Economic slowdown makes state tax cut more of a possibility

A top legislator says due to the economic downturn, an across-the-board cut in next year’s state budget is under consideration. Senate Republican Leader Stewart Iverson of Dows says everything is a possibility.But House Republican Leader Christopher Rants of Sioux City says an across-the-board cut would be a last resort. He says across the board cuts impact local school districts.House Speaker Brent Siegrist, a republican from Council Bluffs, says tough decisions are ahead for lawmakers.State tax revenues are lower than experts predicted, and lawmakers must adjust plans for the state budgeting year that begins July 1st.