Legislative leaders say new state revenue projections have adjusted how much they can legally spend for the upcoming fiscal year, and it will mean less money than what was budgeted by Governor Terry Branstad and Senate Democrats.
The Republican-majority House released figures Thursday, March 17 that calculate lawmakers cannot spend more than roughly $7.3-billion for the fiscal year that begins in July.
That’s below what Branstad and leaders in the Democratic-controlled Senate calculated was available for the next fiscal year.