elections.
desmoinesdem Tue 17 Apr 2:48 PM