Budget Bill & NAIFA on the Hill

This Wednesday the Iowa chapter of the National Association of Insurance and Financial Advisors (NAIFA) met in Des Moines to discuss their legislative agenda and meet with legislators at the State House. The group had a great turnout as they become stronger and more organized every year.

Representative Rod Roberts, current gubernatorial candidate, spoke at the group’s luncheon about the state of the economy and business climate in Iowa. Roberts fielded several questions from members to this regard and about the Governor’s budget which came out yesterday. By state law, the budget cannot exceed 99% of projected revenue, leaving 1% as savings. In recent years, a budget has been passed “notwithstanding” the law, or exceeding the limit. Roberts filed a bill yesterday that would add the 99% spending limit to the state’s constitution.

The Governor’s proposed budget relies heavily on the “reorganization” of state government, SSB3030. Some however, are calling it “de-organization” because the bill appears to just shift responsibilities from one agency to another. Governor Culver touted the reorganization would save the state $200 million, but the Legislative Services Agency predicts it will come up short and only save $43 million.

NAIFA-Iowa’s day concluded with the group meeting in the offices of House Minority Leader Kraig Paulsen, House Majority Leader Kevin McCarthy, Senate Majority Leader Mike Gronstal, and Senate Minority Leader Paul McKinley. NAIFA-Iowa was well received by all the leaders and had a unique opportunity to directly speak to them about their issues and actively engage in the political process.