Tag: Dusty Rhodes
Delaware General Assembly Post-Game Wrap-Up & Pre-Game Show: Tues., June 16, 2015
Miracle of miracles. The Delaware Economic and Financial Advisory Council DEFAC), which provides the official estimate of state revenues, has upped its revenue projection by $33 mill, which makes balancing the FY ’16 budget easier. Funny how often that happens. Some claim that it’s BS, or DEFACating. But, it’s OFFICIAL BS. This comes as some of Delaware’s most progressive legislators propose higher income brackets for Delaware’s wealthiest. Now, here’s the problem. The budget deficit for the following fiscal year is projected to be steep. Next year also just happens to be an election year. If the General Assembly is going to pass a more equitable income tax bill and create more revenue, it will have to be this year, not next year. Will the General Assembly finally restore some equity to the tax code, or will it wait and find itself in an almost impossible fiscal position next year? As usual, what I think will happen and what I hope will happen are the diametric opposites of each other. An increase in taxes on the wealthy provides a sustainable stream of revenue. Using one-times and combining them with rosy DEFAC projections simply kicks the can down the road. In this case, the road does not go on forever. Act now. Because it ain’t happenin’ in an Election Year.
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