Last week the Iowa Revenue Estimating Conference projected there would be a reduction of state revenues for fiscal year 2017 of $131 million. Iowa’s 6th District Senator, Mark Segebart says after the initial cuts the legislature has already been forced to make this year, additional cuts are not a reasonable solution and would cripple schools, public safety and other essential services. He says the state will instead be using reserve funds to fill budget gaps and focus on policies that promote growth across the state. Over the next year, the legislature will pay back to the reserve fund. “Our goal has always been to treat the state budget like a family budget,” Segebart says. “If we are using our savings account to help pay our bills and necessary expenses, we want to be sure we fill that savings account back up as soon as possible.” He adds that as they move forward with budgeting for the next fiscal year, they will look at tax credits and how government services can be streamlined to put Iowa in a stronger financial position.
