Statewide ballot measures are much more common outside Indiana than on Hoosier ballots. More than 140 such initiatives are being left to voters this fall, with significant fiscal consequences for many. The efforts include both tax increases and cutbacks:

Washington State is one of nine states without a state income tax. Bill Gates Sr., the father of the Microsoft founder, wants to change that. Gates is lending his high-profile name and influence to a ballot measure that would tax the income of individuals who earn more than $200,000 and couples who earn more than $400,000. His son — the world’s second-richest person — definitely falls into that category.

The elder Gates, who also co-chairs the Bill and Melinda Gates Foundation, says Initiative 1098 would generate $1 billion a year in new revenue dedicated to education and health care. He also says it would put an end to Washington being “the most regressively taxed state in the country.” If approved, the measure would gin up an extra $11 billion over five years by taxing 38,400 high-wage earners in Washington, while lowering certain business and occupation taxes and cutting property taxes by 20 percent. “The very future of Washington hangs in the balance,” Gates says.

Opponents of Initiative1098 contend the measure would open the door to taxing not just the rich, but residents who earn all levels of income. They also say the measure, if it passes, would eliminate a key advantage the state has to lure businesses. “Don’t Calitaxicate Washington,” they plead.

Washington is one of several states where voters this fall will weigh in on ballot measures that, if passed, would have enormous fiscal consequences. Voters in California, Colorado and Massachusetts will take up tax questions that could expand or shrink the foundations on which future budgets are built. Drama awaits on the spending side of budgets, too. In Arizona, voters could blow a $450 million hole in the state’s current budget if they reject two key measures this fall. And in Florida, voters will decide whether to save billions of dollars by relaxing limits on class sizes at schools.

In total, more than 140 statewide measures have qualified for the November ballot, according to the National Conference of State Legislatures. Stateline has compiled a guide to the most crucial ones to watch here.

I received a visit in early 2008 from Terry McWilliams, founder of a Louisville area-based investor relations firm. After conducting a successful equity/investment conference in his home state, he was looking to bring the idea to Indiana. The initial event did take place that fall at the then recently opened Lucas Oil Stadium.

Terry and a team of supporters are back in 2010 with a strong list of Hoosier companies that are going to talk about their performance and their future plans. The primary audience: analysts, fund managers and institutional investors. And, as Terry explained in a recent e-mail, the people who can benefit the most are "those with companies that plan to go public, as they can witness the investor commuications process from a front row seat."

You can check out the details of the September 9 event (at the Indianapolis Motor Speedway this time around). It’s certainly a bit of a niche audience/event, but anytime you can get the likes of the following in one place to talk about their organizations, that’s a good thing — and an insight into our immediate and longer-term economic future from some executives who are at center stage of the battle.

Big names: Eli Lilly, Cummins, Steel Dynamics, NiSource, Zimmer, Hillenbrand, Interactive Intelligence, a variety of banks and more. Michael Oxley, co-author of the Sarbanes Oxley Act, will deliver a keynote presentation.

The Supreme Court ruled earlier this year (in Citizens United vs. FEC) that company (and employee) voices were being unfairly silenced by the campaign finance rules that were in place. Democrats in Congress didn’t like what they heard so they attempted to make their way around the decision by coming up with the DISCLOSE Act. For those that care, the acronym (who has the job of coming up with these things) stands for Democracy is Strengthened by Casting Light on Spending in Elections.

Fortunately, the effort fell short of the 60 Senate votes needed to proceed. But bad ideas (in this case one of the worst ones to come down the pike in a long time, and that’s saying something in a city filled with questionable policy proposals) don’t simply go away. Indiana Chamber members communicated their displeasure the first time around.

CongressDaily reports the latest:

The DISCLOSE Act will head back to the floor for a vote when the Senate returns next month, according to spokespeople for Senate Majority Leader Harry Reid and Sen. Chuck Schumer, D-N.Y., the bill’s lead sponsor.

The measure would implement strict disclosure laws on campaign ads, require corporate leaders to appear in ads much like candidates and severely restrict foreign-owned companies and those that do business with the government. 

