The books are closed on the 2023 Fiscal Year and last week, the state was met with good news yet again in regard to our state finances.
On Wednesday of last week, Governor Reynolds announced that the state of Iowa will end Fiscal Year 2023 with a budget surplus of $1.83 billion. That is in addition to ending the fiscal year with $902 million in reserve funds and $2.74 billion in the Taxpayer Relief Fund.
This does not happen by accident. For over a decade, Iowa House Republicans have led the charge on responsible budgeting practices while continuing to lower the tax burden on Iowans from all fronts. It may mean we have to make tough decisions, but that is what you sent us to Des Moines to do. We have stayed focused on being respectful and responsible with your tax dollars.
Though we’ve lowered Iowans income taxes, property taxes and corporate taxes, the State of Iowa is still taking in more money than it needs. Iowa House Republicans’ priority will continue to be to return this overcollection to the taxpayer.
Bidenomics has Iowans struggling to make ends meet. Inflation is out of control and Iowans’ dollars aren’t stretching as far as they used to. We need to get more money back into the pockets of Iowans.
Next session our priority will be lowering your income taxes even more.
As always, we will ensure that any plan passed through the Iowa House is responsible and that we know exactly how we can pay for it. Our caucus has a track record of ensuring any tax plan is setting the state up for success not just in the near future, but in the long run as well. As long as I am Speaker, that will not change.
