Wednesday was a difficult day for The American Independent News Network, which is the larger entity that operates The Iowa Independent. Our chief executive and founder announced two of our sister sites would close and their content would be moved to The American Independent.
A recently introduced bill could have far-reaching impact on the U.S. sugar industry, including American Crystal Sugar, a farmer-owned cooperative that locked out 1,300 Midwest workers on Aug. 1.
The chairman for Herman Cain’s Iowa effort says the campaign “relied more on the word of farmers than Washington regulators” in deciding to run an ad containing claims the Environmental Protection Agency says are false.
The Iowa Senate will remain under the control of a slim 26-25 Democratic majority when it reconvenes in January 2012.
A special session may be needed in order to balance Iowa’s budget for FY2009, which ends July 1, according to a report by the nonpartisan Legislative Services Agency (LSA).
But Gov. Chet Culver Press Secretary Troy Price told the Iowa Independent it is too early to consider a special session as “the decline in revenues may be nothing more than typical month-to-month fluctuations.”
In an interview with The Cedar Rapids Gazette’s James Lynch, LSA fiscal analyst Jeff Robinson said based on his projections, and because of a downturn in tax receipts, the state could spend all of the $45 million left as a balance after the legislative session ended in April as well as the $50 million the governor has the authority to transfer from reserves and still be in the red.
If that is the case, Culver may have to call a special legislative session in order to transfer more funds from reserve accounts, since the state is legally bound to balance its budget.
“We will not know what the final outcome is for the FY09 until accruals, expenditures and refunds are all taken into account and the books are closed, which will be sometime in September,” Price said.
He said the governor would watch revenues carefully and evaluate the state’s situation once the books close for the year, rather than “take any extraordinary measures” such as calling legislators back into session.
“And it is important to note that a special session is not without its costs to taxpayers, and is something that should only be considered if absolutely necessary,” Price said.
The LSA’s Robinson told Lynch that the downturn would most likely have a negative effect on the 2010 budget as well.
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