The policy priority

Delaware State Chamber of Commerce | Wilmington DE 19899
  • Visit
    • New Castle County
    • Kent County
    • Sussex County
    • Relocate to Delaware
    • First State Kids
  • Advocacy
    • Take Action
    • District Maps
    • Competitiveness Bluebook
    • Legislative Roster
    • Policy Priorities
    • Political Action Committee
    • Policy Priority Blog
  • About Us
    • Governance
    • Our Team
    • Affiliates >
      • Delaware Manufacturing Association
      • Delaware Retail Council
      • The Partnership, Inc. >
        • Delaware Principal for a Day
        • Superstars in Education >
          • JHTAward
          • SSE Winners Archive
        • Intern Delaware
        • Delaware Young Professionals Network
    • Committees >
      • Small Business Alliance
    • News & Media >
      • Chamber News
      • Member News
      • Delaware Business Magazine
      • Podcast
      • Advertise with the Chamber
    • Certificates of Origin
    • Internships
  • Events
    • Events Calendar
    • Annual Events >
      • Annual Dinner
      • Spring Manufacturing & Policy Conference
      • Navigating Delaware Pathways
      • End-of-Session Policy Conference
      • Chamber Chase
      • Developing Delaware
      • Superstars in Business
      • Taste of Delaware
    • Webinars
    • Member Events
  • Membership
    • Why the State Chamber
    • Inquire About Membership
    • Member Login
  • Directory

DSCC Tax committee update

2/25/2021

0 Comments

 
By Tyler Micik

The Tax Committee met earlier this week and discussed several key issues and policy proposals that will not only impact the business community but all Delawareans. Three particular issues discussed were a minimum wage increase, personal income tax, and Secure Choice.

There has been increased talks to raise Delaware’s minimum wage to $10.50 in 2022, with yearly increases reaching $15 by 2025. The reality of this proposal is that it may in fact hurt the people its intended to help. Many businesses, especially small business, have been disproportionately impacted by the pandemic and are still struggling to survive or recover. An increase in the minimum wage could cause some employers to lay off employees and, in some cases, close their doors permanently. A proposal to increase the minimum wage would be more palatable to some business owners when Delaware’s unemployment rate reaches a more reasonable rate such as 3.6% versus the current rate of 5.3%.

HB64 would create new personal income tax brackets for high earners, starting at 7.1% for those making $125,000 and topping out at 8.6% for those earning $500,000. The State Chamber's tax committee believes this bill would put Delaware at a competitive disadvantage when it comes to attracting new business and residents from surrounding states. Delaware is not facing a budget crisis, which would justify such an increase. Moreover, this bill comes at a time when Delaware businesses and employees face unprecedented uncertainty due to the COVID-19 pandemic.

Secure Choice is a proposal by State Treasurer Colleen Davis that would create a State-run IRA program. The plan is projected to cost approximately $400,000 to implement. According to the Treasurer, the program would be designed for any employer that doesn’t already offer their employees a retirement plan and employers who offer a preexisting plan would be exempt from participating. Employees would have thirty days from their date of hire to either enroll or opt out of the plan. The plan would follow the employee if they relocated or changed jobs.

The Chamber is looking for feedback from members on how any of these proposals may impact your company or employees. Please direct feedback to Tyler Micik at [email protected].
0 Comments

Your comment will be posted after it is approved.


Leave a Reply.

    Archives

    May 2025
    April 2025
    March 2025
    January 2025
    November 2024
    October 2024
    September 2024
    August 2024
    July 2024
    June 2024
    May 2024
    April 2024
    March 2024
    January 2024
    July 2023
    June 2023
    May 2023
    April 2023
    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    December 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    April 2020
    March 2020
    January 2020
    December 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    May 2015
    April 2015

    Categories

    All
    Abandoned Property
    Advocacy
    Agriculture
    Alcohol
    Amazon
    Annual Government Affairs Retreat
    Annual Networking Table Top
    Budget
    Business
    Capital Improvement
    Capital Spending
    Child Care
    Coastal Zone
    Construction And Real Estate
    Criminal Justice
    Data
    Delaware Business
    Delaware Business Roundtable
    Delaware Manufacturing Association
    Delaware Prosperity Partnership
    Developing Delaware
    Diverse Suppliers
    Economic Development
    Education
    Elections
    End Of Session Legislative Brunch
    Energy
    Envionrment
    Equal Rights
    Escheat
    Federal Energy Regulatory Commission
    Fiscal Policy
    Flame Retardants
    Global Delaware
    Government Affairs
    Grant In Aid
    Guest Post
    Gun Legislation
    Healthcare
    Identity Theft
    Infrastructure
    Insurance
    Kent County
    Labor
    Legislative Brunch And Manufacturing Conference
    Legislative Report
    Manufacturing
    Manufacturing Week
    Marijuana
    Marvin S. Gilman Bowl
    Member News
    Memorial Day
    Military Affairs
    Minimum Wage
    National Manufacturing Day
    Natural Resources And Environmental Control
    Networking
    New Economy
    Nonprofit
    Opioid And Substance Abuse
    Opioids Drugs And Alcohol In The Workplace
    Paid Leave
    Pathways To Prosperity
    Plastic Bags
    Regulation
    Renewable Energy
    Rodel
    Secretary Of State
    Sexual Harassment
    Small Business
    Small Business Alliance
    Small Business Day
    State Chamber's Annual Dinner
    Student Success 2025
    Superstars In Business
    Superstars In Education
    Sussex County
    Taste Of Delaware
    Tax
    Technology
    The Guard And Reserve Banquet
    Tobacco
    Trade
    Trade Promotion Authority
    Transportation
    Unclaimed Property
    Unemployment
    Utilities
    Vision Coaltion
    Workforce Development

    RSS Feed

Copyright Delaware State Chamber of Commerce, Inc.  
​All Rights Reserved.


PO Box 671 | Wilmington DE 19899
(302) 655-7221 | [email protected] | sitemap
Affiliations
U.S. Chamber of Commerce
National Association of State Chambers
​National Association of Manufacturers
National Retail Federation
  • Visit
    • New Castle County
    • Kent County
    • Sussex County
    • Relocate to Delaware
    • First State Kids
  • Advocacy
    • Take Action
    • District Maps
    • Competitiveness Bluebook
    • Legislative Roster
    • Policy Priorities
    • Political Action Committee
    • Policy Priority Blog
  • About Us
    • Governance
    • Our Team
    • Affiliates >
      • Delaware Manufacturing Association
      • Delaware Retail Council
      • The Partnership, Inc. >
        • Delaware Principal for a Day
        • Superstars in Education >
          • JHTAward
          • SSE Winners Archive
        • Intern Delaware
        • Delaware Young Professionals Network
    • Committees >
      • Small Business Alliance
    • News & Media >
      • Chamber News
      • Member News
      • Delaware Business Magazine
      • Podcast
      • Advertise with the Chamber
    • Certificates of Origin
    • Internships
  • Events
    • Events Calendar
    • Annual Events >
      • Annual Dinner
      • Spring Manufacturing & Policy Conference
      • Navigating Delaware Pathways
      • End-of-Session Policy Conference
      • Chamber Chase
      • Developing Delaware
      • Superstars in Business
      • Taste of Delaware
    • Webinars
    • Member Events
  • Membership
    • Why the State Chamber
    • Inquire About Membership
    • Member Login
  • Directory