economy and budget

revenue estimating conference
John Pemble / IPR

State revenue forecasters said Thursday it is too early to know the impact the new coronavirus will have on Iowa’s economy as it sends shockwaves through the world economy.

The Revenue Estimating Conference is predicting the state’s revenue will hold steady in the next fiscal year that starts July 1.

The state is still expected to bring in more than $8.2 billion in state fiscal year 2021, which is the year that lawmakers will have to pass a budget for before the legislative session ends. The new estimate gives them about $12 million less than December’s REC estimate.

Kate Payne/IPR

Much of Iowa's slow but steady growth can be attributed to international immigration. While many native-born Iowans are leaving the state, some refugee communities are seeking it out. In many cases, they're deciding on a life in Iowa after initially settling in another state.  

Wikimedia Commons

Last minute changes to the state health and human services budget have raised concern for members of Iowa’s LGBTQ community and organizations that provide sex education services as well as abortions.

revenue estimating conference
John Pemble/IPR / IPR

A state panel estimated Thursday Iowa’s revenue will grow in the next fiscal year, but it will grow more slowly than it did this year.

Lawmakers use figures from the Revenue Estimating Conference to determine the state budget each year. In the past two years, lower-than-expected revenue led lawmakers to make mid-year budget cuts.

Dean Borg/IPR

The CEO of Rockwell Collins’ new parent company is hoping to reassure investors about a wave of changes at the company. United Technologies announced Monday it had finalized the acquisition of the aerospace firm, and is in turn splitting into three separate companies. 

John Pemble/IPR file

State analysts said Tuesday they are optimistic about Iowa’s economy and the amount of money coming into state coffers this year, but recent tax law changes could complicate things next year.

The three-member Revenue Estimating Conference projected state revenue will increase 4.9 percent this year, or nearly $360 million, compared to the previous fiscal year that ended June 30.

Joyce Russell/IPR

Bare bones budgets keeping state agency funding at the levels of three years ago won preliminary approval at the statehouse today, as work began in earnest on next year’s overall state budget. 

Lawmakers from both parties expressed concern about short-staffing in public safety jobs.  

On a party-line vote, the GOP-dominated House Appropriations Committee approved what they’re calling status quo funding for the justice system, which covers highway patrol, prisons, and the state crime lab.