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| Republican Legislators Christopher Rant and IOWA PRESS #3147>> Borg: A POLITICAL STANDOFF BETWEEN THE GOVERNOR AND LEGISLATIVE REPUBLICANS PUTS IOWA'S ECONOMIC DEVELOPMENT STRATEGY, THE VALUES FUND, ON THE ENDANGERED LIST. PERSPECTIVE FROM REPUBLICAN LEGISLATORS CHRISTOPHER RANTS OF SIOUX CITY AND JEFF LAMBERTI OF ANKENY ON THIS EDITION OF "IOWA PRESS."
FUNDING FOR THIS PROGRAM WAS PROVIDED BY "FRIENDS," THE IOWA PUBLIC TELEVISION FOUNDATION... GENERATIONS OF FAMILIES AND FRIENDS WHO FEEL PASSIONATE ABOUT THE PROGRAMS THEY WATCH ON IOWA PUBLIC TELEVISION; AND BY THE IOWA BANKERS ASSOCIATION... FOR PERSONAL, BUSINESS, AND COMMERCIAL NEEDS, IOWA BANKS HELP IOWANS REACH THEIR FINANCIAL GOALS. ON STATEWIDE IOWA PUBLIC TELEVISION, THIS IS THE FRIDAY, JULY 16 EDITION OF "IOWA PRESS." HERE IS DEAN BORG. Borg: IOWA'S DEMOCRATIC GOVERNOR AND REPUBLICAN LEGISLATIVE LEADERS ARE TRADING PROPOSALS TO GET THE $503-MILLION IOWA VALUES FUND BACK ON THE BOOKS. BUT THEY'RE ALSO TRADING INSULTS. CONSEQUENTLY, THERE IS NO AGREEMENT. AND THAT LEAVES THE VALUES FUND, ECONOMIC DEVELOPMENT CORNERSTONE, IN LIMBO. THAT'S BECAUSE IT WAS ORIGINALLY LINKED TO LEGISLATION THAT REPUBLICAN LEGISLATORS INCLUDED IN DEALING WITH TAX ROLLBACKS AND BUSINESS INCENTIVES AND LIMITATIONS IN COURT AWARDS, ITEMS THAT DEMOCRATIC GOVERNOR TOM VILSACK DIDN'T LIKE. THE IOWA SUPREME COURT RULED THAT VILSACK THEN EXCEEDED HIS AUTHORITY WHEN HE CARVED OUT WHAT HE DIDN'T LIKE, AND THE COURT VOIDED THE ENTIRE PACKAGE, INCLUDING THE VALUES FUND THAT ALREADY HAD BEEN DOLING OUT MILLIONS OF DOLLARS. IN RECENT WEEKS HERE ON "IOWA PRESS," WE'VE HEARD FROM BOTH GOVERNOR TOM VILSACK AND ECONOMIC DEVELOPMENT DIRECTOR MICHAEL BLOUIN, AND TODAY WE TURN TO THE GENERAL ASSEMBLY. ANKENY REPUBLICAN JEFF LAMBERTI IS PRESIDENT OF THE IOWA SENATE, AND THE SPEAKER OF THE HOUSE OF REPRESENTATIVES IS SIOUX CITY REPUBLICAN CHRISTOPHER RANTS. GENTLEMEN, WELCOME BACK TO "IOWA PRESS." Lamberti: THANK YOU. Borg: AND ACROSS THE "IOWA PRESS" TABLE: "DES MOINES REGISTER" POLITICAL COLUMNIST DAVID YEPSEN AND "ASSOCIATED PRESS" SENIOR POLITICAL REPORTER MIKE GLOVER. Glover: GENTLEMEN, YOU BOTH ARE STATEHOUSE VETERANS. YOU'VE BEEN THROUGH A NUMBER OF THESE KIND OF NEGOTIATING SESSIONS WHERE YOU AND A DEMOCRATIC GOVERNOR TRY TO WORK THINGS OUT. I'D LIKE YOU TO PUT YOUR HARD-HEADED POLITICAL HAT ON. WE'LL START WITH YOU, SENATOR LAMBERTI. IS THERE GOING TO BE A DEAL? IS THERE GOING TO BE A SPECIAL SESSION TO PASS SOME KIND OF A COMPROMISE? Lamberti: I THINK AT THIS POINT, IT'S A LITTLE HARD TO KNOW IF THERE IS. I'M NOT SURE WHERE WE GO FROM HERE. I BELIEVE THAT THE REPUBLICANS IN THE LEGISLATURE HAVE MOVED A LONG WAYS FROM WHERE WE STARTED ON OUR PROPOSAL. WE HAVE SEEN VERY LITTLE MOVEMENT ON THE PART OF THE GOVERNOR. IF WE'RE GOING TO GET A DEAL, I THINK IT'S GOING TO REQUIRE THE GOVERNOR TO COMPROMISE. THE GOVERNOR TALKS ABOUT GOVERNING IN THE MIDDLE. I THINK WE'VE DONE THAT. REMEMBER, WE STARTED WITH A COMPONENT THAT HAD A $310-MILLION INCOME TAX CUT. WE'VE MOVED ON THAT TWICE. WE HAVE NOT SEEN THAT KIND OF MOVEMENT FROM THE GOVERNOR. SO IF WE'RE GOING TO GET A DEAL, HE'S GOING TO HAVE TO COMPROMISE. Glover: WHAT'S YOUR BEST BET? Lamberti: WE'RE STILL WILLING TO WORK ON IT, AND WE'RE GOING TO CONTINUE TO DO THAT. AND IF THE GOVERNOR IS SINCERE ABOUT WANTING TO SOLVE THIS PROBLEM, WE'LL GET IT SOLVED. Glover: SPEAKER RANTS, WHAT'S YOUR BEST BET? IS THERE GOING TO BE A DEAL? Rants: HOUSE REPUBLICANS CERTAINLY WANT A DEAL. WE PUT TOGETHER THIS PACKAGE A YEAR AGO. THE THREE COMPONENTS -- SOME SORT OF TAX RELIEF, REGULATORY REFORM, THE VALUES FUND -- HOUSE REPUBLICANS WANT TO SEE ALL THREE OF THOSE IN SOME FASHION PASSED AND PUT BACK TOGETHER. WHAT HASN'T STARTED TO PLAY INTO THIS YET IS THE WHOLE QUESTION OF TIME. AND RIGHT NOW THE CLOCK IS TICKING. AS YOU POINTED OUT EARLIER, DOLLARS HAVE ALREADY