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Local, state, and federal highlights in this week's memo include:
- August Inflation Numbers Paint Grim Picture
- Governor Holcomb Appoints Indiana Court of Appeals Judge
- Indiana’s Abortion Law Takes Effect
- Federal Rail Strike Narrowly Averted
- Governor Holcomb Appoints David E. Veleta to Fill IURC Vacancy
- U.S. Leaders Visit Purdue Nanotech Center
- Indiana’s August Unemployment Rates See Slight Uptick
- IPS Schools Unveil District Overhaul Plan
- Important Dates
August Inflation Numbers Paint Grim Picture
What’s new: With the release of August’s inflation numbers, it looks like the the previous predictions of a soft landing in the markets were wrong. The price of gasoline has continued to fall, but data shows essentials like food, rent, and medical care are still rapidly rising.
By the numbers: The overall Consumer Price Index rose a mild 0.1% in the month, but that was helped by a 10.6% drop in gasoline prices. The underlying details were considerably more alarming.
- Excluding food and energy, prices were up 0.6% in August. Over the last three months, all items except energy rose at a 7.4% annual rate, faster than during the spring.
- Shelter costs rose 0.7%, the highest in a single month since 1991.
- Medical care costs were also up 0.7%. Both accelerated from earlier in the year.
Why it matters: This news likely further solidifies the Federal Reserve's plans to raise interest rates another 0.75 percentage point next week. But it does raise the odds of sustained tightening for the remainder of this year.
The bottom line: Get ready for tighter money as the central bank reads into this report more urgency to act. (Axios)
Governor Holcomb Appoints Indiana Court of Appeals Judge
What’s new: Last Thursday, Indiana Governor Eric Holcomb appointed Judge Peter Foley to the Indiana Court of Appeals. Judge Foley will succeed Edward W. Najam following his retirement.
What they’re saying:
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“Judge Foley brings to the bench a calm and confident demeanor no matter the case before him or its complexity,” said Holcomb in a statement. “The Indiana appellate courts will benefit from his extensive experience, his compassion to do what’s right and his sense of justice.”
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“I am humbled and deeply honored by Governor Holcomb’s appointment,” said Foley in a statement. “I look forward to the opportunity to work with the other judges of the Court of Appeals for the advancement of justice in the State of Indiana. I am privileged to follow Judge Najam, who exemplified the characteristics of a strong judicial leader. I remain committed to the rule of law, leadership within the judiciary, and service to my community.”
What’s next: The date of Foley’s robing ceremony will be determined by the Indiana Court of Appeals at a later date. (Indiana Capital Chronicle)
Indiana's Abortion Law Takes Effect
What’s new: Last Thursday, on September 15th, Indiana’s new abortion law officially took effect. Indiana is the first state in the nation to approve abortion-restricting legislation since the U.S. Supreme Court ruling that overturned Roe v. Wade.
The details:
- The new law outlaws all abortions except in the case of a fatal fetal anomaly and cases of serious health risk to the mother. *These exceptions are up to 20 weeks post-fertilization, but another part says they can be used anytime. We can expect this to be revised during the 2023 legislative session in January.
- Rape survivors can get an abortion up to 10 weeks post-fertilization. Parental consent requirements are waived for a minor under the age of 18 who is pregnant as a result of rape or incest by a parent, legal guardian, or custodian.
- The restrictions in Indiana’s abortion statute do not apply to in vitro fertilization, miscarriages or ectopic pregnancies.
- Access to contraceptives and emergency contraceptives like Plan B also remain unaffected.
- There are no criminal penalties for women who receive abortions, even if they undergo the procedure illegally.
Dive deeper:
- Under the law, surgical abortions can only be done in hospitals or standalone ambulatory surgical centers owned by a hospital.
- Physicians must refer eligible patients out, unless they have admitting privileges at particular hospitals; then, physicians and patients will travel to qualifying facilities for the procedures.
- Drugs for medication abortions can only be dispensed in-person by physicians. The pregnant woman must consume the drug in the presence of the doctor.
- The ban strips abortion clinics of their state medical licenses, effective Thursday. Abortion providers across the state say they will not be able to offer the procedure in most situations.
What’s next: Two lawsuits have been filed that challenges the new law.
Federal Rail Strike Narrowly Averted
What’s new: After nearly twenty hours of negotiations last week, President Biden announced the White House had reached a "tentative agreement" to head off a rail-worker strike that was causing disruptions across a range of industries.
Why it matters: This was the latest crisis to pop up in the game of supply-chain whack-a-mole we've played for two-plus years.
- Virtually every part of the economy — including food and energy — needs functioning railways. A strike would drive up prices at a time when inflation is showing signs of remaining stubbornly high.
The bottom line: The labor dispute on the rails highlighted yet again how the pandemic surfaced unrest and dissatisfaction in the workforce, as well as the still-recovering fragility of the nation's supply chain. (Axios)
Governor Holcomb Appoints David E. Veleta to Fill IURC Vacancy
What’s new: In an announcement made last week, Indiana Governor Eric Holcomb appointed David Veleta to fill a vacancy on the five-member Indiana Utility Regulatory Commission, which regulates electric, natural gas, telecommunications, steam, water and sewer utilities in the state.
The details: Veleta has worked for the IURC since 2009, most recently as a senior administrative law judge. Prior to joining the IURC, Veleta served as a deputy prosecutor in the Marion County Prosecutor’s Office.
What they’re saying:
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“David is well-respected in the utility industry, by the IURC Commissioners and staff members,” Holcomb said in written remarks. “He has a solid understanding of the complex industry as it relates to assessing affordability and exploring current and future generation. He will be an asset to Indiana’s utility regulation.”
