Navigating the Economic Storm

On May 22 and 29, INEDA hosted Regional Meetings in Grand Island, NE, and Ankeny, IA. We had very good participation and attendance at both meetings.

This year’s workshop focused on economic factors affecting the market, including market forecasts and tax situations, including tariffs and how they will impact dealers, along with risk management in the workplace (preventing mishaps from happening).

Jay Rempe, an economist from Rolling Prairie Partners, from Lincoln, Nebraska, focused on the economy. Specifically, Jay talked about the farm economy, farm debt, farm income, land values, farm bankruptcies, futures outlooks for corn and soybeans, drought conditions, trade policy, possible tariff threats, and impacts of each on international trade. Jay touched on what he was seeing for the rest of 2025 and how that would impact 2026 and the year we can expect next year.

Marc Johnson, a CPA from Pinion, an accounting firm out of Kansas City, Kansas, expanded on the impact of current tariffs, possible tariffs, and how each could affect dealers and manufacturers. Marc also discussed the history of tariffs and the rates since their inception. He gave an overview of “the Big Beautiful Bill” and the importance of what is in it when it comes to tax breaks and certainty for farmers and dealers when and if it passes. He talked about the uncertainty surrounding markets, taxes, and how that has caused chaos in the markets and in making business decisions. Even though the bill was passed through the House, the Senate will amend it, making their changes and then send it back to the House for passage and then on to President Trump’s desk for him to sign.

Talks have said Congress would like to have this done by July 4th, but his view is that Labor Day Weekend is more likely.

Jerry Leemkill, from Federated Insurance, talked about fire prevention in the workplace, causes of the fires, the cost of a fire in the workplace, and risk management practices to mitigate having one of these incidents in your workplace. Jerry provided training materials, including posters and signage to display in dealerships.

Lastly, we were proud to introduce our members to some of the team from Forvis Mazars. Forvis Mazars is a recent sponsor of Iowa Nebraska Equipment Dealer Association. They are a nationwide accounting firm that specializes in many key topics and services to dealers across the country. Below is a list of some of the things that Forvis Mazars offers and works with dealers on.

If you were unable to attend this meeting, we will be sending out the recording to all of our members so you may view. If you have any questions or need information on how to get in touch with our speakers, please reach out to Phil or myself. Contact information is below. 

Phil Erdman Director of Dealer and Government Relations (402) 429-5726 phile@ineda.com

Jamie Mertz Director of Dealer and Government Relations (515) 320-3314 jamiem@ineda.com