VIDEO: Time to Move Forward and Improve Indiana’s Infrastructure

Indiana Chamber President Kevin Brinegar discusses the importance of improving Indiana’s infrastructure. 2016 looks to be the “year of infrastructure” at the Statehouse, and Brinegar asserts “Indiana can’t wait for Washington to act.”

D.C. Fly-in with Congressional Delegation Sept. 16-17

7324001Don’t sit on the sidelines when you could be influencing laws and regulations under discussion in Washington. Make an impact by attending the Indiana Chamber’s D.C. Fly-in on September 16-17. (Note: Our hotel room block expires Sunday so book your reservations this week!)

The event offers business and community leaders an opportunity to speak with Indiana’s congressional delegation and key staff members during a roundtable discussion/dinner on September 16. The second day features a panel of national and state issue experts, followed by numerous group visits to congressional offices.

By September, the 2016 presidential campaign will be in full swing with a number of members of Congress running for re-election. Dominant issues in Washington and beyond will include transportation, tax reform, repatriation of overseas funds, Obamacare and immigration.

Cost is $149 per person and group discounts are available. Each attendee is responsible for securing travel arrangements. Discounted hotel rooms are available for Chamber Fly-in guests at The Liaison Capitol Hill. Register online.

(The D.C. Fly-in is sponsored by Zimmer. The breakfast program is sponsored by Faegre Baker Daniels. Additional sponsorship is provided by Duke Energy. Thanks to these fine businesses for their support.)

Fighting Mr. (Brain) Freeze

Ragan recently featured a useful article on how to handle a brain freeze when you’re speaking in public. Whether you’re a CEO, manager or in the cases they presented, a political candidate, handling such an instance with grace could go a long way toward disaster control.

They use the following two video examples of former Texas Gov. Rick Perry and Florida Sen. Marco Rubio as the right and wrong ways to handle this. Although, in fairness, one wonders how Sen. Rubio would have handled the last part of his speech if he was unable to eventually find the final page.

Federal Highway Funding Deadline Nears

36601064The current federal funding stream for highways runs its course July 31. The Senate is looking at a four-year option, while the House appears more in favor of extending it through this year and soon revisiting the matter.

Every member of Indiana’s delegation is keenly aware of the situation. While in D.C. this week, the Indiana Chamber continued to advocate for a long-term solution to financing the federal Highway Trust Fund. A patchwork of re-authorizations that are often only for a few months is no way to manage transportation assets, set national priorities or plan for future needs. U.S. Transportation Secretary Anthony Foxx said in his letter this week to state departments of transportation:

“Congress’s failure to pass a long-term bill is of great concern to all of us who are engaged in the work of building and maintaining our nation’s transportation infrastructure. Careening from self-inflicted crisis to self-inflicted crisis undermines our system. We need Congress to break the cycle of short-term extensions; we need a long-term bill with significant growth.”

A Look at Indiana State Budget Estimates

19145168The monthly revenue estimates referenced in connection with Indiana’s state budget and commonly used to evaluate how Indiana is doing can be confusing because they change periodically and result in different baselines. First, there are the estimates on which the budget is formed – those established by the revenue forecasters in mid-April each year that a two-year budget is put together by the Legislature. And then there are the most recent revised estimates – updated by the forecasters each December.

If you look closely enough at the reports from the budget agency each month, you can discern the differences. Appropriately, the budget agency compares the actual monthly collections to the most recent updated estimate. But if you go beyond their summary, commentary and main chart you can find out how the monthly revenues compare to the original numbers on which the budget was formed.

Since we are now into the last month of fiscal year 2015 and the last month of our current two-year budget that was written in April of 2013, it seems a good time to look at just how well those forecasters did. While the numbers fluctuate considerably from month to month, with 11 of 12 months actual collections known, they are off by less than 1% (just .8 of a percent.) They projected collections of $13,152,600,000 and actual year to date collections were $13,042,800,000. They were off by $109.8 million, or eight-tenths of a percent, statistically as good as anyone can reasonably expect. In fact, it is pretty extraordinary and the forecasters are to be commended for such accurate work. Good, reliable projections are important to the fiscal integrity of our state.

And our fiscal picture doesn’t look bad at all right now. The collections now stand at $211.3 million or 1.6% above the revised/updated projections (those made in April of this year.) But it is not the estimates that are the real indicator of how the state is doing. It is a comparison of actual year-to-date collections that show actual growth. Those same monthly reports also show how the current fiscal year-to-date collections compare to the actual collections through the same period of the prior fiscal year. With the fiscal year nearly complete, Indiana is 3.6% above the prior fiscal year collections. And most encouraging is the 4.4% year-to-date growth in sales tax (our biggest revenue stream) and the 6.9% growth in individual income tax (the next biggest).

