10/7 Torchbearer Weekly Policy Update
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- $120M More Needed for Indiana’s Behavioral Health Infrastructure, Report Says
- How Did We Get Here? Historical Analysis of Property Tax Reform Seeks Answers
- Indiana Department of Insurance Commissioner to Step Down
- Lilly to Invest Another $4.5B in Lebanon Site for New ‘Medicine Foundry’
- More Americans File for Unemployment Last Week; Layoffs Remain Historically Low
- U.S. Adds 254K Jobs in September, Blowing Past Expectations
- Indiana Ranks Well in National Fiscal Report, Earns a ‘B’
- Indiana Gubernatorial Debates
- Yom Kippur: The Day of Atonement
- Breast Cancer Awareness Month
- Share the Torchbearer Newsletter with Your Network!
- Important Dates
Let’s dive in.
$120M More Needed for Indiana’s Behavioral Health Infrastructure, Report Says
Indiana’s Behavioral Health Commission seeks $220 million for infrastructure expansion.
Why it matters: The funding aims to enhance Indiana’s 988 system and behavioral health clinic model, which are crucial for accessible mental health services across the state.
- This expansion could significantly improve crisis response times and service reach.
Driving the news: The commission suggests funding through increased alcohol and cigarette taxes, and a potential $1 surcharge for the 988 system.
- Lawmakers are urged to allocate $100 million in 2026 and $120 million in 2027.
What’s next: Indiana plans to double its behavioral health clinic sites by 2027, aiming for statewide coverage.
- The federal Medicaid Demonstration Program will support this initiative with over $200 million annually. (State Affairs)
How Did We Get Here? Historical Analysis of Property Tax Reform Seeks Answers
Property tax proposals align with historical trends of reactive policy changes.
Why it matters: Rising property values prompt systemic tax reforms affecting all homeowners and stakeholders.
- Increased deductions for homeowners could shift tax burdens to farmers and businesses.
The big picture: Indiana’s property tax history shows a pattern of reacting to crises with reforms, followed by periods of stagnation.
- The latest push for reform comes as property taxes rise, with a focus on long-term solutions.
What’s next: Proposed reforms by gubernatorial candidates vary, with plans to freeze rates, increase deductions, or provide income tax relief.
- Each proposal has implications for budget stability and housing market dynamics. (Indiana Capital Chronicle)
Indiana Department of Insurance Commissioner to Step Down
Amy Beard steps down as commissioner, Holly Williams Lambert to succeed her.
Why it matters: This leadership transition could impact ongoing initiatives and regulatory actions within Indiana’s insurance sector.
- Beard’s tenure included launching key databases and regulatory teams, enhancing the state’s insurance landscape.
Driving the news: Beard, who has been with the department since 2017, will leave her position on October 15.
- Lambert, IDOI’s Chief of Staff since 2011, will take over on October 16. (Inside Indiana Business)
Lilly to Invest Another $4.5B in Lebanon Site for New ‘Medicine Foundry’
The pharmaceutical giant invests an additional $4.5 billion at its Lebanon site.
Why it matters: This investment will boost Indiana’s role as a hub for advanced manufacturing and drug development, creating 400 new jobs and advancing the state’s economic landscape.
- The new Lilly Medicine Foundry will enhance research and manufacturing capabilities for next-generation medicines.
Driving the news: This latest funding brings Lilly’s total investment in the LEAP Lebanon Innovation District to over $13 billion.
- The site will include a unique facility combining research and manufacturing, set to open in 2027.
What’s next: Indiana plans infrastructure improvements to support further development.
- The state is committed to supporting Lilly’s expansion with road, water, and utility enhancements. (Inside Indiana Business)
More Americans File for Unemployment Last Week; Layoffs Remain Historically Low
The latest data from the Labor Department shows a slight increase in jobless claims, indicating potential shifts in the labor market.
Why it matters: Rising jobless claims suggest that high interest rates may be impacting the job market, which could influence the Federal Reserve’s monetary policy decisions.
- This comes as the Fed recently shifted focus to support the job market with its first rate cut in four years.
Driving the news: Last week’s jobless claims rose by 6,000 to a total of 225,000, surpassing analyst expectations.
- The four-week average fell slightly, reflecting ongoing volatility in the labor market.
The bottom line: While unemployment claims have increased, the numbers remain healthy, offering a complex picture of the economic landscape as the holiday season approaches.
- Retailers are preparing for the season by adjusting hiring plans, signaling cautious optimism amid economic challenges. (Inside Indiana Business)
U.S. Adds 254K Jobs in September, Blowing Past Expectations
U.S. job growth exceeded expectations in September, adding 254,000 jobs and lowering unemployment to 4.1%.
Why it matters: This report boosts confidence in the U.S. economy ahead of the election, showcasing strong job creation under the current administration.
- Vice President Harris narrows the economic trust gap with former President Trump.
- President Biden highlights job growth and wage increases as key successes.
Driving the news: The Federal Reserve’s recent interest rate cut aims to balance inflation and economic growth amidst a strong labor market.
- The rate was cut by 50 basis points, reflecting cautious optimism as inflation eases.
- Economists debate the pace of further policy adjustments.
