Panel: Iowa Slowdown Will Reduce Tax Collections

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Panel: Iowa Slowdown Will Reduce Tax Collections

By Becky Ogann

DES MOINES (AP) - A state budget panel says Iowa will collect $40 million less in taxes this year because of economic turmoil throughout the nation.

In a meeting Thursday, members of the Revenue Estimating Conference agreed Iowa's economy is slowing down, prompting them to project 1.2 percent growth in tax collections over last year. That's down from an earlier projection of 1.8 percent.

The panel also projects that next year's budget will be essentially flat, growing by only one-tenth of a percent.

Still, House Speaker Pat Murphy notes that the budget remains balanced and the state has $620 million in reserves.
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Thursday, Oct 9 at 4:24 PM Anonymous wrote ...

Look out smokers. Chet has his sight on you again.

Thursday, Oct 9 at 5:42 PM Anonymous wrote ...

you know it 4;24 hang on to what ever you got fee,s fines any thing that walks moves crawls its going to get taxed. out of control spending

Thursday, Oct 9 at 8:46 PM 17 wrote ...

charge an extra quarter for every double cheeseburger sold in this state, and the state would make MILLIONS......

Friday, Oct 10 at 10:26 AM Anonymous wrote ...

WE WILL JUST HAVE TO CUT SPENDING THATS ALL THERE IS TO IT,LESS TAXES COMING IN = LESS SPENDING! ARE YOU LISTENING CHET?

Sunday, Oct 12 at 9:56 PM LET ME GUESS wrote ...

Chet and Co will come up with a creative plan to bridge this awful gap in the State's revenue addiction. Gee ... I wonder if a tax increase would help?

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