Ahead of the House Republicans’ hearing on Governor Kim Reynolds’ proposed tax giveaways, the Iowa Democratic Party is reminding Iowans that not only has Reynolds tried this budget-busting tactic before, but the state is still reeling from the budget crisis it created.
“Reynolds’ proposed revenue giveaways are the equivalent of trying to balance the family budget by quitting your job. As we saw with the mid-year cuts she signed last month, working Iowans are the ones paying the price for Reynolds’ mishandling of our state’s budget, and it’s only going to get worse if the Republicans in the State Legislature pass her special interest-driven agenda,” said Iowa Democratic Party Chair Troy Price.
For more on the impact of the Reynolds Budget Crisis, please visit ReynoldsBudgetCrisis.org.
June 2013:
Branstad-Reynolds Administration signs massive tax giveaways to special interests into law — a move that will end up killing Iowa’s financial health
January 2017:
Iowa’s budget has nearly $118 million shortfall.
Shortfall traced to 2013 tax cuts.
March 2017:
Iowa’s budget shortfall forecasted to have grown to $131 million, large cuts expected again.
April 2017:
Budget cuts in 2017 reach $250 million, causing more problems in services for Iowa residents.
June 2017:
Reynolds borrows $50 million from state emergency fund — just years after Iowa had a billion-dollar surplus.
September 2017:
Des Moines Register investigation of Reynolds’ special interest tax giveaways finds “the law has failed to deliver.”
After borrowing $50 million from the state emergency fund in June, Reynolds goes back to the emergency fundand takes an additional $13 million — a move the Iowa Treasurer said is “a violation of the Iowa law.”
December 2017:
State officials announce that mid-year spending cuts are imminent due to continued anemic revenue growth.
January 2018:
Representative Chris Hall files lawsuit against Governor Reynolds alleging her $13 million transfer from the state’s economic emergency fund in September was illegal.
Reynolds and Republican leaders admit they did not follow the letter of the law with the budget transfer. House Speaker Linda Upmeyer suggests changing the law to cover up for Governor Reynolds’ alleged wrongdoing.
March 2018:
Blistering column in the Cedar Rapids Gazette calls proposed Republican tax breaks “lazy” for not tackling Reynolds’ corporate and special interest tax breaks that have gutted funds for state priorities like “education, public safety, the judicial system, mental health services.”
Reynolds signs mid-year cuts targeting education, economic development, public safety, human services, justice.