STATEHOUSE (March 5, 2009) - State Sen. Brent Waltz (R-Greenwood) today called on Gov. Mitch Daniels to consider convening an Indiana Executive Committee to be spearheaded by Lt. Gov. Becky Skillman and include three academics, three business leaders and three government officials to work with the Indiana General Assembly to develop a long-range plan for Indiana's economy.

Modeled after President John F. Kennedy's famous "Ex-Comm" committee which helped guide the United State's foreign policy strategy during the 1960s in confronting the Cuban Missile Crisis, the executive committee would be charged with developing strategies to guide the state through and mitigate the damage of what Waltz called a "a perfect economic storm."

"Much to his credit, Gov. Daniels has continually issued a call for Indiana to face this global economic crisis bravely and boldly, and take steps to emerge from it a stronger, better Indiana," Waltz, a member of the Indiana Senate Committee on Insurance and Financial Institutions, said. "Consistent with that challenge, I believe assembling Indiana's sharpest minds - from academia, industry and government - and drawing on their collective wisdom and counsel, can help us forge the framework of a strategy to accelerate business investment and advance Indiana's economy into the future."

With economists forecasting that unemployment is likely to increase nationwide throughout 2009, the fate of the U.S. manufacturing and automotive sectors uncertain and the fact that states' economic recovery following recessions often lags the national economy, the time to chart Indiana's future economic course is now, Waltz said.

Waltz said the idea for the committee was the product of a number of private discussions with his colleagues in the Senate regarding the past, present and future condition of all corners of Indiana's economy - from farms to factories, living rooms to boardrooms.

"As lawmakers, too often it's easy for us to succumb to the temptation of responding to crises with reactionary, knee-jerk policymaking," Waltz said. "This panel would be a thoughtful, deliberative and above all, a proactive step toward fending off future financial crises for the next generation of Hoosiers."

Waltz, an investment banker, said that working in the financial sector has helped him to see the value of a comprehensive effort for Indiana to recover from the recession.

In addition to proposing the blue-ribbon panel, Waltz authored a bill that would task the Indiana State Board of Education with incorporating age-appropriate financial literacy skills into kindergarten through grade 12 curriculum.

"As evidenced by our state's place at the top of bankruptcy and foreclosure rankings, we need to do far more as a state to empower and prepare our young Hoosiers to navigate the economy as a smart consumer," Waltz said. "I commend my colleagues in the Senate for passing this bill in overwhelming bipartisan fashion, and hope my colleagues in the House support the bill and the governor signs it into law."

SB 126 passed the Senate by a vote of 46-2 in Feb. and was assigned this week to the House Committee on Education.

Waltz calls on Daniels to consider convening an expert panel in order develop a long-range plan for Indiana's economy.

Sen. Waltz represents Senate District 36, which includes portions of Marion and Johnson counties.

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