BEEN DOLED OUT. THE FISCAL YEAR CLOSED LAST MONTH. WE'RE NOW IN THE 60-DAY PERIOD WHERE THE DEPARTMENT OF MANAGEMENT AND THE GOVERNOR'S OFFICE HAVE TO CLOSE THE BOOKS AND PUT FORWARD ANY BALANCE SHEET FOR THE STATE AUDITOR TO CERTIFY OUR FINANCIALS. THAT HAS TO BE DONE IN THE NEXT FORTY-FIVE DAYS. AS I SAY, THE CLOCK IS TICKING. AND THEY DON'T HAVE A STRATEGY FOR DOING THAT YET, OR AT LEAST THEY HAVEN'T SHARED ONE WITH THE AUDITOR OR WITH THE LEGISLATURE. SO WE'RE -- WE REALLY HAVE ABOUT FORTY-FIVE DAYS I THINK TO GET THIS FIGURED OUT AND PUT TO BED. Yepsen: MR. SPEAKER, AS DEAN MENTIONED, WE'VE HEARD FROM THE DEMOCRATS ON THIS ISSUE, SO WE WANT TO HEAR FROM YOU REPUBLICANS. WHAT SORT OF PRESSURES ARE YOU UNDER TO CUT A DEAL WITH THE GOVERNOR HERE? I MEAN, ARE THERE ECONOMIC DEVELOPMENT PROJECTS AT STAKE? IS THERE A POLITICAL ADVANTAGE TO CUTTING A DEAL? WHAT SORT OF PRESSURES DO YOU FEEL UNDER TO COME TO THE TABLE HERE? Rants: WELL, MY MEMBERS IN THE HOUSE ARE FEELING PRESSURES REALLY FROM BOTH SIDES. I MEAN PEOPLE WANT TO GET THE VALUES FUND BACK ON TRACK, BUT AT THE SAME TIME THEY ALSO WANT TO MAKE SURE THAT WE ATTEND TO THE NEEDS AND THE CONCERNS OF THE EXISTING BUSINESS COMMUNITY. I MEAN, IF YOU GO INTO THE BUSINESS COMMUNITY TODAY, YOU CAN GET WHIPSAWED PRETTY EASILY BOTH WAYS: PEOPLE WHO WANT TO SEE THE VALUES FUND RESTORED, BECAUSE WE DON'T WANT TO HAVE THE CLOSED-FOR-BUSINESS SIGN OVER THE STATE; BUT AT THE SAME TIME, YOU'VE GOT LEADERS IN THE BUSINESS COMMUNITY, MANUFACTURERS BIG AND SMALL, TALKING ABOUT, HEY, WHAT ABOUT US. YOU KNOW, WE'RE PAYING MORE IN WORKERS' COMPENSATION INSURANCE THAN WE WERE FOUR YEARS AGO. WHY CAN'T WE DO SOMETHING ABOUT THAT? TALKING ABOUT THE TAX CLIMATE. TALKING ABOUT A WHOLE HOST OF THINGS. AND THAT'S REALLY WHERE, WHEN THE REPUBLICANS INITIALLY PUT THIS PACKAGE TOGETHER, IT WAS A BALANCED APPROACH. SOMETHING TO TRY TO DRAW PEOPLE INTO THE STATE, AS WELL AS SOMETHING FOR THOSE PEOPLE DOING BUSINESS HERE. AND I THINK THE SENTIMENT STILL EXISTS TODAY. THE PROBLEM WITH THE GOVERNOR'S LATEST PROPOSAL IS IT REALLY ONLY ADDRESSES, YOU KNOW, THE 35 COMPANIES THAT ARE CURRENTLY RECEIVING BENEFITS OR AWARDS FROM THE VALUES FUND. IT LEAVES OUT COMMUNITY COLLEGES, IT LEAVES OUT THE BOARD OF REGENTS, AND IT CERTAINLY LEAVES OUT EXISTING MANUFACTURERS AND BUSINESS PEOPLE IN THE STATE. Yepsen: SENATOR LAMBERTI, SAME QUESTION. WHAT PRESSURES DO YOU FEEL AND DOES YOUR CAUCUS FEEL TO CUT SOME DEAL HERE? YOU HAVE A LOT OF REPUBLICANS IN THIS SENATE WHO DON'T THINK GOVERNMENT OUGHT TO BE IN THIS BUSINESS OF, AS THEY CALL IT, PICKING WINNERS AND LOSERS. SO WHAT SORT OF PRESSURES DO YOU FOLKS FEEL TO CUT SOME DEAL? Lamberti: WELL, WE CERTAINLY WANT TO HONOR THE OBLIGATIONS THAT ARE OUT THERE, AND I THINK THAT'S THE FIRST THING THAT WE WANT TO SEE HAPPEN. BUT THE PRESSURE WE'RE UNDER IS WHAT DO WE DO TO GROW THE ECONOMY. YOU KNOW, WE HAVE A JOB HERE TO ACTUALLY LOOK BEYOND WHAT HAPPENS NOW WITH THIS DISPUTE WITH THE GOVERNOR AND LOOK LONG TERM AS TO WHAT'S GOING TO HAPPEN WITH THE STATE OF IOWA. WE FUNDAMENTALLY BELIEVE THAT IF YOU HAVE AN ECONOMIC DEVELOPMENT STRATEGY THAT'S ONLY BASED ON HANDOUTS TO BUSINESSES AND IT'S A LIMITED NUMBER OF BUSINESSES THAT THAT'S A FAILED LONG-TERM ECONOMIC DEVELOPMENT STRATEGY. AND YOU HAVE TO HAVE TAX RELIEF AND YOU HAVE TO HAVE REGULATORY RELIEF, CHANGES IN THAT BUSINESS CLIMATE, IF YOU'RE GOING TO GROW THIS ECONOMY LONG TERM. THAT'S THE PRESSURE WE FEEL, THAT WE NEED TO DO SOMETHING NOW. AND WE HEAR ABOUT HOW WE'VE GOT A DECENT CLIMATE. WELL, THOSE ARE STATISTICS THAT ANYBODY CAN THROW OUT, BUT WHAT WE'RE LOOKING AT IS REALITY, WHAT'S GOING ON IN IOWA. AND THE FACT OF THE MATTER IS WE'RE NOT CREATING A LOT OF JOBS, WE'RE NOT GROWING OUR ECONOMY, WE'RE NOT BRINGING PEOPLE HERE, AND WE'RE CERTAINLY NOT KEEPING OUR YOUNG PEOPLE HERE. WE FEEL PRESSURES ABOUT TRYING TO GROW IOWA AND DO SOMETHING NOW, NOT SIX MONTHS