- The tax credit review panel recommended eliminating the Assistive Device Tax Credit, which was hailed as “milestone and a victory for small businesses and Iowans with disabilities” by the University of Iowa. (Source: “State of Iowa Tax Credit Review Report,” Jan. 8, 2010)
- The tax credit review panel recommended eliminating the Early Childhood Development Tax Credit. (Source: “State of Iowa Tax Credit Review Report,” Jan. 8, 2010)
- The panel also recommended eliminating the Disaster Recovery Housing Project Tax. (Source: “State of Iowa Tax Credit Review Report,” Jan. 8, 2010)
- Fred Hubbell then called for expanding tax credits used by family companies he personally profited from, including the Enterprise Zone Tax Credit and the High Quality Jobs Program. (Source: “State sets deadline for film tax credit projects,” Sioux City Journal, December 18, 2009)
- Hubbell also called for expanding the Historic Preservation and Cultural and Entertainment District Tax Credit, yet another tax credit that Hubbell Realty benefitted from for a property development in downtown Des Moines. (Source: “State of Iowa Tax Credit Review Report,” Jan. 8, 2010) (“Four Des Moines projects receive nearly $10M in state historic tax credits,” Business Record, May 24, 2017 (emphasis added)
- On November 19, 2009, Iowa Gov. Chet Culver appointed Hubbell to a seven-member Tax Credit Review Panel to conduct an in-depth review of Iowa’s existing tax credit programs. They proposed eliminating several tax credits to benefit Iowans in need while keeping tax credits that benefited Fred Hubbell and his business ventures. During that time, Fred Hubbell was looking out for his paycheck, not ours.
“Not only does Fred Hubbell want to raise taxes on Iowa families, he proposed eliminating tax credits that were designed to help disabled workers, parents of small children, and disaster victims,” said Pat Garrett, spokesman for the Reynolds campaign. “The tax credits Hubbell supported keeping – benefited companies he was personally invested in like Hubbell Reality. The fact is Fred Hubbell only cares about his paycheck, not ours.”
Hubbell also continues to mislead Iowans when he claims he supported eliminating all of the tax credits. The panel recommended the elimination of only some credits, while recommending most be reviewed by the Iowa legislature on a five year sunset plan. While Democrats controlled the governor’s office and both houses of the legislature, Hubbell’s plan failed to get support from his own party and was never enacted.