DES MOINES — Gov. Kim Reynolds credited Republican fiscal policies for Iowa’s improving revenue outlook Friday, pointing to projections of $8.54 billion in General Fund receipts this fiscal year and further growth next year.
In a statement following the October 16 meeting of the Revenue Estimating Conference, Reynolds said fiscal year 2027 receipts are projected to increase 2.8 percent over the previous year. Fiscal year 2028 revenue is forecast to reach $8.83 billion, an increase of 3.4 percent.
“Iowa’s latest revenue projections reflect a strong and stable financial outlook,” Reynolds said in the statement shared on her X account.
The governor said upward adjustments since March indicate improved economic activity and revenue conditions across Iowa. The figures are projections of incoming revenue, rather than a final accounting of collections or a measure of the state’s budget surplus.
Reynolds credits Republican policies
Reynolds used the announcement to defend the fiscal approach pursued by her administration and the Republican-controlled Legislature.
“For nearly ten years, my administration and the Republican-led legislature have prioritized the type of fiscal responsibility and conservative, pro-growth policies that generate measurable results,” she said.
The governor argued that Iowa is positioned to sustain growth while continuing to fund state priorities. Her statement did not detail individual spending proposals or break down which revenue sources accounted for the improved projections.
The fiscal year 2028 forecast is approximately $290 million higher than the fiscal year 2027 estimate cited in her statement.