Iowa finished the fiscal year with a $300 million surplus, as well as more than $200 mill in reserves. State Treasurer Michael Fitzgerald told KCII that’s because of state legislators “proactive action” that cut the budget by 10% and instituted an early retirement program that reduced state employees. Southeast Iowa State Senator Becky Schmitz says she and other lawmakers bipartisanly cut programs that didn’t serve Iowans across the state. She says they’ll use Iowa’s $500 million plus cash reserve responsibly to continue “essential services across the state”.
State Senator Becky Schmitz says cuts were hard but necessary.
Schmitz says Iowa’s cash reserves are staying put and paying for needed services.