We need to prioritize how we spend money. If we keep cutting a little bit everywhere, we’re doing a disservice to the citizens of the State. We need to make the tough decisions and choose how we spend and where we spend.
As a state, we will continue to struggle to balance our budget until we can make Delaware a destination for businesses and families.
We need to think about new revenue sources. It’s unsustainable to rely on dwindling revenue from casinos or unclaimed property. We need to look at innovative models around the country. Traditionally, states make money off of income, sales and other taxes. Right now, we have no sales tax, but we put that burden on the business community through a gross-receipts tax. This goes back to our innovation model. Our revenue model does not incentive business to be here. If we looked at the big picture, we could model our gross receipts around our innovation districts. This would make sure we are helping build businesses and put gross receipt exemptions in place to protect the research and development zones.
We need leaders who understand not only the connectivity of fiscal health to a strong state economy and quality education but also the importance of policy and partnerships to affect positive change in Delaware.