FROM NOW. Borg: SPEAKER RANTS, GIVE ME A LOOK, AND OUR VIEWERS TOO, AT A LOOK AT WHAT'S HAPPENING BEHIND THE DOORS. YOU SAID A MOMENT AGO, "WE WANT A DEAL." SENATOR LAMBERTI SAID, "WE'RE STILL WILLING TO WORK ON IT." THAT INDICATES THAT EITHER YOU HAVE A WILLINGNESS OR THAT SOMETHING IS HAPPENING. SO WHAT ARE THE MECHANICS THAT ARE TAKING PLACE? Rants: A LOT OF THAT IS CONTINUING TO LOOK AT WHAT SORT OF OPTIONS ARE ON THE TABLE. I MEAN EVERY TIME -- SO FAR REPUBLICANS KEEP LAYING FORWARD NEW PROPOSALS. AND GRANTED, THE GOVERNOR, TO A CERTAIN EXTENT, HAS AN ADVANTAGE IN THAT HE CONSULTS WITH ONE PERSON... HIMSELF. YOU KNOW, JEFF HAS GOT TO CONSULT WITH 20 SOME MEMBERS. I'VE GOT TO CONSULT WITH 50 DIFFERENT PEOPLE BEFORE WE PUT SOMETHING TOGETHER. AND WE'VE TRIED VERY HARD TO MAKE SURE THAT OUR TWO CAUCUSES ARE UNIFIED WHEN WE LAY AN IDEA OUT THERE. THAT MAKES A LITTLE MORE CUMBERSOME AND A SLOWER PROCESS FOR US. BUT EACH TIME WE'VE LAID SOMETHING OUT. WE INITIALLY STARTED, IT WAS $300-MILLION IN TAX CUTS. WE REDUCED IT TO $150 AND NOW WE'RE TALKING ABOUT DEPRECIATION SCHEDULES FOR MANUFACTURERS IN THE STATE, SO WE KEEP MOVING ON THAT. INITIALLY, WHEN THE SENATE FIRST PASSED THE REGULATORY REFORM BILL, THAT HAD OVER A DOZEN DIFFERENT SECTIONS TO THAT BILL. WE WHITTLED IT DOWN IN HOUSE FILE 692, AND NOW WE'RE DOWN TO TWO SECTIONS THAT WE KEEP LOOKING AT. AND SO WE KEEP LOOKING AT HOW WE MASSAGE THOSE KINDS OF THINGS. THE FACT IS THERE IS ROOM FOR COMPROMISE. WE'VE DEMONSTRATED THAT WILLINGNESS FOR COMPROMISE, BUT THE GOVERNOR CONTINUES TO SAY NOTHING. AND I'LL USE JUST ONE EXAMPLE, AND THAT'S THE WORKERS' COMPENSATION REFORM. IT'S AN ISSUE THAT WE FEEL VERY PASSIONATELY ABOUT. IT'S ABOUT WHETHER OR NOT EMPLOYEES SHOULD BE COMPENSATED TWICE FOR THE SAME INJURY. WE BELIEVE EMPLOYEES SHOULD BE COMPENSATED IF THEY'RE INJURED ON THE JOB, BUT THE QUESTION IS SHOULD THEY BE COMPENSATED TWICE FOR THAT SAME INJURY. IT'S ALL BECAUSE OF A COURT CASE THAT HAPPENED A COUPLE YEARS AGO. THE GOVERNOR WON'T BUDGE ON THAT ISSUE. AND THE IRONIC THING IS IF YOU LOOK AROUND THE COUNTRY, OTHER STATES ARE TACKLING THIS ISSUE. CALIFORNIA, THE DEMOCRATS THAT CONTROL THE GENERAL ASSEMBLY AND THE REPUBLICAN GOVERNOR, SCHWARZENEGGER, WERE ABLE TO WORK OUT A COMPROMISE TO LOWER WORKER COMPENSATION RATES. Borg: SENATOR LAMBERTI, THERE'S THE CASE IN POINT RIGHT THERE. HOW MANY SIT-DOWN EYEBALL-TO-EYEBALL MEETINGS HAVE YOU HAD WITH THE GOVERNOR? Lamberti: WE'VE HAD SEVERAL AND WE'RE WILLING TO HAVE MORE. AND AS THE SPEAKER INDICATED, IT'S A LITTLE HARDER FOR US TO GET OUR FOLKS TOGETHER. AND WE'RE WILLING TO CONTINUE TO SIT DOWN AND MEET WITH THE GOVERNOR. WE'VE HAD SEVERAL -- Glover: IS THERE ANYTHING SCHEDULED RIGHT NOW? Lamberti: NO. Glover: SPEAKER RANTS, YOU SAID THAT THERE'S ABOUT A 45-DAY WINDOW TO SOLVE THIS PROBLEM BEFORE ALL THIS CERTIFICATION HAS TO START HAPPENING. WHAT HAPPENS IF THERE IS NO DEAL? Rants: I DON'T KNOW, MIKE. THE GOVERNOR HAS SAID HE WILL ACT ON HIS OWN. I THINK THAT'S VERY PROBLEMATIC AND I BELIEVE THAT'S DANGEROUS. THE IRONIC THING IS THERE'S NO PENALTY FOR BREAKING THE CONSTITUTION OR VIOLATING THE LAW IN THIS CASE. I MEAN IF YOU GET CAUGHT -- IF I GET CAUGHT DRIVING BACK TO SIOUX CITY TODAY DRIVING MORE THAN 65, I'M GOING TO PAY A FINE. THERE'S A SPEEDING TICKET THAT GOES ALONG WITH THAT. YOU BREAK THE CONSTITUTION, THERE'S NO PENALTY. YOU VIOLATE THE LAW IN THAT CASE, THERE'S NO PENALTY. IF THE GOVERNOR CHOOSES TO ACT ON ITS OWN -- ON HIS OWN, HE LEAVES OUT COMMUNITY COLLEGES, HE LEAVES OUT THE REGENTS, AND AT SOME POINT IN TIME, SOMEBODY -- I DON'T KNOW IF IT WILL END UP BEING THE AUDITOR IN TRYING TO CERTIFY THE FINANCIALS OR SOMEBODY ELSE IS GOING TO SAY, WAIT A MINUTE, GOVERNOR, YOU DON'T HAVE THE AUTHORITY TO MOVE ALL THIS MONEY AROUND AND HONOR AGREEMENTS THAT NEVER SHOULD HAVE BEEN SIGNED IN THE FIRST PLACE. IT IS -- IT WILL TRULY BE A MESS. Yepsen: SENATOR