On Wednesday afternoon, Iowa Senate Republicans released their budget targets for FY 2020. The overall budget of $7,619,300,000 is the same amount of funding allocated in FY 2019. These targets are $48 million less than the House and $39 million less than the governor.
“Senate Republicans are maintaining their commitment to taxpayers to manage their money prudently and put their interests first,” said Iowa Senate Majority Leader Jack Whitver (R-Ankeny). “Our caucus is committed to continuing to implement pro-growth policies. This budget is one early step in implementing that agenda.”
State Senator Mike Breitbach (R-Strawberry Point), the Iowa Senate Appropriations Committee Chair said, “I look forward to working with my colleagues, the House of and the governor to implement a sustainable, responsible, and conservative budget to continue to fund the priorities of Iowans and keep Iowa on the path to maintain its status as the Number One state in the nation.”
These budget targets include $38.8 million in additional tax relief in FY 20. The targets also include nearly $130 million in new funding for education, $14.5 million in new funding for public safety, and $106 million in new funding for health care. The decrease in Unassigned Standings is because the increases in the FY 20 budget are less than the $113 million cash reserve repayment that is not necessary in FY 20. Reductions in Health and Human Services are because of one-time expenditures in FY 19 on Medicaid and an increase in federal funding for that program.