CBS 2 - Search Results

The following is an archived video story. The text content of that video story is available below for reference. The original video has been deleted and is no longer available.

First Iowa Budget Passes Out of Joint Committee

DES MOINES, Iowa (AP) -- Iowa lawmakers have reached a compromise on the first budget of the legislative session.

A joint committee of lawmakers from both parties and chambers settled Tuesday on spending $41 million for economic development.

It funds the Department of Cultural Affairs, Iowa Workforce Development, the Iowa Economic Development Authority, the Iowa Finance Authority and the Public Employment Relations Board.

The budget is $31 million under what Republican Gov. Terry Branstad proposed. That's because leadership has decided to move some budget items into a different fund paid by gaming revenue.

Those items include a jobs program which provides tax incentives for businesses, and economic development programs for the regent universities.

Senate Majority Leader Mike Gronstal of Council Bluffs says leadership saw gaming revenue as a stable funding source for these programs.

Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Advertise with us!
Brought to you by:
Brought to you by:

Washington Times

Sponsored content