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Iowa Gov. Kim Reynolds signed a nearly $1 billion tax cut into law Wednesday that will lower the state’s personal income tax to a flat rate of 3.8% in 2025. ⁠ ⁠ The top income tax rate was 8.98% when Reynolds took office in 2017. The Republican trifecta started cutting income taxes in 2018, making deeper and deeper cuts without waiting for them to fully phase in. ⁠ ⁠ Reynolds said after all that, the state still had a large budget surplus and billions of dollars in the Taxpayer Relief Fund. She
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