Governor Culver took office on the promise of bringing fiscal responsibility to the state budget – and that is a promise the Governor has kept. When the national economy was good, the Governor continued to embrace conservative budgeting practices. And when the state was hit by the worst recession since the Great Depression, the Governor tightened the belt. Just as all Iowans must live within their means, so too has state government under the Culver/Judge Administration.  As our economy recovers from the national recession, thanks to the work of Governor Culver and Lt. Governor Judge, Iowa is poised to lead once again.

• For the first time ever, the State of Iowa received a AAA bond rating for the state’s sound fiscal management under the Culver/Judge Administration.
• Iowa is tied for second place nationally in terms of fiscal strength, according to a recent study by the Pew Center on the States. Iowa is behind only Wyoming and tied with Nebraska in terms of Pew’s positive rating.
• Thanks to the Governor’s commitment to conservative budgeting, the state’s reserve accounts rose to a high of $640 million.
• When the national recession hit and reduced state revenues, Governor Culver made state government live within its means and took immediate action. He ordered a 1.5% across-the-board budget cut in December 2008 and a 10% across-the-board budget cut in October 2009.
• State government spending has been reduced under Governor Culver. The state’s general fund has been cut from $5.888 billion in FY08 to $5.249 billion for FY10.
• Despite economic challenges, Governor Culver has not raised the state’s income or sales tax.