Senate budget priorities focus on expanding Iowa’s middle class
Senate’s total investment equals Governor’s
‘It’s time to break the budget gridlock’
DES MOINES – Leaders of the Iowa Senate today released a state budget outline which would expand Iowa’s middle class while maintaining fiscal responsibility.
The Senate Democratic plan calls for $7.341 billion in general fund spending, an amount identical to the total general fund spending proposed by Governor Branstad. It is 97 percent of available revenues, as determined by the nonpartisan Revenue Estimating Conference in December 2014.
Iowa law allows the Legislature to spend up to 99 percent of available revenues. The proposals by the Senate and Governor Branstad are both $149.1 million below the state’s 99 percent expenditure limitation.
“It’s time to break the budget gridlock. Iowans want Republican and Democratic legislators to focus on expanding Iowa’s middle class,” said Senator Bob Dvorsky of Coralville, chair of the Senate Appropriations Committee. “Our balanced budget is sustainable and spends less than the state takes in.”
The Senate Democratic plan calls for a compromise 2.625 percent increase in state support for Iowa’s local schools. It also calls for a tuition freeze at our state universities for the third consecutive year and fully funding property tax credits and the commercial property tax cut that especially helps Iowa’s small businesses. The plan also funds an early retirement incentive plan for eligible state employees that is projected to save the state $16.1 million in the next fiscal year.
“Our number one goal is making Iowa’s middle class larger and more secure,” Dvorsky said. “We will make strategic investments that will help Iowa workers gain new skills, improve our local schools, and grow Main Street businesses.”
|Iowa’s 99% Expenditure Limitation:||$7,490.01|
|Total Appropriations Proposed by Governor and Senate:||$7,341.00|
|Amount Senate and Governor are below the expenditure limit:||$149.10|
|Total Appropriations as a percent of state revenues||
Tags: budget, Governor Branstad, Senator Bob Dvorsky
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