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Iowa vs Nebraska Budget FY2023

Spending, revenue and category allocations compared side by side.

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Key Budget Metrics โ€” Iowa vs Nebraska

Total Expenditure

Iowa

$29.6 billion

Nebraska

$17.3 billion

Iowa is 71.1% higher
General Fund

Iowa

$8.2 billion

Nebraska

$5.2 billion

Iowa is 59.4% higher
Total Revenue

Iowa

โ€”

Nebraska

โ€”

Not comparable
General Fund Revenue

Iowa

$9.8 billion

Nebraska

$6.4 billion

Iowa is 54.6% higher
Rainy Day Fund

Iowa

$902 million

Nebraska

$1.5 billion

Iowa is 41.7% lower
State GDP

Iowa

$277.1 billion

Nebraska

$198.1 billion

Iowa is 39.9% higher

Receipts & Expenditure Comparison

ParticularsIowaNebraskaDifference
Total Expenditure (all funds)$29.6 billion$17.3 billion+71.1%
General Fund Expenditure$8.2 billion$5.2 billion+59.4%
Total Revenueโ€”โ€”โ€”
General Fund Revenue$9.8 billion$6.4 billion+54.6%
Rainy Day Fund$902 million$1.5 billion-41.7%
State GDP$277.1 billion$198.1 billion+39.9%

Iowa per resident

$9,137

Nebraska per resident

$8,568

Iowa โ€” Spending Composition

Nebraska โ€” Spending Composition

Category-wise Allocation โ€” Iowa vs Nebraska

CategoryIowaNebraskaDifference
1. Medicaid
$7.8 billion
$4.0 billion
+94.2%
2. Higher Education
$7.5 billion
$3.5 billion
+112.5%
3. All Other
$6.6 billion
$6.1 billion
+9.4%
4. K-12 Education
$4.7 billion
$2.0 billion
+134.6%
5. Transportation
$2.4 billion
$1.1 billion
+123.5%
6. Corrections
$496 million
$573 million
-13.4%

Compare Another Fiscal Year

FY2025FY2024FY2023FY2022FY2021

Understanding This Comparison

State budgets are compared on an all-funds basis โ€” the total across the general fund, federal grants, and dedicated state funds. This is the fairer measure, because states differ widely in how much they route outside the general fund. The general fund row shows the discretionary portion that state legislatures actually debate.

Fiscal years differ between states: most run July to June, Alabama and Michigan run October to September, and New York runs April to March. Figures labelled with the same fiscal year therefore cover slightly different periods.

Definitions for every term used here are in the US budget glossary. To compare across countries, see India budget comparisons.

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