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November 2013 - Volume 21, Number 4

   

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Iowa's Monthly State Revenue and Estimated Net Yearly Revenue
(in millions)

 

Monthly State Revenue

 

Monthly tax collections for FY14, which started July 1, continue to be higher than previous years. September alone was almost $100 million more than September of FY10. There is a budget surplus. All rainy day accounts are fully funded. We continue to ask, “Why is it necessary to take so much money from Iowa workers and families?”

 

 

Estimated Net Yearly Revenue

 

The Revenue Estimating Conference met in early October, adding FY15 to their predictions, which continue a steep upward trend. FY14 projections reflect the impact of recent legislative actions. The prediction for FY15 is tax collections of $6.8 billion, a record high, and $1.4 billion above FY10 tax collections.

 

Source: Legislative Services Agency “Monthly General Fund Revenue Memo,” and Revenue Estimating Conference Report

 

IOWA ECONOMIC SCORECARD is our quarterly economic forecast, arriving in February, May, August,
and November. It consists of statistics about and analysis of the Iowa economy.

 

IOWA ECONOMIC SCORECARD is published by Public Interest Institute at Iowa Wesleyan College, a
nonpartisan, nonprofit, research and educational institute whose activities are supported by contributions from private individuals, corporations, companies, and foundations. The Institute does not accept government grants.

 

Contributions are tax-deductible under sections 501(c)(3) and 170 of the Internal Revenue Code.

 

Permission to reprint or copy in whole or part is granted, provided a version of this credit line is used: “Reprinted by permission from IOWA ECONOMIC SCORECARD, a quarterly newsletter of Public Interest Institute.” The views expressed in this publication are not necessarily those of Public Interest Institute. They are brought to you in the interest of a better-informed citizenry because IDEAS DO MATTER.

 

   

 

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