This week we recorded on Saturday, a day late, to cover Friday’s special legislative session on the proposed $15 billion steel plant in Lee County. Lawmakers approved roughly $1.5 billion in incentives, about 10% of the project’s estimated cost and the largest commitment Iowa taxpayers have ever made. Here’s what we dug into: * A done deal that wasn’t. Monday’s Oval Office announcement was billed as finished, with talk of no state incentives needed. We heard from Economic Development Authority director Debi Durham that the contract, utility work, and board approval are all still ahead. There’s also been no land purchase yet. * The Senate was the hard part. Republican Senator Dan Dawson, who chairs Ways and Means, voted against the bill and used his floor speech to question the rushed process and the governor’s negotiating. The bill still passed 28 to 19, and we talked about how those cushion votes get lined up. * Democrats were split. About half of House Democrats voted yes, with labor ties and union jobs pulling some members toward support, and we wondered whether the party made the most of the moment. * Politics over policy? We floated the theory that the rush was driven by the election calendar, and whether a presidential visit might follow. We also talked about the 4th District debate in Sioux City, where Chris McGowan walked a careful line on tariffs and Dave Dawson kept pressing on the war in Iran. We closed with the news that the 3rd District debate between Zach Nunn and Sarah Trone Garriott appears to be dead, and why TV debates are getting harder to schedule. If you are a free subscriber and are able to become a paid subscriber to help us cover costs of production you can click the link above. To make a one-time donation please click the link below. Any donation is welcome and we appreciate all of you that do. Thanks for listening we’ll see ya next week! Auto-generated transcript below: Dave Price: Hi, everyone. Welcome back to the Iowa Down Ballot podcast coming to you on Saturday. Usually we record on Friday. This week we have to go on Saturday because of that special legislative session that took place Friday. So much to talk about. From that, I want to bring in our panel this week. Eric Woolson, longtime journalist, longtime Republican strategist, catnip farmer. Welcome. Eric Woolson: Great to be here as always. This is sunset on Lucky Badger Farms, but it looks like sunrise. Dave Price: Yes. For those of you watching on video, you can see Eric’s incredible background. And then the two true stars of this week’s conversation who are rallying. Bad hamstrings. Shoulder cramps, whatever it is, they are out here. They’re both fighting through some stuff this week. Laura Belin and Kathy Obradovich, thank you both for powering through. We’ll see if your voices hold out. Laura Belin: It’s good to be here. Dave Price: In game time, the whistle goes and these two are right there. And Kathy, for those of you watching on video, proudly showing off her Iowa State shirt. Kathie Obradovich: Where are you, Ed Taylor, when I’m wearing my cyclone outfit? Laura Belin: Exactly. Dave Price: All right, everybody. So let’s turn back the clock, shall we? On Monday, there’s this press conference in the Oval Office with President Donald Trump, some of his administration. Attorney General Brennenburg, still not sure why she was there. She was right on his left side, I think. Standing there about this huge economic development deal, we had Ashley Hinson, we had Governor Reynolds, we had Senator Ernst, I think that’s all the Iowa folks, right? Marianne Miller-Meeks, sorry, Congresswoman, she was there as well. All right, so there… for the first time, releasing some of the details of this proposed $15 billion steel plant that would go somewhere in Lee County. We still actually don’t know exactly where this would be. So they lay this thing out. This would be the biggest, potentially, in our country, one of the biggest in the world. 6,000 construction jobs, 1,750 or so permanent jobs. In this location, and it partners, essentially, with the Esser Group. This would be the big company here. They have a Minnesota operation, so they have the iron ore there. Mine it there, bring it down through rail down to Lee County. You make the steel, and then you send it on down the Mississippi River, or so. Alright, so that comes out on Monday. On Friday, Governor Reynolds had called everybody back for this special legislative session. There are so many developments, it’s difficult to know where to start with this. How about we jump ball this at the beginning about the thing that stood out to you most about how this week… and for those of you who haven’t followed what happened this weekend, the legislature, to no surprise. Past incentives on this, it’s about a billion and a half. Which is roughly 10% of the… of the estimated price of this project. So the biggest commitment