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Officials Remain Cautiously Optimistic on Revenues

Created: 12/12/2013 4:09 PM KSTP.com

DES MOINES, Iowa (AP) - A panel of Iowa budget experts is expecting tax revenue to rise in the next fiscal year.

The Revenue Estimating Conference met Thursday to project the state revenue numbers that Gov. Terry Branstad will use to craft his next budget plan. The three-member panel includes the governor's top budget adviser, the financial adviser to the Legislature and an independent member, Mason City economist David Underwood.

The group predicts net state revenue - made up of taxes and other sources - will come in at nearly $7 billion for the next fiscal year, which begins July 1. That represents an increase of about $300 million over the current year.

Roederer expressed cautious optimism about the state's finances, noting gains in jobs and growth in housing in the state.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

12/12/2013 3:41:09 PM (GMT -6:00)

Photo credit: MGN