On this episode of ITR Live we discuss the recent forecast of the State Revenue Estimating Conference (REC). The REC projects that the state will continue to collect far more in tax revenue that is needed for the state budget. The REC estimate also reveals that the 2023 income tax cut is having less of an impact on state revenue collections than originally expected. The most recent REC numbers are evidence that not only were the 2023 tax cuts responsible, there may be the opportunity to go even further.
One of the main issues of the upcoming 2023 legislative session will be Iowans' property tax burden. Sarah Curry and John Hendrickson have information on new ITR Foundation reports on several policy solutions available to legislators next year.
