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Delaware's new tax brackets: you moving or staying?
By Dr. John Stapleford
Center for Analysis of Delaware's Economy & Government Spending
February 23, 2021
Pending House Bill 64 (HB 64)proposes graduated increases in the top personal income tax rate, starting with 7.1% at household income of $125,000 and topping out at a rate of 8.6% at an income of $500,000 or more.
We provide five reasons why this is an ill-timed, unnecessary, and bad idea:
Delaware's economy delivered no growth in the past ten years and is
Delaware Beware: Likely Causes of Texas Electric Grid Blackouts By David T. Stevenson Center for Energy & Environmental Policy February 17, 2021 (photo source: Washington Post Video) Besides Texas, blackouts occurred last year in California, Europe, and Japan, all with wind and solar power making up about 25% of their electric grids. Delaware just increased its wind and solar mandate from 25% to 40%, and discussions are being held to go to 50%. Beware following this path. A full explanation of the Texas blackouts will likely await an investigation by the Electric Reliability Council of Texas&...[read more]
Will Governor Carney's 2021 Budget finally bring an end to Delaware's failing economy? By Charlie Copeland Center for Analysis of Delaware's Economy & Government Spending January 31, 2021 A growing economy matters for myriad reasons and, according to the St. Louis Federal Reserve Bank, Delaware's GDP has not grown for a decade. During this same period, Delaware's worker productivity has seen a 6% decline. Thanks to better public schools, lower personal and business taxes, our neighboring states have been eating our lunch and stealing jobs and workers from Delaware for years. With this backdrop, the Governo...[read more]
Delaware's Clean Energy Future As long as you are moving the goalposts for percent renewable energy let’s do it right By Dave Stevenson Center for Energy and Environmental Policy January 11, 2021 (last updated 1/14/2021) The best way to lower carbon dioxide emissions is to let the free market work. US emissions fell 14.4% from 2005 to 2019 primarily by shifting from higher cost, higher emitting coal to lower cost, lower-emitting nat...[read more]
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 week ceased. Between July and November of 2020, the Delaware labor force (those adults working or actively looking for work) dropped 6% while the total Delawareans...[read more]