LAMBERTI, YOU'RE THE ONLY LAWYER AROUND THIS TABLE. SO WHAT HAPPENS IF NOTHING HAPPENS? I MEAN YOU ALL SAY WE'RE GOING TO HONOR THE COMMITMENTS THE STATE HAS. AREN'T YOU WORRIED ABOUT LITIGATION, THAT SOMEBODY IS GOING TO TAKE THE SPEAKER UP ON THIS QUESTION OF WHAT'S YOUR AUTHORITY TO BE HANDING OUT $60-MILLION CHECKS? AND IF THAT -- Lamberti: THAT IS -- Yepsen: ISN'T LITIGATION POSSIBLE? Lamberti: IT CERTAINLY IS AND THAT IS THE BASIC PROBLEM WITH THE GOVERNOR TRYING TO ACT ON HIS OWN, THE UNCERTAINTY, NOT JUST THE ISSUES OF THE FUNDING FOR COMMUNITY COLLEGES AND REGENTS, IT'S SOMEBODY COMING IN AND CHALLENGING THE GOVERNOR'S AUTHORITY. THEY COULD CLEARLY MAKE THE CASE THAT ANY AWARD THAT'S BEEN MADE AND ANY FUTURE AWARD IS WHAT WE CALL VOID OR VOIDABLE, AND THEN WE'VE GOT A PROBLEM. Yepsen: WELL, THE LEGISLATURE HAS SUED THIS GOVERNOR TWICE AND WON BOTH TIMES. WOULD WE SEE A THIRD TIME? WOULD WE SEE THE GENERAL ASSEMBLY SUE THE GOVERNOR OVER THIS, OR WOULD IT BE MORE LIKELY TO COME FROM SOMEBODY ELSE? Lamberti: I THINK IT WOULD BE MORE LIKELY TO COME FROM SOMEBODY ELSE. WE'RE GOING TO BE BACK IN SESSION IN JANUARY, AND THE TIMING WOULD BE AN ISSUE. YOU KNOW, BUT I THINK IT'S MORE IMPORTANT THAN THAT. YOU KNOW, TWICE THIS GOVERNOR HAS ACTED AND EXCEEDED HIS AUTHORITY, AND TWICE WE'VE HAD TO BRING AN ACTION. MY HOPE WOULD BE THAT HE WOULD SEE THAT THAT'S NOT A GOOD STRATEGY FOR HIM. THE PEOPLE OF IOWA EXPECT THE GOVERNOR TO ABIDE BY THE LAW, TO ABIDE BY THE CONSTITUTION. Yepsen: YOU'VE WORKED ON ECONOMIC DEVELOPMENT DEALS TOO, SENATOR. DOES THE MERE THREAT OF THIS THING -- I MEAN YOU COULD COME BACK IN JANUARY AND FIX IT. THERE'S A LOT OF TALK ABOUT DOING THAT, SO THE QUESTION IS ONE OF URGENCY. THIS UNCERTAINTY ABOUT THIS LITIGATION, DOES THAT IN ITSELF HAVE A CHILLING EFFECT ON ECONOMIC GROWTH IN THIS STATE? Lamberti: I DON'T THINK IT'S GOOD FOR COMPANIES LOOKING TO COME TO IOWA, ONES THAT ARE IN NEGOTIATIONS OR LOOKING -- AND CERTAINLY OUR COMPETITORS. THE STATES SURROUNDING IOWA AND ACROSS THE COUNTRY WOULD USE THAT AS A REASON FOR PEOPLE TO COME TO THEIR STATE AND NOT TO IOWA. THAT'S WHY WE ARE STILL INTENT ON TRYING TO SOLVE THIS PROBLEM. Glover: SPEAKER RANTS, THE SAME QUESTION TO YOU. IF NOTHING HAPPENS AND IF THERE IS NO COMPROMISE, THERE'S NO SPECIAL SESSION, THERE'S NO RESOLUTION OF THIS, THERE'S GOING TO BE A CLOUD HANGING OVER THE STATE'S ECONOMIC DEVELOPMENT. SO WHATEVER STEPS THE TWO OF YOU TAKE INDEPENDENTLY, ISN'T IN FACT THIS A CLOUD OVER ANY COMPANY THINKING OF LOCATING HERE? Rants: FOR A NEW COMPANY THAT'S LOOKING AT LOCATING HERE, IT JUST MEANS THERE ISN'T SOMETHING AVAILABLE. IF YOU ARE CURRENTLY A RECIPIENT OF THE VALUES FUND CONTRACT, YEAH, THAT IS CERTAINLY A PROBLEM. AND TO BE HONEST, THAT'S WHY THE GOVERNOR SHOULDN'T KEEP SAYING, "YOU KNOW WHAT, I DON'T NEED TO MAKE A DEAL. I'LL JUST WALK AWAY." THAT ISN'T BARGAINING IN GOOD FAITH. I MEAN REPUBLICANS HAVE NOT DONE THAT, AND YOU JUST HEARD THE SENATOR AND I SAY THAT, YOU KNOW, YOU'RE NOT GOING TO SEE THE LEGISLATURE BRINGING LITIGATION FORWARD ON THIS ISSUE. BUT THE FACT IS THE GOVERNOR, I DON'T BELIEVE, REALLY BARGAINS IN GOOD FAITH WHEN HE SAYS, "I DON'T NEED TO DEAL. I CAN WAIT UNTIL JANUARY. I'LL JUST DO THIS ON MY OWN." HE'S ONCE AGAIN, I BELIEVE, CROSSING THAT LINE AND NOT BARGAINING IN GOOD FAITH. I THINK A COMPROMISE EXISTS. I THINK A COMPROMISE CAN BE FOUND, BUT IT INVOLVES HIM COMING BACK AND SITTING DOWN AT THE TABLE DOWN WITH US AND TRYING TO WORK OUT THOSE PARTICULAR ISSUES. Glover: WELL, LET'S SAY I'M NOT A COMPANY LOOKING FOR SOMETHING FROM THE STATE. LET'S SAY I'M A COMPANY THAT'S ALREADY GOTTEN SOMETHING FROM THE IOWA VALUES FUND. LET'S SAY I'M COMPANY "B" THAT'S GOT $20 MILLION PROMISED TO ME FROM THE IOWA VALUES FUND. HOW NERVOUS SHOULD I BE THAT SOMEBODY IS GOING TO GO TO COURT AND TAKE MY $20 MILLION AWAY? CAN I COUNT ON IT? Rants: I THINK YOU PROBABLY SHOULD BE NERVOUS. UNFORTUNATELY, I