SMART FISCAL POLICY PAYS DIVIDENDS
STATE FINANCES IN THE CARNEY ADMINISTRATION'S FINAL YEAR
As Governor Carney assembles his eighth budget proposal, Delaware’s financial condition is markedly better than when he took office. In January 2017, he faced a $400 million projected budget deficit. In 10 of the previous 17 years, the State ended its fiscal year with an operating cash deficit. Annual expenditures repeatedly outstripped revenues, placing regular pressure on policymakers to reduce budgets and raise taxes.
Since 2018, the Governor and General Assembly have partnered to stabilize State finances, benchmark operating budget growth at economically sustainable levels, create accessible reserves to help weather future downturns, and steer “extraordinary” revenue to one-time expenditures. Read more >
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