Iowa Gov. Chet Culver (D) focused on two major challenges during his annual condition of the state address Jan. 13: recovering from devastating floods this summer and dealing with a national fiscal crisis which belatedly hit Iowa last year.
He told the Democratic-controlled legislature he wants to use bonds backed by gambling revenue to launch a $700 million infrastructure building program to stimulate Iowa’s economy.
“This is the first time in our state’s history we’ve earned a Triple-A bond rating, and I intend to use it!” he said.
Culver also said the state should dip into its rainy day fund to help Cedar Rapids and other flood-ravaged areas recover from the summer storms. He recommended using $43 million of the roughly $150 million in that account.
The Democrat, who has had a testy relationship with fellow Democrats in the legislature, also insisted that the state not raise taxes. Instead, he said services should be cut.
“I’ll be frank. Most of us here — in fact, all of us — won’t like some of the effects of these cuts. But all Iowans must share in the responsibility to keep our fiscal house in order. Simply put, if Iowans are being asked to do more with less, then government should too,” Culver said.
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