A panel of financial experts sees “turbulence” in Iowa’s economy and has slightly reduced its prediction of how much tax revenue the state will collect. State Representative Pat Grassley, a Republican, is the chairman of the Appropriations Committee in the Iowa House and he says it means legislators will face tougher choices when crafting next year’s state budget…..
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The Revenue Estimating Conference met Thursday and predicted state tax revenue will grow in the current budgeting year that ends June 30th, with over seven BILLION dollars in total tax collections, but the group trimmed its guess of that growth by about nine million. The panel’s estimate for the next budgeting year was reduced by 21-and-a-half million. Grassley says that throws a bit of a wrench in budget plans….
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Republicans control the debate agenda in the House and Democrats control the Iowa Senate. Grassley says House Republicans will meet this week to discuss priorities for the 2016 session. One point of discussion will be how much to send Iowa’s public schools for the academic year that begins next fall. The 32 year old Grassley, who is the grandson of U.S. Senator Chuck Grassley, has been a member of the Iowa House of Representatives since 2007. This fall he became chairman of the committee that drafts a state budget plan.