The October Revenue Estimating Conference projects that Iowa’s General Fund revenue receipts will grow by five percent in FY 19 and two percent in FY 20.
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: 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.
John Hendrickson: Priority-based budgeting along with prudent tax reform will create an opportunity for Iowa’s economy to grow and keep vital government functions funded.
Gov. Kim Reynolds may require a special session of the Iowa Legislature to overcome a $104.4 million shortfall in projected revenue to balance the budget.
John Hendrickson: Iowa taxpayers must be protected by a constitutional amendment that would require a supermajority vote in the Legislature to increase taxes and fees.
Steven Holt: Several bills are also advancing to make Iowa government smaller and smarter, with the goal of bringing greater economic opportunity and liberty for Iowans.
Jason Schultz: Revenue Estimating Conference convened to provide their most recent assessment of Iowa tax income for Fiscal Years 16, 17, and 18.