Corporate Tax Giveaways Lead To Deficit; Steckman Says Iowans Shouldn’t Have to Pay for Budget Mess
Des Moines, Iowa – State Representative Sharon Steckman said a new budget plan released at the State Capitol today by Republican lawmakers is bad news for Iowa working families.
“For the second time this year, the Republican majority is forcing Iowans to pay for their massive corporate tax giveaways that have put the state budget in deficit,” said Steckman. “The GOP budget will not build the skilled workforce we need or protect the most vulnerable citizens in our community, including our seniors, children and those with disabilities.”
Last month, lawmakers learned the Republican Majority and the Branstad-Reynolds administration turned a $927 million state surplus into a $130 million deficit this year. The state budget deficit is largely the result of new corporate tax giveaways that have increased exponentially and now top $500 million annually.
“I believe we should work together to restore fiscal discipline and ensure Iowans no longer have to pay for the tax giveaways the state can’t afford,” said Steckman.
On Wednesday, Republican lawmakers released the outline of their state budget, which must be approved by the Iowa Legislature before they adjourn this year. While final details have not been released, the Republican plan includes significant cuts in education and health care next year.