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State Tax Revenue Predictions Updated

Statewide Iowa — A panel that estimates how much tax revenue the state of Iowa will collect predicts a slight slow down in the next budgeting year that starts July 1st.

Dave Roederer, the governor’s budget director, says he and the other two members of the panel know there’s a recession ahead, they just don’t know when.

The State Revenue Estimating Conference predicts lawmakers will have about 20-million dollars less to work for next year’s budget. That won’t impact budgeting right now because Republican leaders in the House and Senate already were planning to spend significantly less than the total revenue estimate released Friday. In each of the past two years, lawmakers had to make mid-year cuts in the state budget, but current state tax receipts are steady and cuts are not necessary.

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