- Associated Press - Friday, December 22, 2017

DES MOINES, Iowa (AP) - A nonpartisan group that reviews Iowa’s finances has estimated a shortfall of about $37 million in the current $7.2 billion state budget.

The Legislative Services Agency provided the data in a report this week. The agency adds that the next state budget, set to go into effect in July, has an expected shortfall of about $65 million. That’s due to built-in increases like plans to return money to Iowa’s emergency reserves, which helped plug previous budget shortfalls.

Republican Gov. Kim Reynolds will release budget recommendations in January that are expected to address any shortfalls. Her budget director previously said cuts to government departments were possible. Lawmakers must approve any proposals.

An LSA analyst says their figures could change as additional accounting comes into play, including the new federal tax overhaul.

Copyright © 2019 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide