Iowa Governor Signs Record Steel Plant Tax Credits
Gov. Kim Reynolds signed legislation approving $1.36 billion in tax credits for a proposed steel plant in Lee County. Lawmakers passed the bill during a special session with bipartisan support, despite concerns over the fast-tracked process.
Governor Kim Reynolds signed legislation Friday evening authorizing $1.36 billion in tax credits for a proposed steel plant in Lee County following a special legislative session. The package represents the largest tax incentive award in state history. The development follows an announcement by President Donald Trump regarding the $15 billion facility, which aims to establish a major manufacturing hub in the United States.
