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Iowa lawmakers approve economic development budget

DES MOINES, Iowa (AP) — The Iowa Legislature has approved an economic development budget as lawmakers push toward adjournment.

The Republican-controlled House and Democratic-led Senate backed the $42.3 million budget Thursday, which covers the Economic Development Authority and Iowa Workforce Development. The compromise budget is a slight decrease over the current year's funding, largely because the Economic Development Authority still has some funding from the current year to spend.

The House also approved a $51.8 million budget for administration and regulation, which includes dollars for the governor's office and the department of inspection and appeals.

Lawmakers are hoping to soon adjourn. They've agreed to a spending plan of about $7.3 billion for the fiscal year that starts July 1. The tentative deal includes $7.17 billion in ongoing spending, plus $125 million in one-time expenses.

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