Boiling all this down there are two points: (1) the state forecasters do a great job, and 2) the present fiscal picture of the state looks good.

D.C. Fly-in is Your Chance to Speak Up

7324001Don’t sit on the sidelines when you could be influencing laws and regulations under discussion in Washington. Make an impact by attending the Indiana Chamber’s D.C. Fly-in on September 16-17!

The event offers business and community leaders an opportunity to speak with Indiana’s congressional delegation and key staff members during a roundtable discussion/dinner on September 16. The second day features a panel of national and state issue experts, followed by numerous group visits to congressional offices.

“It’s ideal to get in front of lawmakers in D.C. so they can go back to their offices and get to work on what you just talked to them about,” emphasizes Cameron Carter, Chamber vice president of economic development and federal relations.

By September, the 2016 presidential campaign will be in full swing with a number of members of Congress running for re-election. Dominant issues in Washington and beyond will include transportation, tax reform, repatriation of overseas funds, Obamacare and immigration.

Dennis Faulkenberg, president and CEO of transportation advising company APPIAN in Indianapolis, has participated in the Fly-in for as long as he can remember. He’s helped coordinate office visits on Capitol Hill the last several years.

“Since I’ve spent some time lobbying in Washington, I know the Hill and how to get from one place to the other,” Faulkenberg comments. “It’s really special to meet with members of the congressional delegation, and voice your concerns and opinions about business in Indiana.”

Cost is $149 per person and group discounts are available. Each attendee is responsible for securing travel arrangements. Discounted hotel rooms are available for Chamber Fly-in guests at The Liaison Capitol Hill.

The D.C. Fly-in is sponsored by Zimmer. The breakfast program is sponsored by Faegre Baker Daniels. Additional opportunities are available by contacting Jim Wagner at jwagner@indianachamber.com or at (317) 264-6876.

Update on the Way for Indiana Government Book

HereIsYourIndianaGov15Here Is Your Indiana Government: 2015-16 Edition is the most comprehensive guide to governance in the Hoosier state.

Since its development in 1942, this book has been used by the community and hundreds of thousands of students (from sixth grade to college level) to learn about Indiana and how Hoosiers govern themselves. A variety of local government and agency updates will be included in the new edition.

Topics include:

  • Interesting facts about Indiana (demographics, state song, motto, origin of county names, notable natives, etc.)
  • Historical highlights of Indiana government development
  • State government (explanation of its departments/agencies and their functions, updated budget information, contact information including phone numbers and web addresses)
  • County government (origins of the counties, the elective county administrative officials and their function, council function, powers of the counties, services)
  • Cities and towns (creation, city classifications, incorporated towns, municipal government, public works)
  • Township government (divisions, schools, boards)

Large quantity discount pricing is available as follows:

  • 1 to 9 copies: $19.50 each
  • 10 to 25 copies: $12.50 each
  • 26 to 50 copies: $10.00 each
  • 51 to 75 copies: $8.50 each
  • 76 to 100 copies: $7.50 each
  • 101 or more: $7.00 each

To place your order, call (800) 824-6885, order online or email publications@indianachamber.com.

Highway Trust Fund Has Some Potholes

36601064The Congressional Budget Office asserts the national Highway Trust Fund would need $3 billion in ADDITIONAL revenue to keep funding transportation projects through the end of September. And it would need $8 billion if Congress chose to extend funding authority until the end of 2015. Read more via The Hill.

Obviously, there are serious challenges facing America’s road infrastructure.

Cam Carter, the Indiana Chamber’s vice president of economic development and federal relations, outlines the main problem.

“Congress needs to get its act together and summon the political will to fashion a long-term solution to the insolvency of the highway trust fund,” he asserts. “We’ve had our fill of short-term patches. Some will say that the highway fund is insolvent because today’s vehicles are more fuel efficient and that is depressing revenues going into the fund – and there is some truth to this. But, the greater truth is that Congress hasn’t raised fuel taxes to keep up with inflation since 1993 and that, more than anything, is the root of the problem.”

Lugar Leads the Way; Now About that Skills Gap

100_5793Our recent poll question asked you to tab the most influential Indiana senator since 1960. It can’t be too much of a surprise that Richard Lugar (foreign relations, nuclear security, agriculture and other areas of leadership) topped the voting. The results:

  • Lugar: 56%
  • Birch Bayh: 26%
  • Evan Bayh: 9%
  • Dan Quayle and Dan Coats: 4% each

The current poll (top right) seeks your insights on workforce challenges.

VIDEO: Mitch Daniels Discusses Cutting Government with Reason Magazine

Matt Welch of Reason magazine, a libertarian publication, sat down with former Indiana governor Mitch Daniels to discuss his thoughts on making government more efficient, as well as social issues, the debt and being president of Purdue University.