(Jeff Taylor - Community First Broadcasting Staff Photo)Iowa (RI) — A Republican state senator from Sioux Center says he supports efforts to boost manufacturing, but he has concerns about the incentive package proposed for a new steel plant in southeast Iowa.
State Sen. Jeff Taylor says he cannot support the bill in its current form.
The Iowa Legislature is scheduled to convene Friday to vote on legislation that would provide about $1.4 billion in tax credits for the project announced at the White House on Monday.
Taylor says his concerns developed as he learned more about the proposal and the incentives negotiated by the Reynolds administration.
Taylor says he is not convinced the state would recover its investment through the economic activity generated by the project. He also questions using taxpayer dollars to support a privately owned foreign company.
Taylor says Gov. Kim Reynolds has told Republican legislators no changes will be allowed to the bill outlining the deal.
Other GOP lawmakers have voiced support for the proposal. State Rep. Bob Henderson of Sioux City says the incentive package may sound large, but it is relatively small when compared to the overall size of the project.
Henderson says the plant would provide an incredible boost to Iowa’s economy.
Henderson says the thousands of construction jobs and permanent positions associated with the project would generate additional tax revenue for the state.
The Legislature is scheduled to convene in Des Moines at 8:30 a.m. Friday.
