Iowa Auditor expresses concerns about federal debt - KWWL - Eastern Iowa Breaking News, Weather, Closings

Iowa Auditor expresses concerns about federal debt


The Iowa State Auditor said Monday that Iowa lawmakers are doing a better job of spending within the state's means, but he worries about the uncertainty of the federal debt.

"If the Federal tax code remains unchanged, Iowa will feel the impact of expired Federal income tax cuts and other scheduled policy changes, collectively referred to by the media as the ‘fiscal cliff.' As the Federal government addresses its fiscal imbalance, Iowa can expect a decline in Federal support," David Vaudt said.

Iowa spends about $6 billion a year, along with the nearly $6 billion it gets from the federal government.

Vaudt thinks lawmakers should prepare for fewer federal dollars once Congress starts cutting spending.

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