Economy

Indiana gas sales tax to hit 10-month low

BY: - December 23, 2022

Hoosiers will get to ring in the new year with cheaper gas, as Indiana’s gas sales tax drops to the lowest it’s been in nearly a year. Starting January 1, the monthly tax will be 19.9 cents per gallon, the Indiana Department of Revenue announced this month. That’s down from December’s 23.3-cent rate; the last […]

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State calls on Hoosiers to check federal internet funding map

BY: - December 21, 2022

Federal agencies have mapped out how well the entire country can access the internet, and plan to use the map in a funding formula — but they need help fine-tuning it before a January deadline. The Indiana Broadband Office is calling on everyday Hoosiers to submit challenges to the map to get the state the […]

Senate proposes reevaluating state’s tax structure

BY: - December 20, 2022

Some state senators are touting the possibility of reinventing Indiana’s tax structure to determine whether the state could eliminate individual and corporate income taxes. They say it’ll take pressure off residents and businesses, but it would also depress future revenue as others say Indiana needs to invest in its quality of life.  Sen. Travis Holdman […]

jobs housing

Voters embraced affordable housing initiatives. Advocates say Congress should do the same.

BY: - December 20, 2022

Voters in Colorado approved a statewide affordable housing initiative in November; while voters in nine cities across the country OK’d measures to finance the construction of affordable housing, preserve existing rental properties and support renters. But as housing costs soar, analysts and advocates say more needs to be done and argue that federal action is […]

Scientists announce a fusion breakthrough with big implications for clean energy

BY: - December 19, 2022

Scientists at a U.S. national laboratory announced recently that they achieved fusion ignition, a breakthrough decades in the making that could have major implications for clean energy.  Researchers at the Lawrence Livermore National Laboratory near San Francisco said that on Dec. 5, for the first time anywhere in the world, they managed to produce more […]

No disparity in gaming industry purchasing yet, study says

BY: - December 16, 2022

Indiana’s $2.5 billion dollar gaming industry is spending fairly on minority-owned and woman-owned contractors, according to a five-year disparity report out Thursday. “There hasn’t been and there is not a disparity,” said Indiana University Public Policy Institute Senior Policy Analyst Drew Klacik. He and fellow analyst Rebecca Nannery conducted the Indiana Gaming Commission Disparity Study […]

Here’s why food prices remain stubbornly high even as inflation cools

BY: - December 16, 2022

Shoppers hoping for a little relief at the grocery store for their holiday meals will be disappointed by the Consumer Price Index released Tuesday. The CPI shows inflation cooling but food prices — particularly for some holiday staples — remain high. The CPI increased 0.1% in November, which was lower than some economists expected. Over […]

Forecasts show additional money but slowing economy

BY: - December 15, 2022

Indiana’s days of exponential economic growth and revenues exceeding forecasts may soon be over, according to newly updated forecasts presented before the State Budget Committee Thursday.  The good news from the presentation is that lawmakers will have roughly an additional $1.6 billion to spend when they draft a new two-year state budget But GOP leaders warn […]

Legislators skeptical as agencies outline their needs

BY: - December 15, 2022

The Department of Child Services needs to increase rates for foster families and pay stipends for children in kinship care. More money is needed to develop a proposed 12,000 acre technology park in Boone County.  These requests for funding continued to filter in this week as the state begins drafting its two-year budget plan. Agencies […]

Companies invest $22B in Indiana this year, create 24k new jobs

BY: - December 15, 2022

The 218 companies that moved to Indiana or expanded their Hoosier activities this year committed to invest $22.2 billion in their operations and create more than 24,000 jobs, Gov. Eric Holcomb announced Wednesday. “Indiana’s economy is firing on all cylinders,” he said in a news release. “These investments and job commitments will transform our high-tech […]

FTX failure divides lawmakers on how tough to get with crypto regulation

BY: - December 14, 2022

Members of a U.S. House committee disagreed at a Tuesday hearing about whether more aggressive federal regulation would have protected customers from the collapse of cryptocurrency firm FTX and the alleged fraud of its founder, Samuel Bankman-Fried. Lawmakers at the four-hour House Financial Services Committee hearing appeared to view the unfolding scandal around Bankman-Fried, arrested […]

Agency budget presentations document big needs

BY: - December 9, 2022

Requests for funding are up across the board for state agencies in their budget presentations before the State Budget Committee this week, especially for personnel, construction costs and technology services. But key budget drafters have their concerns about whether the state can sustain those requests, especially when the forecast predicting the state’s revenues for the […]