KDSN RADIO News
Local lawmakers divide on Iowa steel mill incentive bill: Schultz explains no vote, Holt explains yes
Two western Iowa lawmakers representing portions of the KDSN listening area came down on opposite sides of legislation approved during Friday’s special session at the Iowa Capitol.
Lawmakers considered changes to Iowa’s Major Economic Growth Attraction, or MEGA, program that could provide expanded state tax incentives for a proposed $15 billion steel mill in southeast Iowa. The legislation passed the House 75-17 and the Senate 28-19 before being signed into law by Governor Kim Reynolds.
State Senator Jason Schultz of Schleswig voted no. Schultz says his concerns centered on the potential long-term impact of the tax incentives on Iowa’s state budget and giving the executive branch significant authority over future revenues tied to a project of this size.
State Representative Steven Holt voted yes. Holt says he viewed the proposal as an opportunity for Iowa to compete for a historic economic development project that could bring significant private investment and high-paying jobs to the state, while the incentives are tied to the project meeting investment and employment requirements.
KDSN spoke with both lawmakers following the special session and asked each to explain the reasoning behind his vote.
Listen below to the full statements from Senator Jason Schultz and Representative Steven Holt.
KDSN thanks both lawmakers for taking the time to provide their perspectives directly to our listeners.
