Conservative Budgeting: For the last nine years, House Republicans have made responsible budgeting one of the main focuses in Des Moines. The budget plan passed this session is based on conservative principles, spending $7.643 billion which is 0.2% more than the adjusted FY19 budget. This is a fiscally responsible budget that spends just 97.4% of ongoing revenue, fills the state’s reserve accounts, and leaves a healthy ending balance. This is a conservative budget that puts taxpayers first.
Investing in Priorities: Following two years of budget adjustments after revenue failed to meet projections, House Republicans made it a priority to direct resources into programs that previously saw some reductions. The FY20 state budget makes key investments in education programs like our K-12 schools, community colleges and Regent universities, and career training programs. In regards to health care priorities, the budget delivers critical funding for rural hospitals, mental health programs, and nursing homes. Additionally, the budget invests new resources in public safety, Iowa’s courts, and initiatives to grow rural Iowa.
Property Tax Relief and Transparency: Property taxes are consistently one of the biggest issues that Iowans tell us that they want the Legislature to tackle. Oftentimes, the dramatic growth in property taxes is driven by local governments who ride a wave of increased property valuations without reducing their tax rate levies accordingly. Iowans are frustrated when they receive a higher property tax bill after reading in the newspaper that their tax levy wasn’t increasing. To provide property taxpayers with more truth in taxation, House Republicans worked hard this session to give taxpayers a seat at the table and bring more transparency to the local budgeting process that sets property tax. Additionally, House Republicans delivered $5.784 billion in property tax relief to Iowans by extending the SAVE penny through 2051, a significant increase compared to the current law.
Child Care Affordability: The high cost of child care is often a major problem for many families struggling to get by. Oftentimes, one parent is forced to stay at home and take care of children due to the unaffordable costs of daycare. This forces many Iowans out of the workforce at a time when businesses are struggling to find more employees. To reduce these costs for Iowa families, House Republicans doubled the income eligibility limit and expanded the Child Care Tax Credit to more families. This tax credit is targeted to middle class families to lower their tax burden and provide more opportunity for Iowans to join the workforce and grow our economy.