THINK PEOPLE WILL BE VERY NERVOUS ABOUT THAT. AND AGAIN, THAT'S WHY THE GOVERNOR JUST SAYING HE CAN DO THIS -- I MEAN ALL THESE COMPANIES HAVE GOOD CORPORATE COUNCIL AND GOOD CFOs. THEY'RE JUST NOT GOING TO TAKE THE GOVERNOR AT HIS WORD. I THINK THEY'RE GOING TO WANT TO SEE SOME CERTAINTY IN THAT BEFORE THEY START EXPENDING THOSE DOLLARS. Borg: SENATOR LAMBERTI, IF THE GOVERNOR DOES ACT ON HIS OWN ADMINISTRATIVELY, THAT MONEY HAS TO COME FROM WITHIN STATE GOVERNMENT, ALREADY STRAPPED. WHERE IS IT LIKELY TO COME FROM, AND WHO'S GOING TO GET PINCHED? Lamberti: WELL, THAT WILL BE INTERESTING IF THE GOVERNOR DECIDES HE'S GOING TO ACT ON HIS OWN. THE MONEY ACTUALLY FOR THE VALUES FUND FOR THE FIRST TWO YEARS, THE HUNDRED MILLION DOLLARS, IS THERE BECAUSE IT WAS FEDERAL STIMULUS DOLLARS THAT CAME TO THE STATE. SO THE MONEY IS THERE. THE QUESTION IS THE AUTHORITY TO SPEND THAT MONEY. SO IT'S REALLY NOT AN ISSUE OF WHETHER OR NOT WE HAD THE FUNDING TO HANDLE THE FIRST TWO YEARS OF THE VALUES FUND. IT'S REALLY AN ISSUE NOW ABOUT AUTHORITY TO SPEND THOSE DOLLARS. Glover: SPEAKER RANTS, LET'S STEP BACK FOR A SECOND AND LOOK AT THE ELEMENTS OF THIS DEAL AND TALK ABOUT THE MERITS OF EACH ONE OF THEM. THE VALUES FUND, IS IT A GOOD IDEA? Rants: I BELIEVE IN THE VALUES FUND, AND I SOMETIMES CATCH CRITICISM FROM REPUBLICANS AROUND THE STATE BECAUSE I WAS WORKING VERY HARD TO PASS THAT TWO YEARS AGO. I REALLY DO BELIEVE IT'S IMPORTANT. AND I BELIEVE IT'S IMPORTANT BECAUSE FOR THE FIRST TERM OF GOVERNOR VILSACK'S ADMINISTRATION, WE REALLY NEGLECTED ECONOMIC DEVELOPMENT EFFORTS. THE DEPARTMENT OF ECONOMIC DEVELOPMENT WAS SORT OF TAKEN APART PIECE BY PIECE, AND THIS REALLY IS OUR DEPARTMENT OF ECONOMIC DEVELOPMENT ANYMORE. IT ALSO GOES TOWARD TRYING TO GET THOSE GOOD IDEAS AT OUR RESEARCH UNIVERSITIES, IOWA STATE AND THE UNIVERSITY OF IOWA, GET THOSE IDEAS OFF THE LABORATORY BENCH AND INTO THE MARKETPLACE. AND I THINK THAT THOSE KINDS OF THINGS ARE WORTH DOING. Glover: SENATOR LAMBERTI, WHAT'S THE SENTIMENT IN THE SENATE ABOUT THE IOWA VALUES FUND? IT SEEMS TO HAVE LESS SUPPORT THERE. Lamberti: IT PROBABLY DOES HAVE LESS SUPPORT, BUT I THINK YOU HAVE TO PUT IT IN CONTEXT. IT HAS LESS SUPPORT WHEN IT'S A STAND-ALONE, WHEN THAT'S YOUR ONLY STRATEGY FOR GROWING THE ECONOMY. I SHARE THE SENTIMENT THAT THE VALUES FUND HAS A LOT OF POTENTIAL, AND IT IS AN IMPORTANT COMPONENT. BUT WE HAVE TO COME BACK TO WHAT GROWS IOWA'S ECONOMY. WHERE DO OUR JOBS COME FROM IN LARGE PART? THEY COME FROM THE THOUSANDS OF SMALL BUSINESSES ACROSS THE STATE OF IOWA. THE FACT OF THE MATTER IS THE VALUES FUND IS NOT GOING TO DO A THING FOR MOST OF THEM. AND SO TO SIMPLY SAY WE'RE GOING TO HAND OUT MONEY AND THAT'S OUR ENTIRE STRATEGY WE BELIEVE IS A FAILED STRATEGY. THAT'S WHY WE'VE BEEN SO INSISTENT ON THE OTHER TWO COMPONENTS, THE TAX RELIEF AND THE REGULATORY RELIEF. THAT WILL CREATE JOBS AMONG THOSE THOUSANDS OF SMALL BUSINESSES ACROSS THE STATE OF IOWA. Yepsen: SENATOR, I WANT TO FOLLOW UP ON THE VALUES FUND. THERE'S CRITICISM COMING FROM TWO QUARTERS NOW ON THE VALUES FUND. LIBERALS ARE CRITICIZING IT: THAT IT'S NOT CREATING GOOD JOBS AND GOOD WAGES, THAT IN FACT IN SOME AREAS IT DEPRESSES WAGES; AND SECONDLY THAT YOU'RE NOT REALLY CREATING NEW JOBS, YOU'RE JUST RETAINING OLD ONES. HOW DO YOU RESPOND TO THOSE CRITICISMS? Lamberti: QUITE FRANKLY, SOME OF THAT IS LEGITIMATE. WE ARE, IN LARGE PART WITH THE VALUES FUND, PROPOSING TO RETAIN A FAIR NUMBER OF JOBS. PERSONALLY I THINK THAT'S OKAY BUT THAT'S NOT GOING TO GROW AND TRANSFORM YOUR ECONOMY, SIMPLY TO RETAIN JOBS. I THINK THE JURY IS STILL OUT ON THE JOB CREATION SIDE OF THIS. TO DATE VERY FEW JOBS HAVE BEEN CREATED. WE HAVE A POTENTIAL FOR THE CREATION OF A SIGNIFICANT NUMBER OF JOBS, BUT I THINK IT'S FAR TOO EARLY TO CALL THIS A SUCCESS. THE WAGE LEVELS, THAT ALSO REMAINS. I THINK THE PROJECTS THAT I'VE LOOKED AT, I THINK THE WAGE LEVELS ARE