The Voice of Iowa Business

May 24, 2018

Legislative News

Tomorrow: IIPAC Conference Recognition Deadline

If you haven't done so already, be sure to make your contribution to IIPAC by tomorrow's deadline so you can be recognized at conference in two weeks. IIPAC is ABI's political action committee. It allows us to support incumbent pro-business legislators and those running for office who seek to create a better business climate in Iowa. A strong PAC allows us to have a stronger voice at the Capitol, and we need your support. In recognition of the more than $100 million in savings for Iowa employers in this General Assembly, please consider making a $100 contribution by clicking here. A $100 contribution will also allow your name to be included as a Centennial Investor at the annual conference. Thanks to those who have already invested in IIPAC. We hope to see you in Coralville in two weeks.

Check Out the Primaries Matter Toolkit

With less than two weeks to go until primary election day, it's important to make sure you and your colleagues have the resources to be an informed voter. Tomorrow is an important deadline for the primary. It's the last day to request your absentee ballot by mail if you plan to vote absentee. Remember: If you are coming to the ABI conference and plan to vote in the primary on June 5, do so that morning, vote absentee in-person or request an absentee ballot by tomorrow, May 25. In addition to knowing the dates for the primary elections, ABI--through our iavotes.com website--has a Primaries Matter Toolkit. You can access it here . The information provided includes statistics about the importance of primary elections and tools you can use to communicate with your peers.

Although Sen. Nate Boulton (D-Des Moines) suspended his campaign for Governor on Thursday, there are several candidates still vying for the Democratic nomination to take on Gov. Reynolds. In addition to the gubernatorial primary, Democrats have competitive primaries in both Congressional District 1 and 3. You can learn more about the candidates for Governor, Congressional District 1 and Congressional District 3 by visiting the IAVotes Election Center .

Post-session Legislative Call on Monday, June 4

Remember to register for the legislative wrap-up call on Monday, June 4 at 10 a.m. The ABI public policy staff will provide an in-depth analysis of the 2018 legislative session. If you have already participated in a regional meeting, the information presented on the call will be very similar.

Iowa Workforce Development Files Final Rule, Removes New Severance Definition

Iowa Workforce Development (IWD) filed the final version of rules, which originally included a new definition of "severance pay." ABI members expressed concerns over the proposed definition, which restricted the term to "any payment based solely on the years of service and is not conditioned on the individual giving up any legal right or the release of any rights." ABI commented to the rules committee and IWD about the concerns. The proposed definition change was removed from the rules. We will work with IWD during the interim to clarify the practical implementation and meaning of severance pay in accordance with our policy committee process. For more information about this issue, please contact Jessica Hyland or Nicole Crain.

2018 Air Monitoring Network Plan Available for Public Review and Comment

The past few years ABI has commented to the DNR's Air Quality Bureau about the statewide monitoring network. Although the entire state benefits from the monitoring network, for many years Title V fee payers were picking up quite a bit of the cost, in addition to a small appropriation from the state general fund. The annual air monitoring network plan is now available on the bureau's Public Participation page under Public Input. The plan, along with comments received by the public, will be submitted to the EPA after a 30-day review period. The Air Quality Bureau must receive all public comments by June 21, 2018. If you are interested in commenting, or would like ABI to comment on your behalf, please let a member of the public policy staff know. Keep reading.

Iowa Makes Push to Hire More Veterans

Gov. Reynolds and Lt. Gov. Gregg unveiled a new initiative to hire more veterans in Iowa during their weekly press conference. The purpose of the Hiring Veterans Workshop is to educate state hiring directors about the benefits of hiring veterans. Veterans' resumes are often overlooked in the hiring process because they may not necessarily have the specific job experience, but they offer a unique skill set that can add value to state organizations. Many Iowa companies have a focus on hiring veterans and encouraging individuals to return to Iowa. The state is also encouraging veterans to work for the state government and held a hiring workshop. You can read the press release here.

Federal Spotlight: House Passes Dodd-Frank Rollback; President Signs Bill

Dodd-Frank, which put several new regulations and rules on financial institutions, was signed into law in 2010 following the financial crisis of 2008. On Tuesday, the House of Representatives passed a sweeping overhaul of the Dodd-Frank Act by a vote of 258-159. The bipartisan bill is geared towards providing relief to smaller and regional financial institutions from overly burdensome rules. One key aspect of the bill is it raises the asset threshold from $50 billion to $250 billion before banks are subject to stricter scrutiny and oversight from the Federal Reserve. The Senate previously approved the bill 67-31 in March. President Trump signed the bill into law on Thursday, but the Federal Reserve will play a large role in determining how much and how soon relief is actually given to these financial institutions.

From the Desk of...

The U.S. Shale Revolution -- Fueling The Fourth Industrial Revolution At Light Speed

Bryon Baker

Constellation

bryon.baker@constellation.com

In less than seven years, the Shale Revolution has propelled the U.S. to become the emergent hydrocarbon superpower of the world, tectonically shifting the global hydrocarbons trade from the East to the West.

Last year U.S. crude oil production eclipsed Saudi Arabia. Today, the U.S. is the world's largest producer of crude oil, natural gas and natural gas liquids (source -- International Energy Agency [IEA]). The U.S. is the world's largest exporter of refined petroleum (gasoline, diesel, aviation fuel), the largest exporter of natural gas liquids (propane, ethane, butane), the fifth largest exporter of crude oil and soon-to-be the world's leading exporter of natural gas (source -- IEA). The U.S. has been transformed, at light speed, into the world's dominant player in the hydrocarbon arena. This sea-change in the fortunes of U.S. energy is having enormous effects in secondary industries such as steel, steel tubing, valves, stamping, chemicals, transport, environmental services and a host of other industrial and service-sector concerns. Keep reading.