(Radio Iowa – There’s been a nearly six percent increase in state tax receipts in the past five months compared to the same period a year ago. Jeff Robinson of the Legislative Services Agency provides a monthly report to lawmakers. “Gains in sales and use tax as well as corporate income tax remain significant,” Robinson says, “while individual income tax growth for the year has been flat.” Corporate income tax payments to the state rose more than 19 percent from July 1st through the end of November. State sales tax collections were up two-and-a-half percent during the period.

“Federal economic stimulus and direct payments continue to support consumer spending,” Robinson says, “while Iowa and national employment levels remain well below pre-pandemic levels.” The Legislative Services Agency estimates nine-point-three BILLION dollars additional federal funding flowed into Iowa through enhanced unemployment benefits, loans and other pandemic-related spending approved during the Trump and Biden Administrations. A three-member panel of financial experts will meet on December 13th to review state tax receipts and give Iowa lawmakers a new estimate of total state tax revenue.