June 17, 2019

State Chamber Update

With seven days left in legislative session this year, we are cautiously optimistic that priority bills for the Chamber and the business community will not be worked on this year. Both the minimum wage and marijuana legalization bills are currently in Senate Finance Committee and House Appropriations Committee, respectively, where they will remain until January. Over the next months it will remain important for the Chamber community to continue telling the story of how these bills will impact businesses and nonprofits, as we expect the General Assembly to pick up where they left off when they return. Therefore, we need more of you to connect with members of the General Assembly who represent your business. Sharing your views of these issues during a visit to your place of business can be extremely impactful. Please don't hesitate to contact us for assistance in scheduling a meeting with your legislator.

News You Can Use

DEFAC will meet this Wednesday to deliver the final revenue forecast for the to-be-passed budget. Most of the budget writing work is done, and the main impact of this week’s report will be on how much money will be sent to bond bill and grant-in-aid.

Economic data this week includes the release of housing starts and building permits for the month of May on Tuesday. On Wednesday, Fed Chairman Jerome Powell will host a press conference, and on Friday we’ll see existing home sales figures for May. It is also interesting to note that storms have left millions of acres unseeded in the $51 billion U.S. corn market and put crops that were planted late at a greater risk for damage from severe weather during the growing season. Together, the problems heap more pain on a farm sector that has suffered from years of low crop prices and a U.S.–China trade war that is slowing agricultural exports.

Michael J. Quaranta

President

Delaware State Chamber of Commerce

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We'll be there for an evening mixer on September 3, ahead of our annual Chamber Chase golf tournament. Click here to register.