An Iowa House committee's approved a GOP backed plan that would give taxpayers the option of paying a 4.5% flat tax on their earnings instead of the graduated income tax. The Des Moines Register reports the State Revenue Department found higher income earners would get much bigger savings than those making $20,000/year or less. Over half the $400-million in projected savings under the flat tax would go to people earning over $150,000 a year.
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