Gov. Reynolds was presented the 2024 Distinguished Service Award at the Tax Foundation’s 2024 Tax Prom in Washington, D.C. Gov. Reynolds is the first sitting governor to win the Tax Foundation’s highest achievement. 

"I'm honored to be recognized by one of the nation’s premier economic policy think tanks, and grateful to the many Iowans who have helped make our state’s tax transformation possible," Gov. Reynolds said. "Fundamentally, that transformation is the triumph of simplicity over complexity, growth over spending, and bottom-up energy over top-down management. As Washington prepares for taxes to take center stage in the halls of Congress once again, I was proud to showcase the success of Iowa’s growth-oriented, fiscally conscious approach.” 

When Gov. Reynolds was elected to office in 2018, Iowa had a 9% income tax rate-the sixth highest in the country. Since, Iowa has cut taxes five times in six years, and beginning January 1, 2025, Iowans will pay a flat 3.8% income tax rate.  

Gov. Reynolds also eliminated taxes on retirement income and inheritance. In total, Gov. Reynolds’ tax reform policy is projected to save Iowa taxpayers nearly $24 billion over a decade. 

“Folks often look to the DC beltway when it comes to tax policy, but we know that some of the most consequential achievements in tax happen in the states. No better example of that is there than in Iowa, where Gov. Reynolds has been leading the way on implementing smart tax policy” said David P. Lewis, Chairman of the Tax Foundation’s Board of Directors. “From her first day in office, Gov. Reynolds has worked tirelessly to make Iowa’s tax code simpler, more neutral, and more competitive. All states-and our federal leaders-should learn from her leadership. Iowans, and our country, are better off because we have champions for growth like her in office.” 

Since 1941, the Tax Foundation has honored public figures who show an extraordinary dedication to advancing sound tax policy.?Previous recipients?of Tax Foundation awards have included: Presidents Dwight Eisenhower and George W. Bush, Senator Ron Wyden, Senator Max Baucus, Senator Orrin Hatch, and Representative Kevin Brady.