The State of Iowa closed its FY18 budget with a surplus of $127.3 million, $95.6 million more than what was predicted in March.
John Hendrickson: Government spending is a concern to many Iowans. Individuals, families, and businesses across Iowa all follow a budget that is not guaranteed to increase every year, yet Iowa’s budget continues to grow.
John Hendrickson: Nebraska’s Governor Pete Ricketts (R) can serve as an example for Iowans as he is leading his state’s effort to reform spending, which is not only sound policy for taxpayers but also for economic growth.
On this episode of The Caffeinated Thoughts Podcast, Shane Vander Hart talks to Chris Ingstad of Iowans for Tax Relief about their 2018 legislative priorities, and discuss what Iowa Governor Kim Reynolds had to say about tax reform in her Condition of the State address.
John Hendrickson: Contrary to what the Des Moines Register’s editorial board believes, the solution to finding more revenues will not be found in increasing taxes or creating new taxes, but rather by lowering spending and tax rates that will generate more economic growth.
The second year of the 87th Iowa General Assembly begins Monday, January 8th. State Representative Steven Holt (R-Denison) highlights what he believes will be the main priorities this session.
Steven Holt: Hard working Iowans, fiscal discipline, and responsible leadership have combined to make Iowa one of the best places in America to live and raise a family.
John Hendrickson: Lower tax rates, along with lower levels of spending, will encourage the economic growth Iowa needs, and ultimately provide more revenue.
John Hendrickson: It would be prudent for Iowa’s policymakers to review the property tax backfill, and make revisions to this policy if needed.
Iowa State Treasurer Michael Fitzgerald suggests that the state of Iowa should borrow to close the FY17 deficit and to ensure the FY18 budget is met.
John Hendrickson: The Iowa Legislature should also consider not only implementing tax relief that lowers rates but that also provides protections for taxpayers.
Iowa House and Senate leaders announced joint budget targets for Fiscal Year 2018. The agreed upon budget plan spends $7.245 billion.
The Iowa Revenue Estimating Conference announced that their estimate of the State General Fund receipts shows a $131 million budget shortfall in FY 2017.
Jack Whitver: Passing a constitutional amendment to place the 99 percent expenditure limitation into the state constitution is advantageous for Iowa.
State Senator Brad Zaun (R-Urbandale) on Iowa’s budget shortfall: “We do not have a revenue problem here; we have had a spending problem.”
Iowa Gov. Terry Branstad outlined his 2-year-budget that defunds abortion providers, called for increased K-12 spending, and collective bargaining reform.