MONEY TALK: Lawmakers Debate Budget
Money is the center of a disagreement at the Iowa statehouse.
Democrats and republicans have different plans on how much to spend in the year ahead, but one democratic leader argues the sides want something similar in the end.
“There is agreement. We agree targeted tax cuts make sense in things that will grow our economy,” Senator Mike Gronstal said.
Democrats back a budget plan that gives a greater share of property tax cuts to smaller and mid-sized businesses while republicans would give bigger cuts to larger businesses.
The Speaker of the House contends the bigger point of disagreement is democrats wanting to spend too much overall.
“That’s really hard for us to work through the individual pieces when the big number in looming…we are going to balance ongoing revenues with ongoing expenses,” Representative Kraig Paulsen explained.
Democrats want to spend $300-500 million more than republicans next year.
However they say some of that money would come from the state’s current $800 million surplus.