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Hinson, Corkery discuss economic vision and tax policy with business group • Iowa Capital Dispatch

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Hinson, Corkery discuss economic vision and tax policy with business group • Iowa Capital Dispatch

U.S. Rep. Ashley Hinson and Democratic candidate Sarah Corkery each told business leaders Wednesday at the Greater Des Moines Partnership that their economic policies would best benefit Iowa’s business community.

The 2nd Congressional District candidates each emphasized their commitment to helping small businesses but differed on the best economic policies to help Iowa families and businesses. They spoke separately during the organization’s candidate forum series in Des Moines.

U.S. Rep. Ashley Hinson spoke to business owners and community members at the Greater Des Moines Partnership as part of the organization’s candidate forum series Oct. 16, 2024. (Photo by Robin Opsahl/Iowa Capital Dispatch)

Hinson said if reelected, she is committed to extending the 2017 tax law signed by former President Donald Trump that is set to expire next year.

Hinson said if the Tax Cuts and Jobs Act is allowed to expire, average Iowa families already struggling with the impacts of inflation would have even less money coming in their paychecks.

“I see those (tax cuts) as critical,” Hinson said. “If we do nothing, then the average Iowa family will see a tax increase. In some cases, I think the average median income in my district is just under $70,000, so for a family of four, it’s the equivalent, I think we ran the numbers, the equivalent of about seven weeks worth of groceries.”

Hinson said the impacts of not renewing the Trump tax law would worsen economic difficulties caused by recent inflation. She shared a story about speaking with a local business owner of a leather and boots store during a visit to Waukon.

“She was saying, ‘Well, what’s the first thing to go when people don’t have extra resources?’ It’s that disposable income that they’re going to spend,” Hinson said. “So that is very, very real for our families and for our small businesses.”

But Corkery told the Des Moines organization that she did not support extending the 2017 tax cuts, saying that the measure disproportionately favored rich Americans and large corporations. She said there were certain areas of the Trump tax law that she supported, like lowering taxes for middle- and low-income families, but said supporting these components does not require extending the measure.

“Ashley wants to add to the tax structure of Trump, I said not,” Corkery said. “I said we need to review them all, but probably end them and start something different.”

Corkery calls for raising taxes on wealthy

Corkery also said that if elected, she would work to simplify the tax system as well as raise taxes for high-income people to support the continuation of programs like Social Security and Medicaid. She called for raising the income cap for paying into Social Security from $170,000 to $500,000 or higher, calling for people with high incomes to put more into the system to keep it solvent.

Democrat Sarah Corkery, running in Iowa’s 2nd Congressional District, spoke to business owners and community members at the Greater Des Moines Partnership as part of the organization’s candidate forum series Oct. 16, 2024. (Photo by Robin Opsahl/Iowa Capital Dispatch)

She said the reason why the cap has not been raised in recent years is because lawmakers in Washington, D.C. could be affected.

“So people make that much, they do have to pay a little more into it,” Corkery said. “Why don’t we? Because no one can get all your money back out that way. The most you’ll ever get is that cap. I wonder why that cap happens to be the same amount as our elected officials in Congress make.”

Hinson also spoke at the Westside Conservative Club in Urbandale Wednesday morning, in addition to holding a roundtable discussion alongside U.S. Rep. Zach Nunn, representing Iowa’s 3rd Congressional District, on child care accessibility in Iowa. These events in the Des Moines metropolitan area came two days after Hinson and Corkery faced off in a debate on Iowa Press Monday night.

Both candidates said they won the debate. Corkery called the debate “very entertaining,” while Hinson told the crowd at the Westside Conservative Club “not to waste an hour of your time” watching the debate.

“I can tell you this, the clear contrast between our conservative, Republican agenda and vision for the country under President Trump and hopefully J.D. Vance, I think it was very, very clear what (would be different) if my opponent and Kamala Harris and Tim Walz were elected,” Hinson said.

Hinson ties economic plans to border security

At the Partnership event, Hinson also linked her economic policies with the need for border security. She said schools and health care facilities in the 2nd District are having to adapt to higher immigrant populations.

“I was at a health care clinic in a rural county, and they’ve had to hire three new people to deal with the influx of Spanish-speaking illegal immigrants into their community, and they’re trying to get them on to Medicaid benefits,” Hinson said. “… The other challenge is, in our education system, it’s a burden on our classrooms.”

Corkery did not touch on the issue of immigration, but said more needs to be done to encourage people to move to the state and build families. She said as a federal lawmaker, she would work to provide more infrastructure funding to Iowa — as well as supporting legislation that encourages welcoming environments for LGBTQ+ people, improving water quality and supporting maternal health care providers.

She also said improving Iowa means providing more support to local businesses.”

“I think for businesses, we can do better,” Corkery said. “When businesses are strong, families are strong, communities are strong, the economy is strong. And we’re in a lot of debt — what’s the best thing we can do to get out of this mess? To grow our economy. Grow our economy and grow homeownership.”

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