Iowa budget experts predicted Friday that state tax collections would increase by just over four percent or 200-million dollars over last year. Governor Tom Vilsack says the estimate may be a little low. He says he thinks they’ve taken the conservative approach. Vilsack says the estimate is an indication that the economy is moving in the right direction. He says it shows the investments that have been made in the state are resulting in Iowans faring better, not withstanding higher energy costs, than other states. Vilsack says the money will have to go toward paying local governments for state property tax credits and previously promised increases in education spending. He says it’s obviously a lot easier than if the revenue estimating conference says they’re going to have less money. He says there won’t be a lot of new opportunities to invest in. There’s also a chance the revenue estimate could go down when the revenue estimating conference meets again in December.
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