If the shutdown is short-lived, it won’t be very disruptive. But if the release of economic data is delayed for several weeks or longer, it could pose challenges, particularly for the Federal Reserve.
Shares in Indianapolis-based Eli Lilly and Co. were on the rise Wednesday after President Trump suggested the company would be next up to cut a deal over drug pricing.
Federal employees across Indiana will be furloughed or forced to work without pay beginning Wednesday after Congress failed to fund the government, leading to a shutdown.
Here’s what to know about the federal government shutdown that began Wednesday:
Senate Democrats voted down a Republican bill to keep funding the government for seven weeks on Tuesday night.
The government will shut down at 12:01 a.m. Wednesday if the Senate does not pass a House measure that would extend federal funding for seven weeks while lawmakers finish their work on annual spending bills.
The announcements are part of an effort to secure “Most Favored Nation” pricing deals with pharmaceutical manufacturers, an effort to link U.S. drug prices to the lowest cost of drugs paid by the wealthiest countries.
If Congress fails to approve a funding extension by the end of Tuesday, spending laws will expire and the U.S. government will become a bare-bones operation, continuing only functions necessary to protect life or public property.
White House aides, ahead of the meeting, made it clear the Republican administration had no intention to negotiate.
Federal funds expire when the fiscal year ends Tuesday night, and Congress appears deadlocked over a stopgap measure that would keep agencies online for seven weeks while long-term negotiations continue.
Trump’s recently enacted tax law sweetened a break for corporate research and development investments, a provision especially valuable to technology, pharmaceutical and manufacturing businesses. But some businesses won’t be able to take full advantage of the break.
A reduction in force would not only lay off employees but eliminate their positions, which would trigger yet another massive upheaval in a federal workforce that has already faced major rounds of cuts this year.
Still, Trump administration officials have been pushing Indiana Republicans to call a special session focused on redistricting. Most notably, Vice President J.D. Vance traveled to Indianapolis to speak with Braun.
The agency on Friday submitted possible guidance that includes greater detail on the occupations covered by the rule and who will qualify and what counts as a “qualified tip.”
Democratic leaders are adamantly opposed to the bill and are threatening a government shutdown if Republicans don’t let them have a say on the measure.
Other parts of Indiana’s HIP 3.0 proposal are still under consideration, including an expansion on provider taxes, cost-sharing requirements and wellness incentives.
Hospital leaders who spoke with Inside INdiana Business emphasized the bill wouldn’t increase funding, it would give hospitals access to funding that’s already been allocated.
New details on the state’s contract with ICE show Indiana could make millions of dollars on the detention-site deal.
Publicly traded RCI Hospitality owns and operates more than 60 clubs and sports bars and restaurants across the country, including PT’s Showclub Indianapolis, at 7916 Pendleton Pike.
The government estimates the move will save millions of dollars a year because electronic payments are much more cost-efficient.
