The Indiana General Assembly has wrapped up another “long session.” Those are the sessions in odd-numbered years that traditionally run a full four months from the first week of January through the end of April. That gives lawmakers some extra time to consider the state’s biennial budget in addition to their normal legislative business.
Indiana’s banking community is fortunate to have a number of lawmakers in both the House and Senate with direct banking backgrounds and/or experience serving on bank boards, giving them better insight into how the laws they consider will impact not only Hoosier bankers but the communities we serve. One of those lawmakers is Sen. Travis Holdman, a Republican serving Adams, Allen, Blackford, Jay and Wells counties in the northeast portion of the state.
Sen. Holdman was gracious enough to take some time while still in the middle of this legislative session to answer some questions from Hoosier Banker about his experience in the Indiana Senate and how bankers can take part in advocacy engagement.
Why did you choose to enter public service?
I grew up in a God-fearing household where my parents were public servants, and they raised my seven siblings and me to find our God-given duty for service.
What are your responsibilities as majority caucus chair?
As caucus chairman, I am a part of our leadership team. I am tasked with scheduling and running our caucus conversations. I have been in the Indiana legislature since 2008, so I also bring institutional knowledge and am a mentor for younger legislators.
What would you like for bankers to understand about the legislative process?
Constituents and businesses are key to the effectiveness of the legislative process. Indiana banks and bankers are very much respected amongst legislators.
For bankers interested in increasing their advocacy engagement, what advice would you offer?
I would advise bankers to get to know legislators and the legislators who represent them. This could include sending an invitation for coffee, asking them to tour your bank’s facilities and/or tell the story of what your bank does for its community.
As a former board chair for the Community Bankers Association of Indiana and Indiana Department of Financial Institutions, you are well acquainted with the Indiana banking community. How do you see the state’s banking industry moving through the next few years?
It will be very difficult to wade through federal regulation for years to come as it has been difficult for small banks to cover the cost of compliance and improving technology with the onslaught of federal regulation on the industry. Make sure the banks are ready to take on these challenges.
You hold a very significant role as chairman of the Senate Tax and Fiscal Policy Committee. What are your key priorities or areas of focus moving through 2023 and into 2024?
I am focused on taking a holistic view of Indiana’s current tax structure with the upcoming tax commission work. Another priority is to continue to pay down the Pre-1996 Teachers’ Retirement Fund, which is a major obligation. Each year, we have a standard payment of about $1 billion we make to the fund. Once this pension plan no longer has an unfunded liability, Indiana will have freed up nearly $2 billion in the state’s biennial budget.
You were first elected to the state senate in 2008. What is one of the accomplishments you are most proud of from the past 15 years?
A few years ago, I was elected by my majority colleagues to become the Senate Republican Caucus chair. Becoming a leader in the caucus was a goal of mine, and I was very pleased when I was able to achieve that accomplishment.
Tell us a bit about your home life and favorite hobbies/pastimes.
My wife Becky and I enjoy traveling around the country and the world. We love to stay involved with our two children and our three grandchildren, with one on the way. We attend and I am a member of the board for the Tower Life Center church.
