SF 607 reduces the tax employers must pay into the state’s Unemployment Compensation Trust Fund. Iowa already has an excess of reserves in the fund, making this a financially feasible option. CPAC believes in unleashing the free market by lowering taxes, and it supports this bill. SF 607 was passed by the Iowa Senate in a 32-16 vote on May 14, 2025, and it was signed into law by Governor Kim Reynolds.