Branstad Administration Releases Statement on March Revenue Estimating Conference

Date: 
March 14, 2017

Today, Gov. Terry Branstad and Lt. Gov. Kim Reynolds’ Communications Director Ben Hammes issued the following statement in regards to the March Revenue Estimating Conference:

 

“Our Iowa economy is growing. But the challenging farm economy, with commodity prices below the cost of production for far too long, has hit our state revenues. Iowa is prepared. The State of Iowa has hundreds of millions in the cash reserve account – the state’s savings account. Gov. Branstad and Lt. Gov. Reynolds propose using our savings in the cash reserves, rather than additional budget cuts, to meet our current fiscal year needs. The State has already made cuts to the current fiscal year budgets but with just over three months remaining in the current fiscal year, additional cuts are not feasible. The Governor and Lt. Governor are committed to reimbursing the cash reserve account in the budgets to be passed this legislative session.”