Iowa Releases Budget Surplus Numbers

Posted on AllSides September 27th, 2023
From The Center

(Des Moines, IA) -- The State of Iowa will end the current fiscal year with a surplus of $1.83 (B) billion dollars in the General Fund. There's also 902-(M) million in reserves and $2.74 (B) billion in the Taxpayer Relief Fund. Last week, it was announced the corporate tax rate will drop to 7.1 percent from 8.4 percent for Tax Year 2024. “Some see a surplus as government not spending enough, but I view it as an over collection from the hard-working men and women of Iowa,” said Gov. Kim...

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