Iowa’s budget increased, cumulatively, more than pop+inf in state funds and all funds from 2013-22, meaning taxes are higher than the average taxpayer can afford.

  • The current state funds budget is $1.9 billion higher than it would have had spending grown at the rate of population growth plus inflation over the past decade.
  • Had the state funds budget grown in line with population growth plus inflation for the last ten years, the state would’ve spent and taxed $13.2 billion less than it did over that decade.
  • The current all funds budget is $6.3 billion higher than it would have been had spending grown at the rate of population growth plus inflation over the past decade.
  • Had the all funds budget grown in line with population growth plus inflation over the past decade, the state would’ve spent and taxed $25.8 billion less than it did over that decade.

State Funds Budget Data

  • Estimated 2023 State Funds Budget ($ Billions): $19.17
  • Budget Limit ($ Billions): $20.11
  • Budget Limit Growth ($ Billions): 4.89%
  • Cost per person of budgeting more than pop+inf over the last decade in 2022 budget: $608.86
  • Cost per family of 4 of budgeting more than pop+inf over the last decade in 2022 budget: $2,435
  • Cumulative cost per person of budgeting more than pop+inf over the last decade: $4,121.94
  • Cumulative cost per family of 4 of budgeting more than pop+inf over the last decade: $16,487.74

State All Funds Budget Data

  • Estimated 2023 All Funds Budget ($ Billions): $30.89
  • Budget Limit ($ Billions): $32.40
  • Budget Limit Growth ($ Billions): 4.89%
  • Cost per person of budgeting more than pop+inf over the last decade in 2022 budget: $1,249.91
  • Cost per family of 4 of budgeting more than pop+inf over the last decade in 2022 budget: $5,000
  • Cumulative cost per person of budgeting more than pop+inf over the last decade: $5,089.16
  • Cumulative cost per family of 4 of budgeting more than pop+inf over the last decade: $20,356.63

Other Considerations