BUDGET TARGET: State Lawmakers Release Plans
House Republicans and Senate Democrats at the state house unveiled their budget plans for the upcoming fiscal year.
The Senate plan calls for $6.9 billion in general fund spending, which translates to about 95-percent of available revenues. The plan calls for commercial property tax cuts, increased educations spending, increased access to healthcare, and a tax cut for working Iowans.
The House plan calls for $6.4 billion in spending, which is about 90-percent of available revenues. Further details of the Republican plan were not released.
Senate Republican Jack Whitver of Ankeny responded to the Democrats plan saying, “A budget that spends $200 million more than we bring in and increases spending by over 10% from last year is unsustainable and irresponsible. Senate Republicans will continue to use the same budgeting principle that all Iowans use: We will not spend more money than we bring in.”
Iowa law allows the Legislature to spend up to 99 percent of available revenues.
Lawmakers need to pass a budget by June 30th.