The Iowa Revenue Estimating Conference issued its latest report on Oct. 16, forecasting $813.4 billion in revenue for fiscal year 2026, a 9% drop from the previous year. The three-member panel forecasts Iowa’s state revenue and evaluates the fiscal impact of legislation. Iowa lawmakers use the forecasts as a bellwether for state budget performance. The October report showed revenue numbers for fiscal years 2024-2027:

• Fiscal year 2024, actual: $975.5 billion
• Fiscal year 2025, actual: $8.94 billion, -8.4%
• Fiscal year 2026, estimate: $813.4 billion, -9%
• Fiscal year 2027, estimate: $839.3 billion, 3.2%

The group meets again in December.