Gazette Daily News Podcast: Thursday, May 2, 2024

– Herkys land across community in dark of night

– Iowa income tax rates head lower and faster under new law

– Abelardo’s opens second fast food Mexican restaurant in Cedar Rapids

Episode Transcript

Coming up, 100 new Herky statues are now an display in the Iowa City area

And later, Gov. Kim Reynolds signs a 3.8 percent flat tax into law.

Plus, Abelardo’s is opening a second fast food Mexican restaurant in Cedar Rapids

Welcome to the Thursday, May 2 edition of the Gazette Daily News Podcast. This podcast gives quick bites from the latest headlines coming out of The Gazette newsroom. I’m Bailey Cichon.

The third Herky on Parade in 20 years has brought 100 new statues of the University of Iowa mascot to the Iowa City area. Under cover of darkness, groups of volunteers installed the 6-foot-tall statues Tuesday night. The statues all have Herky’s fierce grin and strong pose but are decorated in unique ways, from State Trooper Herky to Tooth Fairy Herky and even statues designed in the likeness of fan favorite athletes.

Tactical teams of community volunteers were aided by members of the University of Iowa Hawkeye football team, UI Athletic Director Beth Goetz, and UI Health Care Vice President for Medical Affairs Denise Jamieson.

This is the third iteration of Herky on Parade, and the largest. The first year brought 75 statues to the community in 2004. In 2014, 84 were added.

The statues will stay up all summer and will be removed at the end of August. Anyone can buy a Herky. The statues are being sold for $5,000 but over half have already been taken.

Next, this year, Iowa’s top income tax rate is 5.7 percent. Next year, Iowans will pay a flat 3.8 percent on their state income under a law Gov. Reynolds signed Wednesday. Senate File 2442 builds on a tax overhaul the Governor signed in 2022, which set Iowa’s tax rate on a path to a flat 3.9 percent by 2026. The new legislation sets a lower tax rate and brings it sooner than originally planned. Republicans have pushed state income taxes lower since 2017. They cited annual budget surpluses as evidence Iowans are paying too much.

The law makes other changes to Iowa’s tax code, like adjusting property tax rules. It also allows county supervisors to eliminate county compensations boards. The boards recommend the salaries of elected county officials. If supervisors choose to eliminate their county’s compensation board, they would be tasked with setting those amounts without the panel’s recommendation.

Over three years, the law is expected to cut state income taxes by an extra $1 billion. According to analysis from the Legislative Services Agency, it would reduce state revenue by about $100 million each year from 2028 to 2030.

The new law states that if tax receipts fall below what the Legislature spends in any year over the next five years, half of the difference would come from the state’s Taxpayer Relief Fund. That is estimated to total about $3.66 billion by the end of this fiscal year.

Critics in the Iowa House and Senate argued that a majority of the benefits would go into the pockets of the richest Iowans. Additionally, they were concerned about long-term impacts of diminishing revenues on government services, like education.

Next, a fast food Mexican chain restaurant is adding a second location in Cedar Rapids. Less than a year after Abelardo’s Mexican Fresh added its first location at 4401 First Ave, SE, a new location has opened. It’s located at 11 Wilson Ave. Drive SW, near Czech Village. The building was previously a Dairy Queen that closed in June 2022 after sustaining heavy fire damage. Abelardo’s is a Nebraska-based chain with restaurants in six states, including six locations across the Des Moines metro area and Ames. The restaurant’s menu features burritos, tamales, taquitos, quesadillas and huevos rancheros with prices between $9 and $12. Unlike many traditional Mexican restaurants, most locations have a drive-thru.

Find a link to each of today’s featured stories in this episode’s description or at thegazette.com.

Now let’s take a look at the weather in Cedar Rapids. Today it will storm. Expect a high of 72 degrees and a low of 53 degrees. Anticipate similar weather and temperatures on Friday.

Thank you for listening to the Gazette Daily News Podcast. Stay updated with the latest Eastern Iowa news at thegazette.com. I’m Bailey Cichon.

Comments: bailey.cichon@thegazette.com