DES MOINES, Iowa ( IOWA CAPITAL DISPATCH ) - The state of Iowa’s general fund revenue for fiscal year 2025 is roughly $200 million less than predicted when state lawmakers were moving forward with the budget, according to a Legislative Services Agency report.

The nonpartisan LSA document found the state collected $8.8 billion in the fiscal year covering July 1, 2024, through June 30, 2025. This is a drop of $780 million in revenue compared to the state’s $9.6 billion revenue in FY 2024 – an 8.1% decrease.

Part of this funding decrease was expected, as Gov. Kim Reynolds signed a law in 2024 speeding up previously approved income tax cuts. When state legislators reconvened for the 2025 legislative session, Republican leaders said they were expecting to draw from the $3.75 billion Taxpaye

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