10/28 Torchbearer Weekly Policy Update
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- Indiana Governor Summons Lawmakers for Redistricting Session Amid National GOP Pressure
- Medical Debt Tops $2 Billion for Hoosiers. Experts Say It’s Likely Higher.
- Social Security Administration Announces 2026 COLA Benefit Increase of 2.8%— What It Means For You
- U.S. and China Agree to a Trade Deal ‘Framework,’ Treasury Secretary Says
- Share the Torchbearer Newsletter with Your Network!
- Important Dates
Indiana Governor Summons Lawmakers for Redistricting Session Amid National GOP Pressure
Gov. Mike Braun has called for a special legislative session to address congressional redistricting in Indiana, set to begin on Nov. 3.
Why it matters: This move is driven by national Republican pressure to redraw Indiana’s district maps ahead of the 2026 midterms, potentially impacting political balance.
- Voter representation could be affected, with debates focused on ensuring fairness and compliance with new federal tax provisions.
What's next: The session will also address tax compliance issues following recent federal changes. The outcome could streamline processes for Hoosier taxpayers.
The intrigue: Senate Democratic Leader Shelli Yoder criticized the session as a "political stunt," highlighting tensions and broader implications for democratic norms.
Between the lines: With candidate filing for 2026 opening soon, timing is crucial. The session's efficiency will be tested, as will lawmakers' ability to meet national expectations. (Indiana Capital Chronicle)
Medical Debt Tops $2 Billion for Hoosiers. Experts Say It’s Likely Higher.
Roughly one in five Indiana residents has medical debt in collections, according to a 2022 report by the Indiana Community Action Poverty Institute.
Why it matters: Medical debt in Indiana tops $2 billion, placing the state 11th nationally for residents with debt in collections.
- The burden of medical debt hinders basic needs for many Hoosiers, highlighting a critical economic issue.
The big picture: The Indiana Community Action Poverty Institute is focusing educational efforts on debt management in La Porte County.
- Initiatives include negotiating bill reductions, setting up payment plans, and offering guidance on available assistance.
What's next: Indiana is exploring potential legislation to manage or protect against medical debt.
- A study committee may release recommendations by the end of the year. (WFYI)
Social Security Administration Announces 2026 COLA Benefit Increase of 2.8%— What It Means For You
The Social Security Administration announced a 2.8% cost-of-living adjustment (COLA) for 2026, increasing average monthly retirement benefits by about $56 starting in January.
Why it matters: For the 75 million beneficiaries relying on these checks, the COLA helps counteract inflation, though it may not fully ease the strain of rising costs.
By the numbers: The 2026 COLA aligns with expert forecasts, which anticipated a 2.7% to 2.8% increase.
- Over the past 20 years, the COLA has averaged 2.6%, with a peak at 8.7% in 2023 due to post-pandemic inflation.
Go deeper: Beneficiaries can estimate their 2026 check increase by multiplying their current monthly benefit by 2.8%.
- However, Medicare Part B premiums may rise by 11.6%, offsetting some of the COLA benefits. (CNBC)
U.S. and China Agree to a Trade Deal ‘Framework,’ Treasury Secretary Says
President Donald Trump and Chinese President Xi Jinping are poised to reach an agreement to prevent a looming 100% U.S. tariff on Chinese goods, according to Treasury Secretary Scott Bessent. A summit between the leaders is anticipated soon.
Why it matters: The deal could mark a major shift in global trade dynamics, reducing tensions between the world's two largest economies.
- The agreement aims to ease market concerns.
- Strengthening diplomatic relations is a key focus.
Driving the news: Bessent highlighted a "framework" for a meeting this week between Trump and Xi, which seeks to prevent harsher tariffs threatened by Trump from November 1.
- The discussion includes potential relief on China's rare earth export controls, crucial for U.S. tech and defense industries.
What's next: Trump is currently on a five-day Asia tour, planning to meet Xi in South Korea this Thursday.
- Further meetings are expected in Beijing and the U.S. early next year.
- Fentanyl control and significant agricultural purchases are also on the negotiation table. (NBC News)
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Important Dates:
Interim Study Committee on Commerce and Economic Development: Wednesday, October 29th at 10:00 am
Code Revision Committee: Thursday, October 30th at 10:30 am
State Fair Advisory Committee: Thursday, October 30th at 1:30 pm
Legislative Special Session: Monday, November 3rd
State Board of Education Meeting: Wednesday, November 5th at 9:00 am
Government Reform Task Force: Wednesday, November 5th at 1:30 pm
Strategic Energy Growth Task Force: Monday, November 17th
Organization Day: Tuesday, November 18th