Representative Gary Mohr Issues Statement on State's Revenue Totals for FY 21
(DES MOINES) -- Today, the state of Iowa's Legislative Services Agency issued a report on the general fund revenue totals for FY 2021.
The report states that Iowa brought in $1.407 billion more in revenue in FY 21 than in 2020, representing an 18.6% increase for the year. All three categories of revenue increased by double-digit amounts this year; personal income tax grew by 16.8%, sales/use tax grew by 10.6%, and corporate tax grew by 51.7%.
Appropriations Chairman Gary Mohr issued the following statement in response:
"The state of Iowa's revenue growth in Fiscal Year 2021 reinforces that Iowa is on the right track. Our state is coming back strong and is well on its way to the full return to normal Iowans deserve. The past year was tough and full of tough decisions, but because of the leadership from Governor Kim Reynolds and Iowa House Republicans, our state's financial position is strong and future is bright as we begin FY 2022."