(Des Moines, IA) Iowa House and Senate leaders announced joint budget targets for Fiscal Year 2018.  The agreed upon budget plan spends $7.245 billion.

“This budget plan makes additional investments in key priorities like K-12 education and provides resources for essential functions of government,” Rep. Pat Grassley (R-New Hartford) and Sen. Charles Schneider (R-West Des Moines) announced in a joint statement.  “House and Senate Republicans continue to believe that the state budget should be managed just like families and businesses manage their own.

This budget takes a responsible and cautious approach to spending in recognition that revenue may continue to come in less than anticipated.”

The budget plan includes fully funding the additional $40 million passed earlier this session for K-12 schools.  This budget plan also includes an initial payment to repay the Cash Reserve Account in FY18 and additional payments will be made in FY19.

Each budget area target is as follows:

Administration and Regulation $ 47.39 million
Agriculture and Natural Resources $ 38.84 million
Economic Development $ 38.41 million
Education $ 908.41 million
Health and Human Services $ 1.766 billion
Justice Systems $ 734.95 million
Standings $ 3.711 billion
TOTAL $ 7.245 billion
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