From GazetteOnline:

The governor’s 10 percent across the board cut reduced the state funding for the K-12 foundation formula by $235 million. Dec. 1 Culver said he does not intend to restore any of his cuts to allowable growth.

Ultimately, school districts have no place to find this money other than through increased property taxes even if school districts use available reserve funds because they will refill those reserves through property tax increases, Paulsen said. So as a result of Culver’s cut, Iowans are now faced with a potential $540 million tax increase for Fiscal Year 2011, Paulsen said.

“Iowans do not need higher property taxes, they need real leadership from their elected officials and willingness to dive into budgets and find real efficiencies,” said Paul “House Republicans will continue our efforts to do just that. We will not support raising Iowans’ taxes.”

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