Iowa Republicans are once again misleading voters about Governor Culver’s I-JOBS program, as Senate Minority Leader Paul McKinley is ignoring the facts and inflating the cost of the program. Speaking to the Sioux City Journal last week, McKinley falsely stated the cost of the program would be $1.7 billion, ignoring the lower interest rates negotiated by the State.[1]

Under Governor Culver’s leadership, Iowa has kept a triple-A bond rating from all three rating agencies and is one of only nine states to earn this highest rating. Thanks to Iowa’s strong financial standing, State officials were able to negotiate the bonds issued for the I-JOBS program for $960.8 million.[2]

McKinley’s comments also neglect to mention the entire I-JOBS program, which will create 30,000 jobs and secure Iowa’s economic future, is paid for using existing gaming revenue and is being implemented without increasing taxes.

“The I-JOBS program has been a vital part of Iowa’s success, even in a tough economic climate,” said Iowa Democratic Party Chair Sue Dvorsky. “In his rush to score political points Senator McKinley has neglected to do the math. I-JOBS is creating jobs, improving infrastructure and securing Iowa’s economic future without raising taxes.”

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Sources:

[1] Sioux City Journal, “McKinley sees Senate swinging to GOP,” 7/8/10

[2] Iowa Department of Management, 7/12/10