Iowa legislators considering mid-year cuts to the state budget have a new figure to consider. The panel of financial experts who set the official estimate of state tax collections is predicting 33 MILLION more dollars will flow into the state treasury in the current budgeting year.

 

That’s Dave Roederer, the governor’s budget director. He’s also a member of the panel that made the revised state tax estimate. Roederer is reluctant to say how policymaker should react to the news.

 

While 33 MILLION more dollars are EXPECTED to flow into the state treasury, if NO cuts are made, the current state budgeting plan would see nearly all of that spent by June 30th — the final day of the current fiscal year. Republican lawmakers have indicated making sure there’s several million dollars extra in the budget plan is a priority. That money could cover any shortfall if state tax collections fall short of expectations. That’s what happened last summer, forcing the governor to dip into the state surplus to cover a deficit.