Gov. Chet Culver said discussion among Democratic congressional leaders earlier today was the first step toward drafting a federal economic stimulus bill that could include assistance to fund infrastructure projects, provide direct assistance to programs for low-income Iowans and possibly fund tax breaks for businesses.

Culver represented the nation’s 20 Democratic governors in an economic forum hosted by U.S. Speaker of the House Nancy Pelosi, which also included a number of economists from across the country.

The meeting was intended to answer “what’s next,” Culver said, now that the $700 billion bailout bill for the financial sector has been approved. On the table was discussion of rebuilding the nation’s roads and bridges to create new jobs, and preventing cuts to vital government services such as home-heating assistance and unemployment benefits.

“I did talk about the importance of infrastructure (for creating jobs), and that people on fixed incomes don’t have a tax burden that’s unfair, and expanding the Earned Income Tax Credit,” Culver said in a teleconference with reporters. “I want to continue that conversation with people in Des Moines,” he said, referring to the upcoming legislative session, “with an economic package that would include tax relief.”

Because the state at this point estimates that it will end the current fiscal year with a surplus of up to $50 million and has record cash reserves of $640 million, Iowa’s needs for direct assistance aren’t as dire as those of others states, such as California and Massachussetts, Culver said.

The governor said he intends to return to Washington for further meetings both prior to and following the November election.

“We had a very thorough discussion,” Culver said. “Today was meant to be the beginning of a very concerted effort to work on a package; it is very likely there will be a tax piece of this.”