As I mentioned last week, House Republicans and Senate Democrats reached agreement on an overall general fund budget plan. Next year’s general fund budget will spend $6.9718 billion.
That represents 99.84% of on-going state revenue, staying true to the House GOP’s common sense principle of spending less than the state collects. This number also represents just 91.14% of the allowed amount under the state’s expenditure limitation law.
As a reminder this will be the fourth consecutive year the state will spend less than it collects. This is in stark contrast to the four years immediately preceding House Republican leadership in the Iowa House. From 2007 through 2010, Democrats spent more than the state collected in each of those years.
The agreement complies with House Republicans four budgeting principles:
We will spend less than the state collects;
We will not use one-time money to fund on-going needs;
We will not balance the budget by intentionally underfunding programs; and
We will return unused tax dollars to Iowa’s taxpayers.
As part of the effort to not underfund our previously made obligations, House Republicans’ plan follows through on our commitments to offer $414 million in tax relief to Iowans.
This plan fully-funds the property tax credits including the homestead, elderly and disabled, military and agland tax credits. It also fully-funds the commercial property tax credit which was passed last year as part of the largest tax cut in Iowa history. We also continue to send money to the Taxpayer Trust Fund which is a direct payment back to Iowa taxpayers on their income tax returns.
House Republicans will continue to work to find ways to take less money from Iowa taxpayers and return more to their pockets all while following through on the budget promises we’ve already made.
Last week Best Buddies Iowa and Special Olympics Iowa joined together at the State Capitol for “Spread the Word to End the Word” Day. These young Iowans encouraged legislators, staff and visitors to sign their pledge to stop using the R-word in everyday language as it is hurtful, exclusive and derogatory. I was happy to once again sign their pledge and meet with the students in my office.
Charity, Angela and Tyler are pictured here with me in my office with their signed pledge. Best Buddies Iowa and Special Olympics Iowa are examples of organizations in our state that do a great job of serving our young people.
As always, if you have any questions or concerns, please feel free to call my office at (515) 281-3521 or email me at email@example.com