Senate Dems and their reform-advocate allies are targeting Sens. Scott Brown, R-Mass., Olympia Snowe, R-Maine and Susan Collins, R-Maine, all of whom voted against cloture last month. The 3 GOPers said the bill was rushed in an attempt to influence the ’10 midterms on Dems’ behalf.

Now, though, reform advocates believe they have removed that most significant objection all 3 GOPers had. If the measure is passed in late Sept. or early Oct., it would not go into effect until after the midterms.

Senate leaders have told their House counterparts that they will bring the bill up again, and that they may let GOPers block it one more time in order to score political points. But after the bill fails, reform groups and senators who back the DISCLOSE Act will try to convince potential GOP allies to join them in passing the bill so it might be implemented after the midterms.

Still, Snowe, Collins and Brown will face pressure from their leader even after it becomes clear the bill wouldn’t impact the midterms. Senate Minority Leader McConnell has been a vocal opponent of the DISCLOSE Act, labeling it a ploy to benefit Dems. McConnell has been successful in keeping his conference together on most controversial votes, making the bill’s prospects uncertain.

Dems also have to deal with Sens. Dianne Feinstein , D-Calif., and Frank Lautenberg , D-N.J., both of whom are opposed to a carve-out that exempts the NRA from certain disclosure provisions. Holman said there is an understanding that the 2 Dems would vote for cloture, getting Dems over the 60 votes required to move the bill to final passage, but then Lautenberg and Feinstein could vote against the final package. Lautenberg and Feinstein both voted for cloture when the bill first came up on July 27.

Just before heading home for its August recess, the U.S. Senate passed a $26 billion mini-stimulus that it struggled with for months. And House leadership decided to call its members back from recess to act on the legislation, which has two main components: (1) $16.1 billion to extend increased Medicaid funding for states (what is referred to as FMAP or Federal Medical Assistance Percentages); and (2) another $10 billion said to be needed to prevent teacher layoffs.

The debate involved both fiscal prudence and the perceived benefit of these state subsidies, as well as the specifics of how to pay for them. Proponents say $9 billion is to be generated from a "provision that closes corporate tax breaks on income earned overseas." Proponents think this ends an incentive to "export jobs overseas." A different – and more accurate – description would be that this is nothing more than a tax increase for businesses that happen to employ workers both in the U.S. and overseas.

The debate took its own politically charged form in Indiana this week, as efforts were made to characterize Gov. Daniels as inconsistent on the FMAP funding issue. He and 42 other governors sought the funding in a joint letter from the National Governors Association, with some qualifying statements, back in February, but Gov. Daniels has consistently pointed out the detrimental effects of the federal government continuing to spend money it doesn’t have while putting this particular legislation in that category.

The federal package would provide an estimated total of $434 million to Indiana: $227 million for six months of additional FMAP funding (an extension of provisions in the American Recovery and Reinvestment Act, aka the stimulus bill) and another $207 million under the teacher funding element. A $227 million subsidy to our state finances would be helpful as the General Assembly prepares for what all agree will be a brutal budget session in 2011. And school districts no doubt would welcome the money as they grapple with their budgets. But, the situation seems to pit practicality against principle. Regardless of your philosophy or political affiliation, the question remains: Why shouldn’t Indiana citizens and businesses who pay federal taxes receive the benefit of money that the federal government insists on distributing?

That headline is a cute way of saying "who are the recipients of venture capital?" CB Insights, a New York-based services firm for the financial industry, tried to answer that question in a recent study. You can sign up for free to get the full report, but I found this analysis from the State Science & Technology Institute provided a good overview.

 A CB Insights’ report on the "human capital" of venture-backed Internet companies finds that vast majority of company founders are white. They also tend to be between 35 and 44 years old, male and have MBAs.

When venture capitalists are asked the most important factor in choosing a company for a deal, they often say that the founder or team weighs heaviest in their decisions. CB Insights drills down into this human element by providing data on the founders of Internet companies that received venture capital in the first half of 2010. The study includes data on race, age and experience, the number of founders per company, gender and the educational background/pedigree of the founders. It also provides specific data on deals in California, Massachusetts and New York.

