News: State tax revenue prediction lowered, state budget cuts likely

Iowa Public Radio: State tax revenue prediction lowered, state budget cuts likely

Excerpt:

Another tweak has been made to official state tax predictions and it likely means cuts will have to be made in the current state budget.

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If that prediction holds through December, it means at least $35 million would have to be cut from the state budget. Governor Reynolds will review all the information and “likely” make a recommendation to legislators in January, according to Roederer.

Richard's Comments:

We have a problem in Iowa; and depending on who you talk to, it's either a spending problem or a tax problem. I content it is both. But in a growing economy (and a state law which doesn't allow spending more than the state takes in), we should not be forced in two straight years to make reductions in approved budgets.