Iowa approves pricy foreign-owned steel plant project in swing district

"Stop the Steal" — or rather, steel — has an entirely new meaning for some Iowa voters in 2026.
Protesters at the Iowa statehouse Friday carried signs reading "No Steel Steal!" as lawmakers raced through a one-day special session to award Mesabi Metallics $1.36 billion over ten years in tax incentives for a new steel plant in Lee County. Mesabi Metallics is owned by the Indian conglomorate Essar Group.
The Iowa House passed it 75-17, the Senate 28-19. Gov. Kim Reynolds signed it into law Friday night.
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