Tuesday 18th January 2022

The state’s “Taxpayer Relief Fund” has grown from 74 million dollars two years ago to more than one BILLION dollars this fall — and the latest newsletter from Iowa House Republicans says there’s no valid reason that money should not be returned to taxpayers. There’s more than 800 million in two OTHER state funds designed to respond to emergencies and last spring, Democrats in the legislature called for spending some of THAT money on pandemic relief. Republican House Speaker Pat Grassley says the G-O-P approved a state budget that provided the highest amount of funding ever for broadband, with more money to K-through-12 schools and public safety — all while accumulating what amounts to a billion dollars extra.

In 2011, the legislature created a Taxpayer Trust Fund for up to 60 million dollars in unexpected state tax revenue every year. The fund originally provided state income tax credits, but was changed three years ago so ALL state tax collections that exceeded expectations have been deposited in the renamed Taxpayer Relief Fund.