It will be a very happy new year, at least financially, for Indiana's six statewide elected officials.
Significant pay hikes put in the 2023 state budget by the Republican-controlled General Assembly and Republican Gov. Eric Holcomb finally take effect Jan. 1 for the lieutenant governor, state comptroller, state treasurer, secretary of state and attorney general, and Jan. 13 for the new governor.
As a result, Republican Gov.-elect Mike Braun will receive a 2025 salary of $221,024 — equal to the salaries paid to each of the five justices of the Indiana Supreme Court, according to the state comptroller's office.
That is a 65% increase compared to the $133,683.94 earned annually by Holcomb during his second and final term as Indiana's chief executive, as well as 27% more than the $174,000 Braun made in each of the past six years representing Hoosiers in the U.S. Senate.
Holcomb said two years ago he had no qualms about signing the eye-popping pay raises into law because the need to increase wages for Indiana's elected officials was recognized even two decades ago when Holcomb was a top aide to Republican Gov. Mitch Daniels.
"It's been talked about for years, long before I was in this office. Or on this side of the desk, I should say," Holcomb said in 2023. "I remember discussions. It crops into conversations, I bet you, every session. This particular session, when asked, I stated that I understand for others, but when I ran for this office I knew what the salary was, so I didn't support it for myself.
"I was very pleased that the (legislative) leaders took that to heart and started it after (my term). And that gives everyone who seeks to run for office in the future, they'll know what the new salary will be."
Under the statute, the new salary for the lieutenant governor will be 88% of a Supreme Court justice, or $194,501.12 a year. The attorney general will earn 83% of what a Supreme Court justice makes, or $183,449.92.
Currently, Republican Lt. Gov. Suzanne Crouch is paid $116,987, making the 2025 salary of Republican Lt. Gov.-elect Micah Beckwith a 66% increase.
Republican Attorney General Todd Rokita, who was elected to a second term at the Nov. 5 general election, will see his paycheck grow 50% next year from the $122,183.88 he made this year.
Likewise, the three Republican state officeholders elected to four-year terms in 2022, or appointed thereafter — Comptroller Elise Nieshalla, Treasurer Daniel Elliott and Secretary of State Diego Morales — will enjoy a big pay hike in the new year.
Each will earn 66% of the salary of the Supreme Court justice, or $145,875.84, compared to their current annual pay of $101,593.96 — a 44% increase.
Left unchanged, however, for the 15th consecutive year, is Indiana's minimum wage of $7.25 an hour — the lowest rate permitted by federal law.
Adjusted for inflation, the current value of Indiana's minimum wage is equivalent to $5.01 an hour compared to 2010 when the rate last was increased.
Meanwhile, the minimum wage in Illinois will rise again by $1 an hour, to $15 per hour, on the first day of the new year.
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