by the state of Iowa taxpayers that they have ever made before, there was a lot of ins and outs and drama and… meetings and all kinds of stuff that we’re going to get through this week, but Laura, the headline… what’s, like, the thing that stands out from you? Because there’s so much to dig into this, I couldn’t actually wait until we all assembled to talk about this, but what sticks out to you most about what happened? Laura Belin: The biggest thing for me yesterday is we had this role reversal for the last maybe five, six years. The Iowa Senate Republicans are usually lockstep in with the governor. And if she has trouble getting anything through the legislature, her problem is with the House Republicans. And yesterday, it was the Senate Republicans who almost… I mean, they had to make changes at the last minute to the Ways and Means Committee members to even get this bill through the committee. You had the Ways and Means chair vote against it in committee, speak against it on the floor, and so they barely had the votes to get this through the Iowa Senate. I did not expect that. Dave Price: Okay, I’m not trying to make fun of you, but speak against it on the Senate floor is not nearly a strong enough way to describe what happened. But let’s put a pin in that part. We’ll get to, we’ll come back to that. Don’t let me forget. Kathie, what, like, what’s the thing that stuck out more to most of you about what we just went through? Kathie Obradovich: What else is we? Yeah, I mean, what Laura said, for sure. But, earlier in the day, I mean, we’re going into the special session, after the… at this presidential news conference, it was called a done deal. No local, my gosh, I’m sounding really bad, sorry. No local or state incentives required. And so, it’s like, what are we talking about? Why are we doing… and it was Howard Lutnick, the Commerce Secretary, who said that. So what are we doing here? You know, why are we, you know, apparently throwing these… massive incentives at a deal that’s already done. And, Debbie Durham was questioned about that during the Ways and Means subcommittee meeting. And she basically said, yeah, I don’t know what he was talking about, it’s not a done deal. Even after the legislative session goes, there’s gonna be more process. The Economic Development Board has to do a contract. There’s gotta be, you know, even more process here with all of the utilities, all of that kind of stuff. So, far from being a done deal. And it did turn out to be, you know, they were portraying Iowa as still being in competition with Arkansas, which is one of the balloons that Dan Dawson poked on the Senate floor. I’m going to keep my remarks even shorter than this in the future. Sorry about this. I thought I sounded… Dave Price: Oh, not at all. Thanks for trying to power through here. Eric, what stood out to you about the way this week played out? Eric Woolson: You know, I’m gonna come at it from the perspective I think you guys have me on for anyway, which is a historical perspective, and in that sense, I’m gonna put on my former reporter hat rather than my consultant hat. And that is that deals like this don’t come together in a week. This, the whole thing seems so, so odd to me, and I think back years ago when Iowa was in competition for a Saturn plant, the Saturn carmaker. I don’t even know if they make Saturns anymore. Dave Price: I don’t believe they do. I had one back in the day. Eric Woolson: But, but the fact was when, when somebody wants something, when there’s competition for it, and I mean all of the states, Tennessee, Alabama, Iowa, Illinois, all these states were going after this Saturn plant, and now out of the sky like manna falls this massive steel plant that, as, as Kathie noted, it was either us or Arkansas, and I, I think Senator Dawson had… he had a terrific point about, you know, questioning why this thing was coming together so quickly, and what the rush was, but, you know, another thing I would always say as a business owner myself, I can tell you that every forward projection of revenues is, is overly optimistic. Dave Price: Yeah. Eric Woolson: And, and so I know we have this, the, the governor’s office was saying this is a set up where, you know, they’re not going to get the incentives until they actually comes forward with, with, finish the work. But, I’m just telling you that, I think there are a lot of reasons to look at this deal and say, why so fast? And is it going to live up to expectations? Dave Price: I think just hearing Eric, for… if we have anybody listening or watching, and you don’t really know a lot about Eric’s background, the reason it’s easier for us as journalists to work with Eric in the past, regardless of whether it’s his clients with the firm or on the political side is because he was a reporter. So you understand what we’re thinking. Now, of course, that could mean that you know how to outsmart u