Key Points of the Governor's Budget
1) The Governor’s budget spends $6.4 billion in FY 09. When combined with his budget last year, government spending is increased by more than $1 billion. That’s a $1 billion increase in two years. That’s a 20 percent increase over a two-year period. For a point of reference, the EIGHT bipartisan budgets proposed and approved by Governor Vilsack and Republicans grew by $1 billion.
2) Despite strong revenue growth (over 10 percent growth year-to-date), the Governor still proposes at least $100 million in new tax and fee increases. The big items are a $70 million corporate tax increase and a $20 million tax increase on beer, pop, juice and water.
Budget | January 15, 2008
