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Iowa budget panel expects little revenue growth for 2021

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December 11th, 2020 by Ric Hanson

DES MOINES, Iowa (AP) — Iowa budget experts say state revenue will increase very slowly through next year as the economy continues to gradually emerge from the coronavirus pandemic recession. The three-member Revenue Estimating Conference is tasked by state law with coming up with revenue projections in December that Gov. Kim Reynolds must use in crafting a state budget for next year. The group met Friday and decided to increase revenue projections for the budget year that begins July 1 by $38.7 million above the current year. That’s a minuscule 0.5% increase and provides for revenue of $7.97 billion. They anticipate revenue growth for the following 2022 budget year of 3.7%.