APPROPRIATE. BUT TO DATE, AGAIN, WE HAVEN'T CREATED VERY MANY JOBS WITH THE VALUES FUND. Yepsen: MR. SPEAKER, A SECOND -- WE'RE TALKING ABOUT THE ELEMENTS OF THIS DEAL HERE. WE TALKED ABOUT THE VALUES FUND. THERE ARE A COUPLE OF OTHER PIECES. ONE WAS THE TAX PIECE. THE OTHER IS THIS REGULATORY REFORM. I WANT TO ASK YOU ABOUT THE TAX CUT. IN YOUR NEGOTIATIONS WITH THE GOVERNOR, THE REPUBLICAN LEGISLATORS DROPPED THEIR REQUEST FOR A BIG TAX CUT, AND INSTEAD YOU AGREED WITH THE GOVERNOR THAT BUSINESS WOULD GET AN ACCELERATED DEPRECIATION, THEY'D GET A TAX WRITE-OFF. IS THAT THE END OF THE TAX CUT DISCUSSION? Rants: I THINK IT PROBABLY IS. I MEAN IT'S CLEAR, AS LONG AS TOM VILSACK IS GOVERNOR OF THE STATE OF IOWA, THERE WILL NOT BE BROAD, SWEEPING INCOME TAX REDUCTIONS. IT WILL NEVER PASS. I DON'T CARE WHAT YOU TIE IT DO. AND PERHAPS I'M BEING TOO PRAGMATIC IN THAT I'M LOOKING TO MOVE SOMETHING FORWARD, TAKE WHAT I CAN GET, YOU KNOW, NOT ALWAYS LOOKING FOR THE WHOLE LOAF. SO DOING SOMETHING ON ACCELERATED DEPRECIATION, COUPLING WITH THE FEDERAL GOVERNMENT, PUTTING MORE MONEY BACK INTO THE HANDS OF BUSINESS AND INDUSTRY AT A TIME WHEN THEY'RE LOOKING TO EXPAND I THINK IS A GOOD THING. SO WE'RE GIVING UP ON THE TAX CUT. Yepsen: I INTERVIEWED HIM RECENTLY AND HE TOLD ME THAT THE IMPEDIMENT ON TAXES IS FEDERAL DEDUCTIBILITY, THAT WE HAVE A COMPLICATED TAX SYSTEM WITH A HIGH RATE, AND THAT THE LEGISLATURE SHOULD DO SOMETHING ABOUT THAT. WHY WON'T YOU DO THAT? Rants: I'VE HAD GOVERNOR VILSACK TELL ME ALSO THAT PEOPLE AREN'T MOVING TO SOUTH DAKOTA BECAUSE OF THE TAXES. AND I HAVE ENCOURAGED HIM TO COME OVER TO SIOUX CITY THE SAME TIME GOVERNOR ROUNDS DOES AND TRIES TO PICK UP OUR BUSINESSES. Glover: SENATOR LAMBERTI, ANOTHER ELEMENT IN THIS PACKAGE IS SOMETHING SPEAKER RANTS REFERRED TO EARLIER, WORKERS' COMPENSATION REFORM TIGHTENING UP THE ABILITY OF INJURED WORKERS TO GET BENEFITS. HOW MANY WORKERS WILL BE AFFECTED BY THE PIECES IN THAT THING RIGHT NOW? Lamberti: WELL, IT'S TOUGH TO PREDICT BUT IT IS ESTIMATED THAT THIS WILL SAVE MILLIONS OF DOLLARS A YEAR FOR IOWA EMPLOYERS. AND AGAIN, IT COMES BACK TO THAT ISSUE OF SECOND INJURY OR SAME INJURY AND WHETHER YOU'RE WITH A DIFFERENT EMPLOYER, THE SAME EMPLOYER. WE DON'T KNOW HOW MANY EMPLOYEES AT THIS POINT WOULD BE IMPACTED, BUT WE KNOW IT'S A SIGNIFICANT SAVINGS TO EMPLOYERS THROUGHOUT THE STATE OF IOWA. AND THE OTHER THING IS THIS IS NOT UNIQUE TO IOWA. OTHER STATES HAVE ADOPTED THIS. WE'RE SIMPLY TRYING TO GET IN LINE AND GET COMPETITIVE AND SOLVE THE ISSUE THAT CAME UP IN THE COURT CASE, WHICH THE GOVERNOR PURPORTS TO WANT TO SOLVE. HOWEVER, WHEN IT COMES TIME TO PUT THE SOLUTION ON THE TABLE, HE DOESN'T WANT TO GO THERE. Glover: AS SPEAKER RANTS SAID, REPUBLICANS FEEL PASSIONATELY ABOUT THIS, BUT YOUR CRITICS SAY THAT IT DOESN'T REALLY INVOLVE THAT MANY WORKERS, IT DOESN'T REALLY INVOLVE THAT MUCH MONEY, IT'S JUST AN IDEOLOGICAL POINT. Lamberti: NO, I THINK THAT'S INCORRECT BECAUSE THE ESTIMATES THAT WE'VE SEEN IS IT'S MILLIONS OF DOLLARS A YEAR IN SAVINGS TO IOWA EMPLOYERS. Yepsen: MR. SPEAKER, ON WORKERS' COMP, THERE'S A STUDY THAT WAS DONE BY AN OUTFIT OUT EAST. IT SEEMS LIKE A FAIRLY DISPASSIONATE STUDY THAT SAYS IOWA'S -- THE PREMIUM COST TO EMPLOYERS IN WORKERS' COMP IN IOWA IS ABOUT 31ST AND YET IOWA PAYS THE BEST BENEFITS IN THE COUNTRY. NOW, THAT SOUNDS LIKE A PRETTY GOOD DEAL, ISN'T IT? I MEAN THE WORKERS ARE GETTING A NICE DEAL AND YET BUSINESSES ARE NOT HAVING TO PAY A LOT IN WORKERS' COMPENSATION PREMIUMS. WHY DO WE NEED TO MESS WITH THIS SYSTEM IF IT'S NOT BROKE? Rants: I'M NOT SURE THAT WE OUGHT TO BE -- FIRST OF ALL, I THINK THE PEOPLE YOU OUGHT TO TURN TO -- WHEN WE ASK THOSE QUESTIONS ABOUT ARE WE REALLY GETTING A GOOD DEAL, ARE EMPLOYERS PLEASED WITH WHAT THEY'RE PAYING, WE OUGHT TO TALK TO IOWA EMPLOYERS ABOUT IT. I'VE GOT EXAMPLES IN MY AREA WHERE IOWA EMPLOYERS THAT ALSO HAVE FACILITIES IN PLACES LIKE