Recently TEF Iowa polled Iowans to get their view on some key public policy issues. In this guide you will find not only how Iowans think about these issues, but also public policy solutions that align with the interest of Iowans. TEF Iowa has developed this guide as a resource …
As a new school year begins amidst the COVID-19 pandemic, many Iowa parents are juggling working from home and facilitating their children’s online education. Schools across Iowa are offering a hybrid of in-class and online instruction. Many parents in Iowa have selected to have their children start school online for …
Iowa’s unemployment rate dropped from 8 percent in June to 6.6 percent in July. A year ago the unemployment rate was just 2.7 percent . The national unemployment rate for July stands at 10.2 percent. Iowa has the 7th lowest unemployment rate in the nation, and regionally only Nebraska (4.8 …
The American Legislative Exchange Council (ALEC) released the 13th edition of Rich States, Poor States: ALEC-Laffer State Economic Competitiveness Index. Rich States, Poor States, measures the competitiveness of each state in terms of economic outlook and performance. In the latest rankings, Iowa has moved from 29th to 25th in terms …
Continue reading “Tax Rates Are the Key to Economic Competitiveness”
This summer COVID-19 continues to be an albatross on the economy. Although Iowa’s economy is open, social distancing policies remain. Iowa’s unemployment rate fell from 10 percent in May to 8 percent in June. Even with Iowa’s unemployment rate falling, fear of the virus is preventing people from resuming regular …
Can you think of any area of your life that is not directly impacted by government? Government, whether at the federal, state, or local level, has grown considerably overtime. The escalating $26 trillion national debt is the most symbolic description of the growth of government. As more demands are placed …
The coronavirus (COVID-19) is having an impact on economic growth in Iowa. The Bureau of Economic Analysis (BEA) released Gross Domestic Product (GDP) by state from the fourth quarter of 2019 to the first quarter of 2020, which demonstrates some of the economic impact of COVID-19. During this time Iowa’s …
JONATHAN WILLIAMS, SKIP ESTES Most states close their books for fiscal year 2020 this week and continue to look at the uncertainty ahead. Every state but Vermont has some variety of a balanced budget requirement. Some are far more meaningful than others, but at least some thought goes into presenting …
Continue reading “A Way Forward for State Budgets after COVID-19”
Crafting a state budget is never an easy process and this year was especially difficult with drafting a budget amid the COVID-19 pandemic. Prior to the COVID-19 emergency, Iowa was in a strong economic position with healthy and stable revenue growth. By March, all of this changed as the pandemic …
Continue reading “Spending Restraint: A Conservative Budget”
Iowa’s economy has begun the process of reopening with continued limitations due to social distancing. Nevertheless, economic uncertainties remain. How will businesses cope with operating at limited capacity? Will Iowa consumers feel safe to fully reintegrating into the economy or will a fear of a “second wave” keep people away? …
Iowa’s economy is reopening, but the economic impact of COVID-19 (coronavirus) is still uncertain. Iowa’s April unemployment rate was 10.2 percent because of business closures resulting from social distancing policies used to mitigate the virus. The economic impact of COVID-19 is still a fluid situation. One of the uncertainties is …
Executive Summary As of May 20, 2020, the CDC calculates that COVID-19 has generated 99,498 U.S. deaths and 449 Iowa casualties. Per 1,000,000 in population, this represents 303 deaths for the nation, and a much lower 149 for Iowa. Due to COVID-19, the U.S. economy contracted by 4.8% in …
The COVID-19 pandemic is precipitating an unprecedented economic downturn, and small businesses are likely to bear the brunt of it. Mandatory shutdowns and social distancing are forcing many small businesses to shut their doors, leaving millions of people out of work and driving down sales. Even when governments begin lifting …
Do you know that the income taxes you pay to the state of Iowa makes up the majority of the General Fund budget? Iowa’s General Fund is supported not just by income taxes, but also sales and a variety of other taxes, fees, and revenue sources. In addition, the budget …
Iowa’s economy is in a recession marked by high unemployment, not seen since the Great Depression of the 1930s. Iowa’s economic crisis is a result of the coronavirus (COVID-19), which has forced an economic shutdown of the state. Low commodity prices are also having a detrimental impact on the farming …
David Kennedy, prominent historian and Stanford University professor, in an interview with Governing discussed the COVID-19 (coronavirus) emergency in relation to the Great Depression. In that interview he stated, “[President] Calvin Coolidge said that if the federal government went out of business, the average person wouldn’t notice for six months, except for the post office. Now, the federal government is …
The United States is confronted by an unprecedented crisis with the coronavirus (COVID-19) pandemic. From an economic standpoint, the COVID-19 crisis is being compared to the Great Depression with the growing army of unemployed Americans and the possible historic loss in state and local tax revenues. In March, Iowa along …
Executive Summary As of April 24, the CDC calculates that COVID-19 has generated 24,555 U.S. deaths and 48 Iowa casualties. Per 1,000,000 in population, this represents 75 deaths for the nation and a much lower 15 for Iowa. Due to COVID-19, the U.S. economy contracted by 4.8% in Q1, …
Continue reading “THE ECONOMIC IMPACT OF COVID-19 ON THE IOWA ECONOMY: EXECUTIVE SUMMARY”
The High Cost of Economic Development Incentives as a Tool for COVID-19 Recovery Overview: The last sustained period of economic downturn in the United States saw explosive growth in the size and scope of state and municipal tax credit and abatement programs, subsidies, grants and other forms of economic …
Continue reading “High Cost of Economic Development Incentives”
In an attempt to slow the spread of the coronavirus (COVID-19) the national economy is closed, which is resulting in millions of people unemployed and businesses wondering if they will survive. Shelter-in-place and social distancing policies are working to slow the spread of COVID-19, but the longer the economy remains …
The coronavirus (COVID-19) is impacting Iowa’s entire economy. Social distancing, meant to slow the spread of the virus, has resulted in business closures and vast numbers of Iowans forced into unemployment. It is also impacting Iowa’s agricultural economy. A new study by the Center for Agricultural and Rural Development at …
