State of Iowa To Ask Budget Cuts of 6.5%
Big Cutbacks Coming In State Government Spending
Budget Shortfall Could Be As High As $779 million
Budget Shortfall Could Be As High As $779 million
Iowa Gov. Chet Culver said Monday he will ask the Legislature for a 6.5 percent cut in most state programs and use $200 million in cash reserves to wipe out a huge budget shortfall in the next fiscal year.
"Our state's sound fiscal management does not mean we can avoid cuts in government spending," said Culver. "Simply put, just as families and businesses across the state and around the nation are doing more with less, so too must state government."
The governor spelled out the broad outlines of his proposed budget in a speech Monday evening to the Iowa Business Council. He will send details of his spending plan to the Legislature on Wednesday, but he made it clear in his speech that there will be big cutbacks in state government.
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"Our state's sound fiscal management does not mean we can avoid cuts in government spending," said Culver. "Simply put, just as families and businesses across the state and around the nation are doing more with less, so too must state government."
The governor spelled out the broad outlines of his proposed budget in a speech Monday evening to the Iowa Business Council. He will send details of his spending plan to the Legislature on Wednesday, but he made it clear in his speech that there will be big cutbacks in state government.
Read Article...
Iowa
Economy
Budget
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