The bottom line: Veleta succeeds David Ober and his term will end on Jan. 31, 2024. (IBJ)
U.S. Leaders Visit Purdue Nanotech Center
What’s new: Last Tuesday, The U.S. Secretary of State, Antony Blinken, visited Purdue University to tour Purdue’s Birck Nanotechnology Center where they met students researching semi-conductor technology.
The details: The tour included the Scifres Nanofabrication Laboratory, which has one of the world’s largest university cleanrooms. Tour guests also were briefed on the university’s new suite of semiconductor degree programs, ranging from undergraduate through graduate study, and Purdue’s Scalable Asymmetric Lifecycle Engagement (SCALE), a preeminent U.S. program for semiconductor workforce development in the defense sector.
Why it matters: With the CHIPS Act signed last month, it will invests 280 billion dollars into increasing the production of semi-conductors. Most of that funding will go to universities like Purdue, to make the technology better.
What they’re saying:
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"Semiconductors play a central role in all of that,” Indiana Governor Eric Holcomb said. “This is just a natural extension of the very mature supply chain that we already offer not just Hoosiers for careers but the world for advancement.”
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"What we've seen this morning is for me an incredible source of optimism," Antony Blinken the U.S. Secretary of state said. (WRTV)
Indiana’s August Unemployment Rates See Slight Uptick
What’s new: Indiana’s August unemployment rate saw a slight rise in the past month, moving from 2.6% in July to 2.8% in August while the national rate jumped from 3.5% to 3.7%.
Why it matters: August’s numbers marked the third consecutive month that Indiana’s unemployment rate has risen. It rested at a record low of 2.2% for several months through May, and then climbed to 2.4% in June and 2.6% in July.
Yes, but: The state’s labor force participation rate improved slightly from 63.3% in July to 63.4% in August, which was slightly higher than the 62.1% national rate.
- In effect, a labor force participation rate of 63.4% means that more than a third of Hoosiers of working age (16 and over) are not employed and are not seeking work.
- An estimated 95,096 Hoosiers are currently unemployed and seeking jobs, the state reported. That’s up from 87,889 in July.
What they’re saying:
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“The best news in this report is that both the number of Hoosiers employed and the Indiana labor force as a whole continue to grow. This means more Hoosiers are taking advantage of employment opportunities that exist,” said DWD Interim Commissioner Josh Richardson, in a media release. (IBJ)
IPS Schools Unveil District Overhaul Plan
What’s new: Last Tuesday, during the State of the District, Indianapolis Public School unveiled a plan that will close or merge seven schools, while 39 others will change the grades they serve.
Under the proposed plan:
- Changes will be made to the grade configuration of the vast majority of district-run schools. Sixteen K-6 schools and 17 K-8 schools will convert to K-5s. The district’s four 7-8 middle schools will expand to serve grades 6-8. Two K-8 schools — William Penn Elementary and the Edison School of the Arts — will change from K-8 to 6-8.
- Seven schools will close their buildings after the current school year. Three of those schools will merge with other schools.
- Sixteen schools will be getting facility upgrades or new buildings.
- It does not affect most innovation schools within IPS, largely run by charter operators, which could opt to change their grades levels.
- The proposal also doesn’t directly affect independent charter schools
- IPS will move away from its disjointed system of multiple overlapping enrollment zones for its various choice schools. Instead, it will offer four larger enrollment zones across the district.
- IPS will offer $10,000 retention bonuses for staff members affected by the changes, $12,000 for principals impacted by school consolidation and $20,000 for principals undergoing a school closure. Those retention bonuses must receive approval from the state.
What they’re saying:
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“Twenty miles from here, there are communities that act on the knowledge that all their kids deserve unlimited futures — where all the schools have offerings rich enough to stir a child’s imagination,” Superintendent Aleesia Johnson said at her annual State of the District speech on Tuesday night. “It’s time for us to not just talk about it, but act like our kids, here in Indianapolis Public Schools, have infinite possibilities too. Because they do.”
What’s next: The plan will till must be approved by the school board sometime in late fall. (IN Chalkbeat)
Important Dates
- Wednesday, September 21st at 1pm - Interim Study Committee on Child Services
- Thursday, September 22nd at 12:30pm - Administrative Rules Review Task Force
- Monday, September 26th at 10am - 21st Century Energy Policy Development Task Force
- Monday, September 26th at 1pm - Interim Study Committee on Pensions Management Oversight
- Tuesday, September 27th at 10am - Interim Study Committee on Energy, Utilities, and Telecommunications
- Wednesday, September 28th at 1:30pm - Interim Study Committee on Roads and Transportation
- Thursday , September 29th at 10am - Housing Task Force
- Monday, October 3rd at 11am - Interim Study Committee on Financial Institutions
- Tuesday, October 4th at 10:30 am - Interim Study Committee on Courts and Criminal Code
- Tuesday, October 4th at 12pm - Interim Study Committee on Public Health, Behavioral Health, and Human Services
- Wednesday, October 5th at 10am - Interim Study Committee on Government
- Wednesday, October 5th at 1pm - Interim Study Committee on Child Services
- Monday, October 17th at 1pm - Interim Study Committee on Pension Management Oversight
- Wednesday, October 19th at 10am - 21st Century Energy Policy Development Task Force
- Thursday, October 20th at 10am - Housing Task Force
- Thursday, October 20th at 12pm - Interim Study Committee on Public Health, Behavioral Health, and Human Services
- Thursday, October 27th at 10am - Housing Task Force
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