Yesterday’s projections by the Revenue Estimating Conference confirm that the policies implemented by House Republicans have cleaned up budget gimmicks and put our state on a sound financial footing. Republican leadership on the state budget has produced three straight years of spending less than the state collects. This practice has driven steady economic growth and enabled us to continue this state’s commitment to improving schools, strengthening health care, and making Iowans and their communities more competitive in the global economy.
The projected growth in state revenue is not a green light for overspending. Republicans will continue our strategy of investing in key priorities, paying off debt and returning any overpayment of taxes back to the taxpayers. Our goal is financial security for Iowans. Iowa families do not spend more than they have and neither should their government.
Thankfully, Iowa’s budget situation is a stark contrast to what we see from our federal government. Instead of drawing lines in the sand and refusing to negotiate, we have worked with the Governor and Democrats in the legislature to turn a $900 million deficit into three years of balanced budgets. Washington needs to follow our example of working together in a bipartisan way to produce a budget that lives within the nation’s means while growing our economy and giving everyone a chance to achieve their full potential.