Governor Terry Branstad says with lower-than-expected state tax revenue, Iowa’s current state budget must be reduced by nearly 100 million dollars.
OC……….budget be balanced.” :10
A state panel met last week and lowered the “official” estimate of state tax collections for the current budgeting year.
Branstad hopes to shield a few major budget items from cuts.
OC………..those reduced.” :13
With those spending areas off the cutting table, state agencies are likely targets for cuts, but Branstad says he does not anticipate state employee layoffs.
The governor and his staff are in the process of crafting a state budget plan for next year that will be submitted to legislators in January.
Branstad intends to deliver the annual “Condition of the State” speech to legislators on January 10th and make a formal budget recommendation as well.