7/14 Torchbearer Weekly Policy Update
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- Interim Study Committees Announcement
- 🚀 Bryan Bedford confirmed as FAA head
- 💡 Senators reintroduce Investing in Main Street Act
- 🚫 DEI references axed in Indiana policies
- 💸 Megabill's impact on Indiana's budget
- 🛑 EU delays tariffs amid trade talks
- Share the Torchbearer Newsletter with Your Network!
- Important Dates
Interim Study Committee Announcement
Breaking - Legislator assignments for interim study committees, commissions, and boards were announced earlier today for both the House and Senate.
Next steps: Now that committee members have been assigned, summer study meetings should start being scheduled soon. We will send out those important dates as soon as they are available.
Go deeper: Legislative topics established for interim study committees can be found here.
🚀 Bryan Bedford confirmed as FAA head
The U.S. Senate has confirmed Bryan Bedford, former CEO of Republic Airways, as the new FAA Administrator, during a critical period for the airline industry.
Why it matters: Bedford's appointment comes after recent aviation incidents, raising concerns about safety regulations.
- His leadership could influence the future of pilot training standards, a contentious topic among safety advocates.
The big picture: Bedford's experience in the aviation industry and backing from Republicans highlight a focus on modernization and industry support.
- However, his stance on the 1,500-hour pilot training requirement could lead to debates on safety versus efficiency.
What's next: Bedford will serve a five-year term, during which his policies will likely impact both airline operations and passenger safety.
- His immediate actions will be closely watched by both supporters and critics in the industry. (IBJ)
💡 Senators reintroduce Investing in Main Street Act
WASHINGTON – U.S. Senators Todd Young, Ruben Gallego, Jim Risch, and Tammy Duckworth have reintroduced the Investing in Main Street Act to boost small business investments by allowing banks to invest up to 15% of their capital in Small Business Investment Companies (SBIC).
Why it matters: This act aims to enhance capital access for small businesses, fostering growth and job creation across the U.S.
- Over the past five years, Indiana's small businesses received nearly $549 million from SBICs, underscoring the program's impact.
What they're saying: Senator Young highlighted the program's support for Hoosier businesses, while Senator Gallego emphasized the bill's role in empowering entrepreneurs to achieve the American dream.
- SBIA President Brett Palmer praised the legislation for removing regulatory barriers, urging swift Senate passage.
The big picture: Supported by Main Street Alliance and Small Business Majority, the bill addresses the gap between small business funding needs and available resources, aiming to drive economic growth and innovation.
🚫 DEI references axed in Indiana policies
Gov. Mike Braun's administration has eliminated hundreds of DEI-related initiatives from Indiana state government, following an executive order echoing federal actions by President Trump.
Why it matters: The removal of Diversity, Equity, and Inclusion policies raises concerns about the impact on state governance and minority rights.
- Over 350 DEI initiatives, including 70 trainings and 34 grant programs, have been removed.
The big picture: While some DEI practices are statutorily protected, others face elimination, affecting recruitment and educational programs.
- The State Budget Agency and Professional Licensing Agency are among those revising policies to comply with the new directive.
What’s next: As DEI practices are scrutinized, the state continues to maintain certain diversity programs due to legal protections.
- Efforts to balance merit and equity remain a point of contention in Indiana politics. (Indy Star)
💸 Megabill's impact on Indiana's budget
Indiana officials are evaluating the financial effects of the nearly 1,000-page megabill signed by President Trump, which reforms welfare, extends tax cuts, and boosts deportation efforts.
Why it matters: The bill could lead to significant changes in state finances, including a potential loss of hundreds of millions in federal funding.
- Medicaid reforms may result in Indiana losing $23 billion over the next decade, affecting healthcare access and rural hospitals.
The big picture: While Indiana's AAA credit rating remains intact, the state faces challenges in maintaining essential services amid budget constraints.
- SNAP administrative costs are expected to rise by $49 million, adding further strain.
What's next: As Indiana navigates these changes, leaders emphasize working with federal partners to implement reforms while safeguarding essential services.
- The state's response will play a crucial role in mitigating the impacts on Hoosiers. (Indiana Capital Chronicle)
🛑 EU delays tariffs amid trade talks
The European Union is delaying retaliatory tariffs on U.S. goods, initially set to begin Monday, as it seeks to negotiate a trade agreement with the Trump administration by August 1.
Why it matters: The postponement aims to avert a trade war that could affect global markets and economic stability.
- EU's biggest exports to the U.S., like pharmaceuticals and cars, are at stake, emphasizing the need for a diplomatic resolution.
The big picture: With $2 trillion in annual trade, the EU and U.S. have significant economic ties.
- EU's move to delay tariffs highlights its preference for negotiation over conflict.
What's next: Trade ministers from EU countries will meet to discuss strategies for dealing with U.S. tariffs and potential partnerships with China.
- The outcome of these negotiations could have lasting impacts on international trade dynamics. (IBJ)
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Important Dates:
We are awaiting interim study committee dates. Stay tuned!