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Roundtable Supports Constitutional Amendment Limiting Annual Spending Growth

The Delaware Business Roundtable strongly agrees with Gov. John Carney and state Treasurer Ken Simpler that there needs to be a bipartisan, permanent approach to smoothing out the highs and lows of state revenues from year to year. The state has experienced a revenue windfall due to increases in corporate franchise tax and corporate income tax, two of the most highly volatile sources of state revenue. This revenue is not expected to continue in future years. As a result, the General Assembly has a perfect opportunity to approve a constitutional amendment limiting annual spending growth based on key economic indicators. While it may be tempting to use the new, temporary revenues for pet pro

General Assembly Must Remain Focused on Long-Term Growth and Spending Restraint

The Delaware Business Roundtable issued the following statement regarding the General Assembly's budget deliberations amid an unexpected increase in available revenue, as detailed in this News Journal story: Despite improved revenue forecasts for the coming year, it would be irresponsible for the General Assembly to add permanent – and unsustainable – state spending on top of a shaky fiscal foundation. Delaware’s overall fiscal picture is clouded by unreliable and unpredictable revenue sources and ever-ballooning health, education and public employee expenses – and adding permanent new spending is a recipe for short-term political gains and long-term financial ruin. State lawmakers must rema

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Delaware Business Roundtable

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