GOVERNOR KIM REYNOLDS HAS SIGNED THE BILL THAT’S DESIGNED TO EXTEND NEARLY ONE-POINT-FOUR BILLION IN STATE TAX INCENTIVES TO A COMPANY THAT PLANS TO BUILD A STEEL MILL IN SOUTHEAST IOWA:
STEELDEAL1 OC…….IN AMERICAN HISTORY.” ;14
THE PLAN EASILY CALLED CLEARED THE IOWA HOUSE FRIDAY AFTERNOON ON A 75 TO 17 VOTE.
REPRESENTATIVE. MATTHEW RINKER, A REPUBLICAN FROM BURLINGTON, SAYS THE PLANT COULD BECOME THE CORNERSTONE OF IOWA’S ECONOMY.
STEELDEAL2 OC…….ENTIRE NATION.” :14
THE LEGISLATURE CONVENED IN SPECIAL SESSION FRIDAY WITH THE SOLE PURPOSE OF VOTING ON CHANGES TO A STATE ECONOMIC DEVELOPMENT PROGRAM FOR LARGE-SCALE PROJECTS.
THE STATE SENATE PASSED THE BILL EARLY FRIDAY NIGHT ON A 28 TO 19 VOTE.
REPUBLICAN SENATOR JEFF REICHMAN GUIDED THE BILL THROUGH DEBATE.
HE’S FROM MONTROSE, ABOUT 20 MILES FROM THE SITE WHERE THE PLANT IS EXPECTED TO BE BUILT.
STEELDEAL3 OC………FOR IOWANS.” :07
A FEW DEMOCRATS QUESTIONED WHETHER THE PLANT WOULD EVER BE BUILT AND WHETHER THE COMPANY BASED IN INDIA HAD THE FINANCIAL WHEREWITHAL TO BUILD IT.
SIX REPUBLICANS IN THE SENATE OPPOSED THE TAX BREAKS.
SENATOR JASON SCHULTZ, A REPUBLICAN FROM SCHLESWIG, SAYS HE’S WORRIED THE STATE WON’T BE ABLE TO AFFORD THE TAX BREAKS — AND HE SAYS LEGISLATURE IS GIVING UP ITS RESPONSIBILITY TO MAKE DECISIONS ABOUT STATE SPENDING;
STEELDEAL4 OC………THE EXECUTIVE BRANCH.” :07
HOUSE SPEAKER PAT GRASSLEY SPOKE WITH REPORTERS AFTERWARDS, CALLING THE BILL A “PERFORMANCE BASED PLAN” THAT WILL ONLY PAY THE COMPANY IF THE STEEL MILL IS BUILT.
STEELDEAL5 OC………DO ECONOMIC DEVELOPMENT.” :10
THE SPECIFIC LOCATION OF THE PLANT HAS NOT BEEN DISCLOSED.
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