2/3/2026 Torchbearer Weekly Policy Update
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- Senate Passes Massive Government Funding Package, Sending it to House
- Trump Names Former Federal Reserve Governor Warsh as the Next Fed Chair, to Replace Powell
- Who’s Running for Indiana’s Congressional, Legislative Seats
- State Representative exits GOP, eyes mayoral race
- Share the Torchbearer Newsletter with Your Network!
- Important Dates
Senate Passes Massive Government Funding Package, Sending it to House
The Senate voted 71-29 to pass a major funding package, avoiding a prolonged government shutdown.
Why it matters: The package includes five regular appropriations bills and a two-week stopgap for the Department of Homeland Security, crucial for maintaining governmental operations.
- A public backlash against federal immigration enforcement tactics prompted Democrats to push for changes, influencing the package’s final form.
The big picture: The funding bill must still pass the House and be signed by President Trump, with the House returning on Monday.
- Speaker Mike Johnson aims to fast-track the bill using a suspension of the rules, requiring a two-thirds vote.
What’s next: Democrats secured victories by rejecting proposed cuts to social services and demanding reforms to ICE and CBP.
- The temporary DHS funding gives Congress two weeks to negotiate a more permanent solution. (The Hill)
Trump Names Former Federal Reserve Governor Warsh as the Next Fed Chair, to Replace Powell
President Donald Trump announced his intention to nominate Kevin Warsh, former Federal Reserve official, as the next chair of the Fed.
Why it matters: Warsh’s appointment could align the Fed closer to the White House, potentially compromising its independence.
- This could lead to a shift in how monetary policy is influenced by political agendas.
- The independence of the Fed has traditionally been a safeguard against political influence.
The big picture: Warsh, a former Fed governor, is known for his hawkish stance on interest rates, contrasting with Trump’s desire for lower rates.
- Warsh has historically advocated for higher interest rates to control inflation.
- Trump’s push for lower rates aims to stimulate economic growth.
What’s next: Warsh’s confirmation by the Senate could lead to significant policy shifts, impacting borrowing costs and the broader economy.
- A potential reduction in interest rates could affect mortgages, loans, and credit costs.
- The confirmation process will be closely watched for its economic implications.
Trump’s economic policies: Warsh supports Trump’s deregulatory stance, which he believes could reduce inflationary pressures.
- Deregulation is seen as a way to spur economic activity.
- Critics argue it could lead to increased fiscal risk. (IBJ)
Who’s Running for Indiana’s Congressional, Legislative Seats
The Indiana Capital Chronicle will update weekly on candidate filings for Indiana’s congressional and legislative seats ahead of the May 5 primary.
Why it matters: All nine U.S. House seats, 100 Indiana House seats, and half of the 50 Indiana Senate seats are open this election cycle.
What’s next: The filing period concludes this Friday at noon. Keep an eye out for weekly updates as the Chronicle tracks the political scene.
Go deeper: Use this link to see updated filing lists by district.
State Representative exits GOP, eyes mayoral race
Republican Rep. Ed Clere is leaving the Indiana General Assembly after 18 years, citing political shifts under President Trump as a key factor.
Why it matters: Clere plans to run as an independent candidate for New Albany mayor in 2027.
Zoom out: Clere’s legislative focus on social safety nets and opposition to divisive issues highlights a broader ideological divide.
- He opposed recent GOP-backed bills on abortion, transgender care, and partisan school board elections.
The bottom line: Clere intends to serve out his term as a Republican but remains critical of the party’s direction. After his announcement, he was promptly removed from the Indiana House Republican caucus. His committee assignments will remain. (Indiana Capital Chronicle)
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Important Dates:
Important Session Dates:
February 19: Committee Report Deadline (Second Half)
February 23: 2nd Reading Deadline (Second Half)
February 24: 3rd Reading Deadline (Second Half)
February 25 through 27: Conference Committees
February 27: Anticipated Sine Die