DES MOINES — Governor Kim Reynolds said after the October meeting of the Revenue Estimating Conference (REC) that the state’s huge budget surplus is proof that Republican leadership has put the state in strong financial standing.
“Iowa is in strong financial position with a State General Fund ending balance of more than $1.88 billion, more than $4 billion in the Taxpayer Relief Fund, and full reserve funds. Now that Iowa’s 3.8% flat income tax is fully implemented, Iowans have more of their own money today than they did at this same time last year. As a result, the state’s General Fund revenue is down just as we projected and responsibly planned for, and just as it should be. Government should only ask from its taxpayers what it needs to operate effectively on their behalf.
“The REC’s adjustment to its March projections is based primarily on passage of President Trump’s historic tax cuts in July, which will save Iowans an additional $3,000 a year on average. Iowa’s strong fiscal health is due to a strong commitment to fiscal conservatism by my administration and legislative leadership, and we will continue to be good stewards of taxpayer dollars.”
2 thoughts on “Kim Reynolds declares Iowa in great position with $1.88 billion reserve surplus”
Puff puff pass
That won’t be the case for long. Iowa’s state revenue is projected to drop by about $800 million (9%) in fiscal year 2026, And that will continue because the forecast is that we will spend $1.3 billion more than we take in. Way to go Kim. No wonder you decided to step down.