Two years ago, Iowa faced a $900 million budget shortfall. Today, we have an ending balance of $688 million and our budget reserves are full. To achieve this dramatic turnaround, we needed to make a fundamental change in legislative decision-making. In the past, state government spent every dollar possible, every year, including money we didn’t even have.
Now that the state’s fiscal house is back in order, we cannot return to the poor decisions of the past. The temptation to grow government as much as possible must be resisted.
As we begin moving budget bills through the House, we will remain committed to the core principles that led to our recent success: We will not spend more money than the state takes in, we will not use one-time money to pay for on-going expenses, and we will not intentionally underfund entitlement programs to balance the state’s budget.Read more