Iowa lawmakers will have to pare down the state spending plans they were drafting before the pandemic hit. The state Revenue Estimating Conference has lowered its estimate of state tax collections.

The three-member panel predicts overall state tax revenue in the next fiscal year will be just eight-tenths of a percent below this year’s total. The group shaved 150 million dollars off their estimate of the state’s tax take in this fiscal year, but it will not require emergency state budget cuts in the next month. The current state budget has an unspent cushion of nearly 400 million dollars to dip into to cover that.