The Stimulus Sugar HIGH By  Dr. John Stapleford Center for Economic Policy and Analysis December 28, 2020 In response to COVID-19, the Federal government enacted the Pandemic Emergency Unemployment Compensation program of the CARES Act. This provided an additional $600 Federal stimulus funds automatically to weekly unemployment benefits received between March 29 and July 25, 2020. As expected, Delawareans acted rationally and left the unemployment rolls when the extra $600 a

DE's Dependence on Federal Transfer Payments Growing By  Dr. John Stapleford Center for Economic Policy and Analysis December 23, 2020 A major component of Delaware's personal income is transfer payments, and the importance of transfer payments in Delaware is growing.   According to the U.S. Bureau of Economic Analysis, transfer payments have gone from accounting for 18% up to 21% of Delaware's personal income (17% today throughout the U.S.) over the last ten years. SEE CHART

Paycheck Protection Program worked for Delaware By  Dr. John Stapleford Center for Economic Policy and Analysis December 11, 2020 Delaware's economy received a substantial boost from the Small Business Administration's Paycheck Protection Program. Over 39% of Delaware’s businesses and nonprofits applied for the PPP loans. This impacted one-third of Delaware’s jobs.   The Paycheck Protection Program (PPP) was a counter-cycle success in Delaware and a very worthwhile use of pub

Delaware Economic Update 2020 Q3 Economy coming back but slowly   By  Dr. John Stapleford Date: 12/9/2020 OUTLOOK According to the forecasters’ survey of the Philadelphia Federal Reserve, Delaware's RGP will grow 19.1% in 2020 Q3 and 5.8% in 2020 Q4, for a 2020 average of -5.2%. The year 2021 is expected to register an average growth rate of around 3.5%. Having weathered the downsizing of its chemical industry,  Delaware's RGP is expected to track with the nation, but with mo

Wall Street Journal exposé challenges Bloom Energy, stock fall 11% By David T. Stevenson Center for Energy & Environmental Policy December 9, 2020 Yesterday, The Wall Street Journal (WSJ) released an  exposé  on Bloom Energy, Inc. (Bloom). The critical report discusses how Bloom has lost its green energy edge. More people discover its actual carbon dioxide emissions roughly match the "regional grid."    For example, Delmarva Power's Red Lion location has "Bloom" servers that

Location driven by income tax rates By  Dr. John Stapleford Center for Economic Policy and Analysis December 1, 2020 Delaware is projected to collect $1.7 billion of personal income tax revenue in FY 21.   Research evidences that, over time, states with an income tax lose population to states without an income tax. Many retirees choose Florida, Texas, and Nevada precisely because there is no income tax. According to DEFAC, Delaware is facing two fiscal years of flat General F