Iowa House and Senate leadership have joined the Governor in asking Iowa's Revenue Estimating Conference to meet before the legislative session reconvenes. Their revised state revenue estimate will be needed to create the Fiscal Year 2021 budget.
Iowa House and Senate leadership announced plans for the legislature to reconvene on Wednesday, June 3rd. The session has been suspended since March 16th.
Governor Kim Reynolds, Senate Majority Leader Jack Whitver, and House Speaker Pat Grassley have asked the Revenue Estimating Conference (REC) to meet before the legislative session resumes. The new REC estimate will be used as a data point for the legislature to use in the creation of a FY 2021 budget.
“Iowa’s fiscal health is strong, and we are prepared for this time of uncertainty,” Reynolds said. “But as Iowa continues to recover and grow from the COVID-19 pandemic, it’s critical that we have as much information available to us to make informed decisions. The Revenue Estimating Conference can provide guidance as we assess COVID-19’s impact on the state’s finances.”
“As the Iowa Senate does the work of setting a reliable, sustainable budget, it will collect as much data as possible in creating that budget,” Whitver stated. “Iowa is in the midst of a fiscal situation without any precedent and we will seek as much information from as many sources as possible in the creation of the FY 2021 budget.”
Grassley added, “Two months have passed since our last revenue estimate and much has changed during that time. It would be prudent for the Revenue Estimating Conference to meet and reassess Iowa’s situation so we have the most up to date information and data possible as we begin to put together next year’s state budget.”