Within the 165 deals tracked in the study, 87 percent of early stage, venture-backed Internet startup founders were white, with 83 percent of entire founding teams being all white. Only 77 percent of the general U.S. population is white. Asian founders represented 12 percent of founders, while making up 4 percent of the U.S. population. The percentage of Asian founders was larger in California, and their companies tended to receive larger investments. Black founders accounted for only 1 percent of company founders, while Native Americans and "other" represented less than one percent.

The founders in the study were overwhelmingly male. Across the country, 92 percent of founders were male and 86 percent of teams were all male. Massachusetts had the highest percentage of female founders with 27 percent. All-male and all-female teams received similar levels of funding, but mixed teams received substantially more.

Almost half of the founding teams had average ages between 35 and 44. Teams in the 26-34 age range, however, tended to receive more capital. Massachusetts favored somewhat older teams, New York favored younger teams, and California teams fell in the middle. Nationally, 51 percent of founders hold a Master’s or PhD, but two-thirds of all teams had at least one person with an advanced degree. In New York, founders with only an undergraduate degree actually tended to raise more capital. Cornell, Stanford and Harvard produced the most founders with undergraduate degrees. Harvard, Stanford and MIT’s graduate programs generated the most founders with advanced degrees. About 37 percent of companies had one founder, 40 percent had two, 19 percent had three, and 4 percent had four partners.

While providing an interesting snapshot of the founders who received funding in the first half of 2010, there are limits on the conclusions that can be drawn from the CB Insights report. It focuses exclusively on venture-backed Internet companies, and, since it is the first in a series of reports, no trend data is yet available. Also, without data on who is seeking for venture funding, the report does not reveal much about the preferences of venture firms. It is clear, however, that the population of venture-backed founders included in the study does not reflect the diversity of the U.S. population.

When federal government spending is involved, there is almost certain to be some questionable uses. According to a report from senators John McCain and Tom Coburn, there are more than a few such examples in the $862 billion stimulus plan.

The following and more are included in their report:

• Nearly $2 million to photograph ants
• More than $550,000 to replace windows in a closed visitors center
• Replacing a 5-year-old sidewalk with a new sidewalk that leads to a ditch

You get the idea. Sure, there is some politics involved here. But the examples of misappropriated or mismanaged funds do speak loudly. Remember, it’s all about jobs — or at least it is supposed to be.

Here’s the report, Summertime Blues (for taxpayers).

Quirky Congressional calendars and policy stalemates are nothing new in Washington. For those of that mindset, it appears the rest of 2010 won’t be too upsetting. And with some of the damage Congress has inflicted on businesses of all sizes and their employees over the last few years, maybe that isn’t all bad.

In the House (which doesn’t return until Tuesday), it’s less than three weeks until the August break (starting a week earlier than normal). House members will not be back in Washington until mid-September, with a targeted adjournment date of October 8 in order to hit the campaign trail fulltime in the weeks leading up to the November 2 election. Are we looking at a lame-duck session in November or December — or no action on major items until 2011?

For the Senate, the legislative backlog includes:

• Seeking two votes (Scott Brown and Olympia Snowe are the top targets) to move the financial regulatory reform conference report
• A lending pool/tax incentives increase for small businesses, which was originally seen as an opportunity to address other financial issues — including the expiring Bush tax cuts from 2001 and 2003
• A $75 billion war supplemental that faces a White House veto over issues unrelated to the original intent. The House added $16 billion, including $10 billion to local school districts to help avoid teacher layoffs. Part of the offsets feature recissions in education programs (among them Race to the Top); hence, the White House opposition

CongressDaily reports the following on that bill:

Senate Appropriations Chairman Daniel Inouye did not include funding for teachers in the measure the Senate approved in May because it was unclear if there was enough support to pass the bill. 

Supporters of the teacher funding will also have to overcome opposition from a group of 13 Democratic senators led by Sen. Evan Bayh, D-Ind., who called the proposed cuts to education programs "unacceptable" in a letter to Inouye earlier this month.

"Choosing between preserving teacher jobs and supporting vital education reforms is a false choice and would set a dangerous precedent," the letter said.

Or school districts could utilize any number of other cost reduction methods instead of simply cutting teachers. If only that suggestion would become part of the common practice.