SOUTH DAKOTA ARE CHOOSING TO EXPAND AND ADD NEW JOBS ON THE SOUTH DAKOTA SIDE BECAUSE THEY'RE LOOKING AT THE COST PER EMPLOYEE: WHAT DOES IT COST TO DELIVER THIS PRODUCT ON A PER-EMPLOYEE BASIS? AND IT'S CLEARLY HIGHER IN IOWA THAN IT IS IN SOUTH DAKOTA. GRANTED, MAYBE IF YOU LIVE IN DAVENPORT OR DUBUQUE OR DES MOINES, IT'S NOT SUCH A BIG DEAL. BUT THE FACT IS WE DON'T ALL LIVE THERE. WE HAVE A LOT OF PEOPLE IN WESTERN IOWA THAT COMPETE AND MAKE DECISIONS EVERY DAY WHERE THEY'RE GOING TO BE, AND WE ARE NOT COMPETITIVE. WE HAVE SEEN -- WE HAVE SEEN THE INSURANCE RATE IN THIS STATE GO UP FOR THE COST OF PROVIDING WORKERS' COMPENSATION INSURANCE SPECIFICALLY BECAUSE OF THIS QUESTION OF BEING COMPENSATED TWICE FOR THE SAME INJURY. AND THAT HAS CAUSED THIS RACE. WE'RE NOT TRYING TO TAKE ANYTHING AWAY FROM THE WORKERS. WHAT WE WANT TO DO IS TO RETURN TO THE STATUS QUO PRIOR TO THE VENEGAS CASE. WE WANT TO GO BACK TO WHAT IT WAS, WHAT THE LEGISLATURE, WHAT THE WORKERS AND BUSINESS AGREED UPON IN CODE PRIOR TO THE VENEGAS CASE THAT CAUSED OUR INSURANCE RATES TO GO UP IN THIS STATE. Yepsen: THE GOVERNOR SAYS HE'S WILLING TO SETTLE THE DISPUTE ON THE VENEGAS CASE BUT YOU GUYS WANT TO GO BEYOND THAT. Rants: WE'RE NOT GOING BEYOND THAT, DAVID. WE'RE NOT GOING BEYOND THAT. THE GOVERNOR WILL SAY THAT IF YOU SWITCH EMPLOYERS, THEN YOU SHOULDN'T BE COMPENSATED TWICE, BUT IF YOU STAY WITH THE SAME EMPLOYER, YOU CAN BE COMPENSATED TWICE FOR THE SAME INJURY. SO YOU TREAT EMPLOYERS DIFFERENTLY. I DON'T UNDERSTAND THE GOVERNOR'S LOGIC BEHIND THAT, BUT THE FACT IS HE DOESN'T REALLY WANT -- OR HIS PROPOSAL DOES NOT REALLY RETURN US TO PRE-VENEGAS. Glover: SPEAKER RANTS, YOU'VE MENTIONED A COUPLE OF TIMES AND IT CRIES OUT TO THIS QUESTION. YOU'RE FROM SIOUX CITY. Rants: YES. Glover: IS IT ALL A RACE TO THE BOTTOM WITH SOUTH DAKOTA? WE SHOULD USE SOUTH DAKOTA AS A MODEL FOR OUR SCHOOL SYSTEMS, FOR OUR TAX STRUCTURE, FOR OUR BUSINESS CLIMATE? Rants: I DON'T VIEW IT AS A RACE TO THE BOTTOM, BUT I THINK IT'S A REALITY THAT WE NEED TO FACE IN THIS STATE. Glover: ISN'T IT A REALITY THAT WE'RE SURROUNDED BY A LOT OF OTHER STATES, MINNESOTA, WHICH HAS A MUCH DIFFERENT TAX STRUCTURE AND IS DOING ARGUABLY A LOT BETTER THAN WE ARE? Rants: WELL, YOU LOOK AT -- WHEN PEOPLE START TALKING ABOUT GREAT PLACES TO START BUSINESSES AND THE GREAT PLACES FOR ENTREPRENEURS TO BE, AND SOUTH DAKOTA CONTINUES TO RISE TO THE TOP. THE FACT IS I THINK IOWA CAN LEARN A FEW THINGS FROM SOUTH DAKOTA. THE FACT IS OUR COMMUNITY -- IF YOU PULL THE INCOME TAX STATISTICS FROM WOODBURY COUNTY OVER THE LAST TEN YEARS, WHEN YOU LOOK AT WHAT WOODBURY COUNTY IS CONTRIBUTING TO THE STATE OF IOWA AS FAR AS WHAT WE'RE PAYING FOR AS INCOME TAX -- PAYING FOR IN INCOME TAX TO THE WHOLE STATE POT, WOODBURY COUNTY CONTINUES TO DECLINE. AND THE REASON WHY IT'S DECLINING -- THE REASON WHY THE STATE OF IOWA IS COLLECTING LESS MONEY IN INCOME TAX REVENUE OUT OF MY PART OF THE WORLD IS BECAUSE ALL THOSE PEOPLE ARE NOW PAYING THOSE -- ARE LIVING IN SOUTH DAKOTA. Yepsen: SENATOR LAMBERTI, WHAT ABOUT THE FOURTH PIECE OF THIS, WHICH IS LAWSUIT REFORM? THERE'S BEEN -- YOU FOLKS WANTED TO PUT SOME CAPS AND RESTRICTIONS. THE GOVERNOR REFUSES TO AGREE TO THAT. WHERE DOES THAT DEBATE STAND? Lamberti: WE BELIEVE THE REFORM, PARTICULARLY ON THE PUNITIVE DAMAGE ISSUE, NEEDS TO BE A PART OF THIS AS WELL. NOW, WE HAVEN'T SPENT A LOT OF TIME TALKING ABOUT THAT TODAY, BUT THAT IS A CRITICAL COMPONENT. IT'S NOT JUST WORKERS' COMP. IT'S IMPROVING THAT LEGAL CLIMATE IN IOWA, SO WE'RE INSISTENT THAT WE DO SOMETHING ON THAT AS WELL. AND UNDERSTAND, WE ALSO, YOU KNOW, WOULD LIKE TO SEE THINGS LIKE MEDICAL MALPRACTICE THAT THE GOVERNOR VETOED. BUT WE HAVEN'T SAID WE'RE GOING TO BRING THAT BACK INTO THIS DEBATE. WE'VE SIMPLY TAKEN THOSE ORIGINAL TEN OR TWELVE POINTS THAT WE PASSED, AND WE'VE NARROWED THEM DOWN TO TWO. AND WE THINK THE GOVERNOR NEEDS TO COME TO THE TABLE