Iowa legislators mull state budget impact of Trump’s tariffs

4 Apr 2025


News

The top Republican in the Iowa House says state budget plans will weather the turbulence of President Trump’s latest round of tariffs, while Democrats say the legislature needs to react to the economic warning signs.

House Speaker Pat Grassley said Republicans will continue to budget conservatively and he pointed to the $5 billion the State of Iowa has in its Taxpayer Relief Fund, cash reserve and Economic Emergency Fund.

“We’ve always talked about for unforeseen things, like potentially what the short term impacts of (the tariffs) may be, that’s why we’ve budgeted the way we have over the last several years,” Grassley said, “so I think we’re in a position to absorb any uncertainty that may come from that.”

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