A state panel meets today to set official estimates of state tax revenue for the next 15 months. Robust projections could lead House Republicans to accept the Iowa Senate’s plan to accelerate state income tax cuts. But House Speaker Pat Grassley says a 2018 law includes a benchmark that state tax collections grow by at least four percent before the tax cuts are triggered to kick in.

The U.S. Treasury Department has issued a statement, saying states may cut taxes — so long as an accounting shows the extra federal funds aren’t the reason a state is in a position to cut taxes. Grassley says he hasn’t seen that statement, but lawmakers will look at potential tax changes if it doesn’t jeopardize the federal aid.

Last month, the governor of Illinois proposed corporate tax changes that would raise 932 million more in taxes. The State of Illinois faces a budget deficit. Iowa has nearly a billion in cash reserves and the state’s economic emergency fund.