A new era of industrial policy kicks off with signing of Chips Act
The long-pursued bipartisan legislation looks set to spur construction of more than a half-dozen big semiconductor manufacturing facilities in the United States.
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Postal Service to request rate increase due to inflation, DeJoy says
Inflation is going to add more than $1 billion to the U.S. Postal Service budget, necessitating a request for another rate increase in January, Postmaster General Louis DeJoy said Tuesday.
U.S. inflation likely to stay high even as gas prices fall
Thanks largely to falling gas prices, the government’s inflation report for July, to be released Wednesday morning, is expected to show a small slowdown from the 9.1% year-over-year figure in June, which was the highest in four decades.
Special election to replace Rep. Walorski scheduled for Nov. 8
The special election announcement came almost one week after Walorski died in a northern Indiana car crash. Her funeral will be held Wednesday.
Hoosiers could see mailed tax refund checks as early as next week
After a paper shortage delayed the first round of checks by several weeks, all paper needed for printing has now been received, meaning checks can start going out, said a spokesperson for the state auditor’s office.
ESPN out of Big Ten Conference TV rights negotiations, sources say
Two people familiar with the negotiations told The Associated Press on Tuesday that the Big Ten was looking for a seven-year deal worth $380 million per year to broadcast its football and basketball games from ESPN, and the network declined.
Urban One CEO: Hot 96.3 hip-hop format likely to land at 100.9 FM frequency
With FCC decision on purchase of Emmis stations expected this month, Urban One makes plans for its local hip-hop and Top 40 formats.
Biden signs $280B semiconductor act in bid to boost U.S. over China
The deal could have major implications for Indiana’s economic development efforts as it works with SkyWater Technology Inc. to open a $1.8 billion semiconductor production facility in West Lafayette.
Fast-growing trampoline-park chain springs into Indy area, seeking new sites
Altitude Trampoline Park is looking for spaces that are at least 25,000 square feet, with 18-foot ceilings or taller, and is open to taking anchor spots in shopping centers.
COVID-disrupted grads face college: ‘I didn’t really learn anything’
After the disruption of online learning, first-year college students are arriving arrive on U.S. campuses unprepared for the demands of college-level work, experts say.
Most electric vehicles won’t qualify for proposed federal tax credit
A tax credit of up to $7,500 could be used to defray the cost of an electric vehicle under the Inflation Reduction Act now moving toward final approval in Congress. But the auto industry is warning that the vast majority of EV purchases won’t qualify for a tax credit that large.
Why did major Indiana companies stay silent on new abortion law—until it passed?
Despite negative impacts, Indiana’s largest employers didn’t weigh in publicly on the state’s new abortion law while it was being debated.
Mayor’s $1.4B proposed budget includes property tax credits for homeowners
Indianapolis Mayor Joe Hogsett introduced his 2023 city budget to the City-County Council on Monday evening, highlighting priorities of property tax relief, violence reduction, infrastructure improvements and education.
How the Inflation Reduction Act might affect millions of Americans
Major changes to the Affordable Care Act. The nation’s biggest-ever climate bill. The largest tax hike on corporations in decades. And dozens of lesser-known provisions.
Two nurses sue Hendricks Regional Health for underpayment due to time-clock rules
The nurses claim they were required to change into scrubs in locker rooms and travel to their work areas before they could punch in for their shifts, resulting in chronic underpayment. Hendricks Regional did not immediately respond to IBJ’s request for comment.
U.S. Interior Department calls for states to submit mine cleanup proposals
The extra funding in the infrastructure law is meant to both eliminate pollution from mining sites and to provide job opportunities in communities that have historically relied on coal mining. Indiana could get more than $24 million
Republicans block cap on patient insulin costs
GOP lawmakers had earlier tried to offer their own, more scaled-back version of an insulin price limit, but Democrats rejected it as too narrow.
Pfizer buying spree continues with $5.4B hematology deal
The pharmaceutical giant continues to invest some of the cash influx reaped during the COVID-19 pandemic. The drugmaker has announced deals valued at a total of nearly $19 billion, counting debt, since late last year.
Indianapolis-based Trava Security lands $4.5M in venture funding
This is the second major funding round for Trava, which was launched by High Alpha in 2020. The company offers cybersecurity risk management and insurance for small and medium-sized companies.
Ex-IUPUI chancellor Paydar confirmed for education department job
Nasser Paydar, who was nominated to the post by President Joe Biden, will work under U.S. Secretary of Education Miguel Cardona.