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This Week in Dover

5/23/2019

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by James DeChene
​
This week was the first of the Memorial Day break, and the first of the Joint Finance Committee working on marking up the FY20 budget. Good news for budget writers came in the form of DEFAC numbers on Monday, adding close to $80 million to the forecast.  Split almost evenly between the current year ($40.7 million) and next year ($38 million), this meeting continued the trend of meetings since September where an average of $40 million to the current year was brought in. This month the largest increase came from personal income tax filings. The total increases for FY19 total $200 million and nets out to an additional $160 to spend, or as the Chamber advocates, to set a large portion aside for when the economy takes a downturn.

That message was the focus of a letter sent to the members of Joint Finance this week from Chamber president Mike Quaranta that setting aside these dollars is good stewardship of public dollars. As a large part of Delaware’s revenue stream does not move with the economy, it’s important to save now while the money is coming in.

More good news in that Delaware’s unemployment rate is the lowest since 1988, and we haven’t suffered the national numbers where the unemployment numbers are down, but so is workforce participation.  A good win-win for Delaware.

And lastly, the best news of all this week, is the three-day weekend. Memorial Day, BBQs and vacation aside, is the time when we should reflect on those who gave their lives for the lifestyle we currently enjoy. The freedoms we have today certainly weren’t free to achieve, and the thousands of men and women who made the ultimate sacrifice deserve recognition in how they helped shape this great country of ours.
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Copyright Delaware State Chamber of Commerce, Inc.  All Rights Reserved.
PO Box 671 | Wilmington DE 19899
Phone: (302) 655-7221 | dscc@dscc.com | sitemap
Affiliations
U.S. Chamber of Commerce
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National Retail Federation
  • Visit
    • New Castle County
    • Kent County
    • Sussex County
    • Relocate to Delaware
    • First State Kids
  • Advocacy
    • Take Action
    • District Maps
    • Legislative Roster
    • Policy Priorities
    • Political Action Committee
    • Legislative 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
      • DSCC Daily
    • Certificates of Origin
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    • Contact
  • Events
    • Chamber Calendar
    • Annual Events >
      • Annual Dinner
      • Spring Manufacturing & Policy Conference
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      • Chamber Chase
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    • Join a Lead Group
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  • Directory