Common Sense Institute think tank launches Iowa chapter

CEDAR RAPIDS — If you’ve ever wondered what economic impact Hawkeye women’s basketball star Caitlin Clark and the team have had on Iowa, a new think tank will soon have the answer to that.

The Common Sense Institute, a nonpartisan think tank, launched its new Iowa branch Thursday at the Cedar Rapids Metro Economic Alliance’s annual meeting at the DoubleTree by Hilton hotel in downtown Cedar Rapids. It will look to promote and protect the state’s economy, studying the Clark question and policy matters affecting Iowa including tax reform.

The institute will employ research and dynamic modeling to study the potential impact of public policy proposals on jobs and the economy in Iowa.

This chapter joins existing counterparts in Colorado and Arizona, as well as a recently established chapter in Oregon. It bills itself as a data-driven entity that cuts through politics and special interests to bridge gaps by arming the public with facts.

Kristin Strohm, president and chief executive officer of the Common Sense Institute, said a team of economists and policy experts at the institute will provide facts on the most pressing issues of the day. Its infrastructure of technical expertise will allow the think tank to give citizens a “clear detailed view of what laws and legislation actually mean in the real world,” Strohm said.

The think tank will assess what tax increases or cuts mean for jobs, the state’s real GDP, and for citizens’ pocketbooks. It will analyze trends on housing and homelessness, tax reform, state and local budgets and school choice policies, among other policies, Strohm said.

“In Iowa, people tell it like it is, and that’s exactly what we do,” Strohm said. “ … When it comes to the debates that matter, we will give you the facts.”

The Iowa branch will be governed by a board of directors from around the state with expertise from various industries. Members include:

“We are at a crucial juncture in shaping our economic policies, and informed decisions are key,” Murphy said in a statement. “CSI’s rigorous research will be instrumental in guiding these decisions.”

Paige Thorson, Gov. Kim Reynolds’ former deputy chief of staff, will serve as the organization’s strategic adviser.

More information on the institute and its initiatives is available at www.commonsenseinstituteia.org.

In states with existing chapters, Strohm said the institute has driven debate on housing, homelessness, crime and energy. For instance, in Colorado last year when the state legislature tried to pass a tax increase that Strohm said was disguised as a tax cut, the institute created a calculator where people could input their home address and see how much the tax increase would cost them.

Gov. Kim Reynolds, a Republican, said Iowa policies have captured the nation's attentions as one of the most livable and affordable states in the U.S.

“From the moment that we first spoke in March last year, I knew that this organization with its commitment to free enterprise and independent modeling would be a tremendous asset in really starting to assess the impact of not only existing but potential policies,” Reynolds said during the launch in Cedar Rapids on Thursday.

Because of multiple tax cut bills passed starting in 2018, state income tax brackets and rates are being reduced until most taxpayers would pay 3.9 percent by 2026. Reynolds recently unveiled a proposal that would further accelerate reductions in the state’s income tax to a 3.5 percent rate for most Iowa workers in 2025.

Republicans have argued for more tax cuts because of the state’s finances. Iowa’s $2.1 billion state general fund budget surplus is projected to grow to $3.1 billion in the next fiscal year, the state has full emergency accounts and another $3.7 billion in the state’s Taxpayer Relief Fund.

“We've lived within our means and now we're well-positioned to go further,” Reynolds said. “Again, it is think tanks like CSI that can help model the results of the tax cuts and what that looks like going forward and what kind of rate or how should we do that as we continue to buy down the income tax rate. It's that kind of modeling that not only will help give us the data, but if it does what we believe it's going to do, it will help us tell our story.”

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