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TexasTowelie

(116,554 posts)
Sun Mar 12, 2017, 06:34 PM Mar 2017

Iowa facing more budget woes?

DES MOINES — Gov. Terry Branstad and legislative budget-makers may have to confront options this week for balancing the state’s fiscal 2017 ledger that could include dipping into reserves as a temporary stopgap if projected growth in tax collections is downgraded again.

The state Revenue Estimating Conference — which already has lowered this fiscal year’s tax receipt estimates in October and again in December — is slated to convene Tuesday to decide whether its 4.7 percent growth projection for total net state tax receipts through June 30 is too optimistic.

The governor and GOP-controlled Legislature already made $117.8 million in midyear spending adjustments earlier this session that included $88.2 million in targeted cuts and $25 million in fund transfers to keep a positive ending balance of $600,000 projected through the June 30, the end of the current fiscal year.

The adjustments were precipitated by lackluster revenue growth blamed on a sagging farm economy that threw out of balance the $7.2 billion spending plan put in place by the 2016 Legislature and Branstad.

Read more: http://www.thegazette.com/subject/news/iowa-facing-more-budget-woes-20170312

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Iowa facing more budget woes? (Original Post) TexasTowelie Mar 2017 OP
It's controlled by the GOP. What do you expect? SharonAnn Mar 2017 #1
Despite their self-proclaimed business acumen TexasTowelie Mar 2017 #2

TexasTowelie

(116,554 posts)
2. Despite their self-proclaimed business acumen
Sun Mar 12, 2017, 07:39 PM
Mar 2017

the GOP has the ability of turning a bounteous cornucopia into a turd sandwich.

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