Budget mess is a bad deal for Iowans

     The State ended Fiscal Year 2017 on June 30 with a $105 million budget shortfall. Analysis by Iowa’s nonpartisan Legislative Services Agency indicates that hole could grow.

     The Revenue Estimating Committee, a panel of budget experts, overestimated how much our economy was growing, what the state was taking in and how much it could provide to departments, initiatives and services that Iowans depend on.

     Iowa’s revenues are growing but at a slower rate than projected.

     After the books officially close on Sept. 30, the Legislature may have to hold a special session to balance the budget. Most likely, the Republican-controlled Senate will use some of the money in our rainy day accounts to pay the bills. 

     Why is Iowa in this financial position? Many factors are involved. A large increase in tax-credit spending has outpaced growing revenues. This is part of the economic development efforts by the administration, which have failed to improve the lot of Iowa families. Governor Reynolds has not produced the results she promised: increasing family incomes by 25 percent and creating more than 200,000 new jobs. 

     I will continue to oppose policies and budget decisions that hurt Iowa families, small businesses and farmers. Recent cuts will not spur quality job growth. In fact, they threaten family incomes, our economy, public safety, education, and help for seniors, children and vulnerable Iowans.

     To contact Senator Bowman when the Legislature is in session, call the Senate Switchboard at 515-281-3371. Otherwise he can be reached at 563-370-2422. E-mail him at tod.bowman@legis.iowa.gov.