Vilsack says new gambling taxes could finance Values Fund

Governor Tom Vilsack says legislators need to re-establish the “Iowa Values” economic development fund, and consider using new gambling taxes to finance it. “The mechanics of that I think have yet to be decided but I think the commitment is there and I think the resources are there, it just becomes a question of how we utilize those resources,” Vilsack says. The Iowa Values Fund was shut-down this summer by an Iowa Supreme Court decision, and Vilsack says it should be re-established because the program’s short-term track record shows it stimulated business development in Iowa. Creation of the Values Fund wasn’t easy, as some legislators objected to the concept. But Vilsack says many members of the Legislature have a different attitude about re-establishing the Values Fund. “Many, many candidates from both parties ran on doing that and I take them at their word,” Vilsack says. He also points to the lobbying Iowa building contractors and unions that work on construction sites are doing, urging legislators to establish the Values Fund long-term.