ON THOSE TWO ISSUES, INCLUDING THE PUNITIVE DAMAGE ISSUE. Yepsen: THE GOVERNOR SAYS OUR LITIGATION CLIMATE IN THIS STATE IS NOT THAT BAD. HE QUOTES THE U.S. CHAMBER OF COMMERCE STUDY SAYS IT'S A PRETTY GOOD LITIGATION CLIMATE. WHAT DO YOU SAY IN RESPONSE TO THAT? Lamberti: WELL, IT'S KIND OF GETTING BACK TO THE STATISTICS. YOU CAN FIND THE STATISTICS TO SUPPORT JUST ABOUT ANYTHING YOU WANT, BUT I PREFER TO LOOK AT REALITY AND WHAT'S GOING ON. AND WHAT'S HAPPENING IS THE UNCERTAINTY ABOUT THE POTENTIAL FOR LARGE AWARDS, EVEN IF THEY HAVEN'T EXISTED IN THE PAST, IS WHAT DRIVES THE COST. IT'S WHAT DRIVES THE COST OF BUSINESSES FOR INSURANCE. IT DRIVES THE COST FOR DOCTORS TO GET THEIR INSURANCE, AND WE'RE FAST APPROACHING A CRISIS IN THAT RESPECT. IT IS TRUE WE DON'T HAVE LARGE JURY AWARDS, BUT WHAT WE'VE SEEN IN OTHER STATES WHO HAVE CREATED CAPS ON LARGE AWARDS, IT GETS RID OF THE UNCERTAINTY, WHICH REDUCES THE COST OF DOING BUSINESS. AND WE NEED TO DO THAT IN THE STATE OF IOWA. Yepsen: IN POLITICS, YOU OFTENTIMES SETTLE OR COMPROMISE A PROBLEM BY EITHER SPLITTING THE DIFFERENCE, MEETING AT SOME MIDDLE GROUND, OR BY INJECTING SOME NEW ELEMENT HERE. SO MY QUESTION TO YOU, SENATOR, IS IF YOU FOLKS CAN'T SPLIT THE DIFFERENCE ON THESE QUESTIONS, THEN ARE THERE NEW THINGS WE CAN EXPECT TO SEE INJECTED INTO THIS DEBATE, TRADEOFFS, TRY TO CUT SOME DEAL HERE? Lamberti: WELL, I THINK FIRST I WOULD START AND SAY WHAT WE OFFERED I THINK WAS SPLITTING THE DIFFERENCE. WE'VE ALREADY COME TO THE POINT WHERE WE'RE SPLITTING THE DIFFERENCE, AND THE GOVERNOR STILL SAYS NO. IS IT POSSIBLE THAT SOME NEW IDEAS COULD BE ENTERED INTO THIS DISCUSSION? I GUESS I WOULDN'T REJECT THAT. I KNOW I HAD HEARD THAT THE GOVERNOR WAS GOING TO COME BACK FROM HIS RECENT VACATION AND OFFER SOME NEW IDEAS. WE HAVEN'T SEEN ANYTHING ALONG THOSE LINES. WE HAD OFFERED IN THESE DISCUSSIONS, FOR EXAMPLE, TO GO AHEAD AND TRY TO FULLY FUND THE VALUES FUND. THAT'S A POTENTIAL IDEA. BUT IF WE'RE GOING TO DO THAT, I WOULD LIKE TO GET BACK TO THE ISSUE OF TAX RELIEF. Yepsen: HOW DO YOU ANSWER THE QUESTION MIKE RAISES. WHY IS IT THAT OUR GROWTH RATE IN THIS STATE IS HALF OF WHAT SOUTH DAKOTA'S IS? WHY IS IT THAT AMONG MIDWESTERN STATES, WE'RE AT THE BOTTOM? Lamberti: WELL, I THINK THAT'S WHERE YOU HAVE TO START LOOKING AT WHAT IS ACTUALLY GOING ON, WHY ARE WE NOT COMPETITIVE. WE CAN TALK ABOUT STATISTICS, ABOUT COST ON WORKERS' COMPENSATION, ABOUT WHAT'S GOING ON IN LAWSUITS. BUT WHAT OUR SMALL BUSINESSES WHO, AGAIN, DRIVE THIS ECONOMY TELL US IS THAT WE'RE NOT COMPETITIVE ENOUGH. NOW, LISTEN, WE'RE A SMALL STATE IN THE MIDWEST, AND WE DO HAVE TO LOOK AT WHAT OUR NEIGHBORS ARE DOING, LIKE SOUTH DAKOTA. IT'S NOT ENOUGH FOR IOWA TO BE IN THE LOWER THIRD OF STATES IN TERMS OF COMPETITIVENESS. WE HAVE TO BE MORE COMPETITIVE. Glover: SPEAKER RANTS, ON THIS PROGRAM NOT LONG AGO, JACK HATCH SAID THAT DEMOCRATS FEEL COMFORTABLE WITH HAVING THESE ISSUES TO TAKE INTO THE NEXT ELECTION. I'VE HAD REPUBLICANS TELL ME IN PRIVATE THEY'RE VERY COMFORTABLE WITH THE WAY THESE ISSUES ARE PLAYED OUT. AREN'T WE JUST RUNNING FOR AN ELECTION? Rants: I'M LOOKING FORWARD TO THE ELECTION. I STILL BELIEVE THAT THIS IS AN ISSUE THAT NEEDS TO BE ADDRESSED NOW AND THAT WE SHOULDN'T JUST WAIT UNTIL JANUARY, BECAUSE I DON'T LIKE THE UNCERTAINTY. I THINK THAT'S BAD FOR BUSINESS. I THINK IT'S BAD -- A BAD IMAGE FOR THE STATE. THE IRONY IN ALL OF THIS IS THAT WE'RE SPENDING A LOT OF TIME TALKING ABOUT 30 COMPANIES THAT HAVE CONTRACTS WITH THE VALUES FUND. WE HAD 300 BUSINESSES CLOSE THEIR DOORS LAST YEAR. WE NEED TO KEEP FOCUSING ON THEM. Borg: AND I HAVE TO CALL TIME. THANK YOU VERY MUCH FOR SPENDING TIME WITH US TODAY. AND THAT'S IT FOR THIS WEEKEND'S EDITION OF "IOWA PRESS." I HOPE YOU'LL WATCH NEXT WEEK, REGULAR AIRTIMES: 7:30 FRIDAY AND SUNDAY AT NOON. I'M DEAN BORG. THANKS FOR JOINING US TODAY.
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