The Race
Senate District 43 covers the southeastern corner of Indiana: all of Dearborn, Jefferson, Ohio, Scott, and Switzerland counties, plus southern Jennings County. It is one of the most reliably Republican districts in the state. Chip Perfect ran unopposed in both 2018 and 2022. The last time a Democrat even appeared on the SD-43 ballot was 2014, when Perfect defeated Rudy Howard 71.7% to 28.3%. [1]
The seat opened unexpectedly in September 2023, when Perfect -- CEO of Perfect North Slopes, the ski resort in Lawrenceburg -- resigned mid-term, citing family and business obligations. He had been re-elected less than a year earlier. A Republican caucus selected his replacement: Randy Maxwell won 56 of 80 precinct committee votes, defeating Sam Mortenson (17 votes) and Joe Volk (7 votes). [2]
Maxwell was sworn in on September 28, 2023, by Chief Justice Loretta Rush. He is now the incumbent seeking his first full elected term. The May 5, 2026 Republican primary is the only competitive election this district will see. [3]
Republican Primary
Randy Maxwell (Incumbent, Trump-endorsed)
Maxwell is a lifelong southeastern Indiana resident who grew up in Logan, played football at East Central High School and then at Indiana University (1995-1999), and graduated from IU's Kelley School of Business with degrees in Finance, Real Estate, and Entrepreneurship. He has been CEO of Maxwell Construction -- a family-owned general contracting and development firm founded by his father John L. Maxwell in 1988 -- since 1999. [3] [4]
His civic footprint in the region is deep: former president of the Dearborn County Home Builders Association, vice president and founding member of the 1Dearborn Economic Development Organization, board member of the Southeast Indiana YMCA and YoungLife in Dearborn County, former finance council president of All Saints Catholic Parish, and a two-decade youth sports coach. Governor Mitch Daniels appointed him to the Indiana Unemployment Insurance Board in 2007. [4]
In the Senate, Maxwell serves on the Homeland Security and Transportation, Pensions and Labor, Public Policy, and Veteran Affairs and The Military committees. He achieved a 100% voting record during the 2026 legislative session, never missing a floor vote. [4] [5]
The redistricting connection. Maxwell voted in favor of HB 1032, the Trump-backed congressional redistricting bill, on its final Senate vote on December 11, 2025. The bill failed 31-19, with 21 of 40 Republican senators voting against it. Maxwell was among the 19 who supported it. [6]
This is the key to understanding the Trump endorsement. On March 24, 2026, Trump endorsed Maxwell on Truth Social, calling him "a Tremendous Champion for the incredible people of Indiana's 43rd State Senate District" and praising him as "a very successful Businessman" who "knows the America First Policies required to Grow our Economy, Create GREAT Jobs, Cut Taxes and Regulations." Trump gave Maxwell his "Complete and Total Endorsement for Re-Election." [7]
Maxwell was one of eleven incumbent Republican senators Trump endorsed, all of whom voted in favor of redistricting. The endorsement batch also included six challengers to incumbent Republican senators who had voted against redistricting. The pattern is clear: the endorsements reward loyalty to the redistricting push and punish dissent. [8]
Unlike the six "revenge" races where Trump endorsed challengers to incumbent dissenters (SD-12, SD-19, SD-21, SD-23, SD-24, SD-36), SD-43 falls into the second category: a reward race. Maxwell backed Trump's redistricting play, so Trump backed Maxwell's re-election. The endorsement is defensive rather than offensive -- protecting an ally rather than attacking an enemy.
Joe Volk
Volk is a farmer and small-business owner from Dearborn County. This is his second attempt at the SD-43 seat. In the September 2023 caucus to replace Chip Perfect, Volk finished last with 7 of 80 votes, behind Maxwell (56) and Sam Mortenson (17). [2]
During his 2023 caucus bid, Volk emphasized the absence of farmers in the Indiana Senate, writing: "In the recent past, one Hoosier senator was a farm operator/owner -- now there are none. Indiana needs another. I can bring to the table a wealth of knowledge regarding better crops, protecting our farm and wild land and farming operations." He described himself as having "a reputation as being candid, honest and a hard worker." [9]
Volk has no significant web presence, no visible campaign fundraising, no endorsements on the public record, and no media coverage of his 2026 candidacy beyond his name appearing on filing lists. His candidacy appears to be a grassroots, low-budget effort by a local farmer who believes the district needs agricultural representation -- the same argument he made in 2023, and one that attracted the same constituency then: a small but committed slice of rural voters who see their livelihood underrepresented in Indianapolis.
Against a Trump-endorsed incumbent with a construction company, deep civic ties, a 100% voting record, and a caucus margin of 56-7, Volk faces long odds.
General Election (Holland)
Byron Holland (D) is the sole Democratic candidate for SD-43. No public information is available about his background, platform, or campaign organization. He has no visible web presence, no media coverage, and no campaign finance filings on the public record.
In a district where Republicans have run unopposed in the last two general elections, and where the only contested general election in the last sixteen years produced a 71.7%-28.3% Republican margin, the general election is not expected to be competitive. Holland's candidacy ensures voters have a choice on the November ballot, but the practical outcome of SD-43 will be decided in the Republican primary. [1]
Why It Matters
SD-43 is not a competitive race. It is analytically interesting for one reason: it illustrates the reward side of Trump's Indiana endorsement campaign.
The six "revenge" primaries -- where Trump backed challengers to senators who voted against redistricting -- draw most of the attention. But the eleven incumbent endorsements, issued in the same March 24-25 batch, are equally important for understanding how the operation works. Trump is not merely punishing dissenters; he is constructing a loyalty network. Every senator who backed his redistricting push received a presidential endorsement in return.
For Maxwell specifically, the endorsement transforms a sleepy re-election campaign against a minimally funded challenger into a data point in a statewide narrative about presidential power over state legislatures. Maxwell voted the way Trump wanted on HB 1032. Five weeks before the primary, Trump publicly rewarded that vote.
The practical effect is probably marginal -- Maxwell would almost certainly win re-election without the endorsement. But the signal matters. It tells every Republican state legislator in Indiana (and beyond) that loyalty to Trump on redistricting is rewarded, while opposition is punished. The carrot-and-stick mechanism only works if both halves are visible. SD-43 is part of the carrot.