Iowa will bring in $800 million less in revenue compared with last year — a 9% drop — as Republican-backed state and federal tax cuts take effect and uncertainty in the agriculture economy continues. The forecast from Iowa's three-member Revenue Estimating Conference predicts that Iowa will take in $8.13 billion in revenue in fiscal year 2026, which ends June 30, 2026. Iowa lawmakers approved a $9.42 billion state budget in May, leaving a $1.3 billion spending gap that the state will have to fill using its budget surplus it has built up over several years and money from the Taxpayer Relief Fund. State revenues are expected to rebound slightly to $8.39 billion in fiscal year 2027 for a 3.2% increase, the panel estimated. Tap the link in our bio for more on this story. #Iowa #IApolitics #IAlegis #BigBeautifulBill