Economy
Biden, McCarthy say they have brokered a debt limit deal to avert U.S. default
WASHINGTON — House Speaker Kevin McCarthy announced a deal in principle Saturday night that would stave off a first-ever default on the nation’s debt as long as it can clear both chambers of Congress before June 5. The agreement would address the nation’s debt limit and include a “historic” reduction in spending, McCarthy said, though […]
Low fertility rates, high housing prices mean fewer children in most states
Thirty-five states have fewer children than they did five years ago, a situation caused by declining birth rates nationwide, but also by young families migrating across state borders in search of cheaper housing. Even in the 15 states that gained children, all but North Dakota experienced greater growth in the adult population, meaning children now […]
The U.S. is undergoing its worst bird flu outbreak ever. Is a poultry vaccine the answer?
WASHINGTON — The deadliest outbreak of bird flu in U.S. history is prompting growing concern in Congress, and Department of Agriculture researchers are awaiting the preliminary results of four trials of vaccines for poultry. Some lawmakers are warming to the idea of a vaccination campaign, long considered a fringe idea due to the cost and […]
Fed’s fault-finding on bank failures could lead to stronger regulations
New banking regulations proposed by federal watchdogs don’t go far enough in countering potential problems, but could help lower bank fees and calm financial markets and nerves, leading to a more stable financial system, according to some economists. The Federal Reserve, FDIC and Government Accountability Office released reports last week blaming mismanagement of risk, including […]
Pro- or anti-capitalism? Lawmakers finalize anti-ESG pension investing bill
Indiana’s House on Monday signed off on the final version of a controversial proposal cracking down on the state’s pension investment managers — which its author said would “preserve” a free market while Democrats called it the “opposite of capitalism.” House Bill 1008 is a response to the popularity of “ESG” investing, when environmental, social […]
Major health, education and property tax proposals unclear as lawmakers enter last week of session
Indiana’s lawmakers are nearing the end of a grueling nearly four-month legislative session, but three of their biggest priorities — aside from the budget — remain unresolved. Legislators promised to push care-boosting, cost-cutting health initiatives, expand “school choice” options, and fight high property tax bills with relief. Plenty could change in the session’s final days, […]
IEDC battles $3 million mask lawsuit involving federal sting operation
Employees at a New York company thought they were arranging a $2.95 million face mask delivery — of what they claimed to be 1 million authentic masks — to Indiana’s Economic Development Corporation at the height of the pandemic. But the quasi-government agency was working behind the scenes on its own plans: helping federal agents […]
U.S. House GOP unveils plan on debt ceiling, spending cuts; Biden slams ‘wacko notions’
WASHINGTON — U.S. House Republicans unveiled a debt limit proposal Wednesday that would lift the nation’s borrowing capacity by $1.5 trillion or suspend it through March. The bill, introduced by Speaker Kevin McCarthy, carries along with it numerous Republican initiatives that are unlikely to get the bipartisan support necessary to clear the divided Congress. That […]
Lawmakers get unexpected $1.5B for budget in latest forecast
The General Assembly will have another $1.5 billion under the latest forecast to incorporate in the two-year budget before session ends in just ten days. “Indiana is doing great, investments are showing the fruits of our labor,” said Rep. Jeff Thompson, R-Lizton. “It gives more flexibility and we’ll find a spot to land.” Sen. Ryan […]
Eli Lilly announces expanded $1.6B investment at groundbreaking for Boone County district
Snowflakes couldn’t stop the long-awaited groundbreaking of two new Eli Lilly manufacturing sites within the LEAP Innovation and Research District in Boone County Monday — with local, state and federal officials on hand to throw dirt and celebrate. Lilly’s Chair and CEO Dave Ricks used the moment to announce an expanded investment of $1.6 billion. […]
Lawmakers strip key bill of most property tax relief
House legislation tackling high property tax bills lost the majority of those provisions during a Senate committee meeting Tuesday, with senators saying “permanent” relief could come in the future after Indiana reduces pension liabilities. Republicans instead inserted three food and beverage tax bills into the proposal, wading into a local dispute. “It looked like we […]
I tried to pay my taxes in cash – here’s what happened
About two-thirds of all U.S. residents who file federal income taxes typically get a refund. Unfortunately, this year I am among the other third who owe the Internal Revenue Service money. So I tried something I’ve never done before and few people do: I wanted to pay my tax bill in cash – that is, […]