Overview / Major Events Big work remains before the 2018 Session of the Iowa General Assembly moves into shutdown mode for the year—and little of what was accomplished this week actually gets us much closer to that date. Why?—because House and Senate leaders remain apart on setting joint budget targets or a total amount to set aside for a final tax reform package. Senate leaders are insisting that House and Senate Republicans agree on the total tax cut amount in the tax reform bill and THEN set budget targets based on the remaining revenue. It appears the House would prefer to agree on spending targets first, and then see what remains for a potential tax cut. Regardless, until the Chambers agree on these two key areas, meaningful budget work will remain undone and additional time will be added on the back of the calendar. |
January Survey Results at a Glance:
OMAHA, Neb. (Jan. 18, 2018) – The Creighton University Rural Mainstreet Index declined slightly in January from December’s weak reading, remaining below growth neutral, according to the latest monthly survey of bank CEOs in rural areas of a 10-state region dependent on agriculture and/or energy. Overall: The index, like all indices in the survey, ranges between 0 and 100 with 50.0 representing growth neutral, fell to 46.8 from 47.8 in December. Though the overall index remained below growth neutral, it is significantly higher than the reading for January 2017. “While the overall Rural Mainstreet Index (RMI) for January declined and remained below growth neutral, year-over-year indices are trending higher. Clearly, based on our recent surveys, the negatives are getting less negative,” said Ernie Goss, Jack A. MacAllister Chair in Regional Economics at Creighton University’s Heider College of Business. When asked to name the greatest 2018 economic challenge for their banks, four in 10 bankers reported that loan defaults represented the biggest challenges for the year ahead. This is well ahead of the second ranked challenge of competition from Farm Credit coming in at 15.6 percent. Farming and Ranching: The farmland and ranchland-price index for January rose to 42.2 from 39.8 in December. This is the 50th straight month the index has fallen below growth neutral 50.0. |
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