DES MOINES, Iowa – On Thursday, Governor Kim Reynolds, House Speaker Pat Grassley, R-New Hartford, and Senate Majority Leader Jack Whitver, R-Ankeny, announced their request for the Revenue Estimating Conference to convene a meeting prior to the Legislature reconvening. The REC estimate will be used as a data point for the Legislature to use in the creation of a FY 2021 budget.
“Iowa’s fiscal health is strong and we are prepared for this time of uncertainty,” Reynolds said. “But as Iowa continues to recover and grow from the COVID-19 pandemic, it’s critical that we have as much information available to us to make informed decisions. The Revenue Estimating Conference can provide guidance as we assess COVID-19’s impact on the state’s finances.”
“As the Iowa Senate does the work of setting a reliable, sustainable budget, it will collect as much data as possible in creating that budget,” Whitver stated. “Iowa is in the midst of a fiscal situation without any precedent and we will seek as much information from as many sources as possible in the creation of the FY 2021 budget. The conservative fiscal management of the state budget under Republican leadership over the last 3 years has put the state in as strong a position as possible to weather the current economic storm.”
“Two months have passed since our last revenue estimate and much has changed during that time. It would be prudent for the Revenue Estimating Conference to meet and reassess Iowa’s situation so we have the most up to date information and data possible as we begin to put together next year’s state budget,” Grassley added. “Under Republican leadership, we have built up a healthy surplus and reserve accounts are full. We will continue to bring a responsible, conservative approach to the state budget and be thoughtful stewards of the hard-working taxpayer’s money.”
As previously announced, the Iowa Legislature will reconvene on June 3, 2020 to complete the 2020 Legislative session.