NEWS
House & Senate Budget Targets Are Out!
The one thing the Iowa Legislature must do each year is pass a budget. The Governor made her recommendations in January. The Iowa Senate set its budget target (their overall spending cap) on March 30. The Iowa House of Representatives came out with their spending target on April 10. Now the negotiations begin.
The good news is that the House-Senate targets are only about $39 million apart and are not far off the Governor’s budget. The bad news is that they are using more than $1 billion in one-time funds to balance the budget. The money the state collects from taxes is far below the spending levels. All three budgets spend more than the state will collect in revenues.
$9.67 billion - Governor’s Recommendation
$9.66 billion - House Target
$9.62 billion - Senate Target
$8.47 billion - March Revenue Estimate
You can see our real-time budget tracker here. It includes the most current bill numbers, information on where the bills are in the process, and links to staff detailed budget reviews.
News
