South Iowa News

More than a year after the COVID-19 pandemic turned state economies nationwide upside down, Iowa is rebounding and ranks among the Top 10 in fiscal health, according to the Truth in Accounting report.

While the Hawkeye State is seemingly on sound economic footing, the economies in some neighboring states aren’t faring so well, according to Truth in Accounting, which Yahoo described as a government watchdog. 

“In our latest (2021) Financial State of the States report on state government finances, Iowa ranked 9th, while Illinois ranked 48th, according to the website. “And in the latest Gallup poll on trust in state government, Iowa ranked 8th, while Illinois ranked 50th (dead last).” 

Unlike its neighbor, Iowa ranks 9th and boasts a $2 billion surplus, according to the Iowa Torch, citing the Truth in Accounting report, which also noted that the surplus averages out to about $2,000 for every taxpayer. According to Yahoo, that surplus was good for a “B” in on the Truth in Accounting report card, while states with surpluses exceeding $10,000 for each taxpayer earned “A” grades. 

The state also received a boost from $2 billion on pandemic-related grants, which boosted its financial position by 25 percent over the last year, according to the report. 

Illinois joins 38 other states that did not have enough money on hand to pay their bills, and 15 of those states had taxpayer burdens ranging from $5,000 up to $20,000, according to the Iowa Torch, citing the Truth in Accounting report.