What’s next: The labor market’s resilience is expected to influence upcoming Federal Reserve decisions and election narratives.
- Analysts foresee steady rate cuts if economic indicators maintain their current trajectory.
- Business leaders express cautious optimism about continued growth. (The Hill)
Indiana Ranks Well in National Fiscal Report, Earns a ‘B’
Indiana ranks 15th in the U.S. with a ‘B’ grade for its fiscal health, showcasing a strong financial position.
Why it matters: Indiana’s fiscal strength reflects its commitment to solvency, with a $3,600 taxpayer surplus and a $3 billion increase in funds available to pay bills.
- This financial health supports long-term economic stability and resilience.
- Transparency in fiscal reporting remains crucial for accountability.
The big picture: Indiana closed its fiscal year with $2.6 billion in reserves and outperformed 27 states that couldn’t pay their bills.
- The state has $37 billion in assets against $28 billion in liabilities.
- Challenges remain with unfunded pension liabilities and retiree benefits.
What’s next: Continued fiscal discipline and transparency are essential as Indiana navigates market fluctuations and forecasts future government service needs.
- The delay in filing its annual report, at 202 days, highlights areas for improvement in reporting standards. (Indiana Capital Chronicle)
Indiana Gubernatorial Debates
Indiana’s gubernatorial candidates clashed in two debates last week, focusing on issues like private school vouchers, government restructuring, and education reform.
Why it matters: The debates shed light on significant policy differences that could sway voters as early voting in Indiana is set to begin. Candidates’ positions on education and government efficiency may influence public perception and decisions.
Public vs. private education: Republican Mike Braun emphasized “universal school choice,” critiquing public schools and emphasizing the need for parental control in education. Democrat Jennifer McCormick criticized the voucher system, arguing that it unfairly excludes some students and needs reassessment. Libertarian Donald Rainwater echoed support for school choice but with a focus on fiscal responsibility.
Thoughts on reducing government: Braun touted his business experience as a model for government efficiency. McCormick countered by highlighting past labor issues at Braun’s company and her own experience leading a state agency. Rainwater suggested auditing state agencies for inefficiencies and overpayments.
What’s next: As the election approaches, voters have until October 7 to register, and early voting begins soon after. The outcome could reshape Indiana’s education policies and set a precedent for future debates on school funding and choice.
The bottom line: With key issues like education and government efficiency on the table, the candidates’ contrasting visions offer voters clear choices in the upcoming election.
Wednesday’s debate between Braun and McCormick is covered here. Thursday’s debate between all three candidates is covered here.
Yom Kippur: The Day of Atonement
Yom Kippur is the holiest day in the Jewish faith, observed this year from sunset on October 11 to nightfall on October 12.
The big picture: Known as the Day of Atonement, it has a profound emphasis on spiritual cleansing and renewal — after the 10 days of introspection they observe after Rosh Hashanah.
- Yom Kippur is a day of fasting, reflection, and repentance when the Jewish community seeks forgiveness for their sins and reconcile with God.
- They believe this is the day God determines their fate for the year ahead — so they strive to be better and to create a brighter future.
Traditions are sacred. Over a 25-hour fast, adults abstain from food, drink, technology, and superficial comforts. There are five synagogue services across Yom Kippur, and it is custom to wear white as a symbol of purity.
Breast Cancer Awareness Month
October is Breast Cancer Awareness Month (BCAM) and plays a crucial role in promoting early detection, supporting ongoing research, and advocating for better treatment.
Why it matters: Breast cancer is the second most common type in the U.S., where more than four million women today are living with it or have survived it. It’s the leading cause of death for women, and mortality rates among Black women 40% higher than in White women. Early detection is key.
Awareness, detection, and solidarity
BCAM started as a collaboration between the American Cancer Society and Imperial Chemical Industries, a pharma company, in 1985.
- Betty Ford, a vocal survivor, led the week-long campaign, inviting women to learn about breast health and share their stories. And it was later extended to be a full month of focus.
The ribbon became a symbol in 1992 when Estée Lauder put self-exam instruction — and millions of little pink ribbons — at their counters.
Three ways to raise awareness:
- Schedule a mammogram, or encourage someone in your life to. This is the best method for early detection. A major health panel recommends this for women 40 years old or older, every other year.
- Get active. Find a local race, walk, or ride to fundraise research.
- Wear pink. Encourage your family members, colleagues, and community to stand in solidarity with survivors.
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Important Dates:
- Health Care Cost Oversight Task Force - Tuesday, October 8 at 1pm
- Artificial Intelligence Task Force - Thursday, October 10 at 10am
- CANCELLED: Code Revision Committee - Tuesday, October 15 at 10am
- Interim Study Committee on Fiscal Policy - Tuesday, October 15 at 10am
- Interim Study Committee on Government - Monday, October 21 at 1:30pm
- State Fair Advisory Committee - Wednesday, October 23 at 1pm
- Interim Study Committee on Energy, Utilities, and Telecommunications - Thursday, October 24 at 10am
- Interim Study Committee on Pension Management Oversight — Monday, October 28 at 1pm
- Organization Day - Tuesday, November 19