Business Tax Association Releases Accountable Government Four-Year Historical Report

The Iowa Taxpayers Association (ITA), the state's leading nonpartisan business tax policy advocacy organization founded in 1935, will release its four-year historical report of budget reviews conducted on the Governor's budget recommendations and the Iowa Legislature's final budget actions since Fiscal Year 2003 at its 70th Annual Meeting this morning at 10:30 a.m. (Hotel Fort Des Moines, the State Room). 

The reviews have shown that on average, the Executive and Legislative branches have adhered to half of the Association's sound budgeting principles.  "The reviews have also revealed that although the Governor and the Iowa General Assembly have spoken very favorably of the principles and the need to observe them, there is, in fact, a great need for them to strengthen their resolve in that respect," stated Iowa Taxpayers Association Accountable Government Committee Chair Tom Wagner (CFO, Republic Companies). 

The Governor and the Legislature have deviated from a number of the sound budgeting principles, and as a result the state continues to experience significant budget pressures.  The continued use of one-time and time limited sources of revenue for ongoing expenditures has resulted in budget deficits and expenditures outpacing general fund revenues. 

The Iowa Taxpayers Association does recognize the difficult economic conditions under which the Legislature has operated in recent years, and the efforts made to continue government services at a reasonable level while not imposing additional tax burdens on Iowans.  However, the ITA similarly recognizes the need to maintain a consistency in its evaluations of the accounting practices of the Governor and the Legislature, emphasizing the need to adhere to these budgeting principles in order to ensure a sound economic basis for years to come.  To view the complete report, simply click here.