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John Carney on Tax Reform

 

 


Share sacrifice of budget cuts and tax hikes

Business as usual has to change. If we are going to tackle the tough issues that confront us, we need to get our financial house in order. We need a budget reset--a new plan to set us on stronger financial footing and make our state more competitive. A long-term solution to a nearly $400 million budget deficit.

I've proposed an operating budget that grows government spending less than 3/10 of 1%. It contains a 50-50 mix of spending cuts & new revenue. It's built on the principle of shared sacrifice.

Our north star in building this budget was making Delaware more competitive. While we went line by line, deciding which programs to cut and which to preserve, which taxes to raise and which to leave untouched, we asked ourselves the same question over and over again: "How will this decision impact our ability to grow our economy and compete?"

It would be easy to get lost in the doom and gloom of budget cuts and tax hikes. There is something in our budget for everyone not to like.

Source: 2017 Delaware State of the State address , Mar 30, 2017

Raising estate tax to 1990s level means $448B in new revenue.

Carney voted NAY Death Tax Repeal Act

Heritage Action Summary: This bill would repeal the estate and generation-skipping transfer taxes, as well as cut the top gift tax rate.

Heritage Foundation recommendation to vote YES: (4/16/2015): Collectively, these measures repeal the pernicious double tax known as the "death tax," and result in a tax cut of $269 billion over 10 years. The death tax hurts economic growth and therefore limits the ability of Americans to prosper. Repealing the death tax would generate an average of 18,000 jobs annually and increase the overall net worth of American households by $300 billion a year. The federal government should encourage, not punish, Americans who work and pay taxes their whole lives, save enough to support themselves through retirement, and retain the ability to fulfill the American Dream by passing along a better life to their children.

Secretary of Labor Robert Reich recommendation to vote YES: (robertreich.org 6/4/2015): At a time of historic economic inequality, it should be a no-brainer to raise a tax on inherited wealth for the very rich. Yet there's a move among some members of Congress to abolish it altogether. Today the estate tax reaches only the richest 2/10 of 1%, and applies only to dollars in excess of $10.86 million for married couples or $5.43 million for individuals. That means if a couple leaves to their heirs $10,860,001, they now pay the estate tax on $1. The current estate tax rate is 40%, so that would be 40 cents. Yet according to these members of Congress, that's still too much. Our democracy's Founding Fathers did not want a privileged aristocracy. Yet that's the direction we're going in. The tax on inherited wealth is one of the major bulwarks against it. That tax should be increased and strengthened.

Legislative outcome: Passed by the House 240-179-12; never came to vote in Senate.

Source: Congressional vote 15-H1105 on Apr 16, 2015

Other governors on Tax Reform: John Carney on other issues:
DE Gubernatorial:
Colin Bonini
David Lamar Williams
Julianne Murray
DE Senatorial:
Chris Coons
Chuck Boyce
Gene Truono
James DeMartino
Jessica Scarane
Lauren Witzke
Rob Arlett
Tom Carper
Gubernatorial Debates 2021:
NJ: Incumbent Phil Murphy(D)
vs.State Rep. Jack Ciattarelli(R)
vs.Candidate Hirsh Singh(R)
VA: Incumbent Ralph Northam(D,term-limited)
vs.A.G. Mark Herring(D)
vs.State Sen. Amanda Chase(R)
vs.Lt. Gov. Justin Fairfax(D)
vs.State Rep. Jennifer Carroll Foy(D)
vs.State Rep. Lee Carter(D)
vs.Former Governor Terry McAuliffe(D)
vs.State Sen. Jennifer McClellan(D)
vs.State Rep. Kirk Cox(R)

Gubernatorial Debates 2022:
AK: Incumbent Mike Dunleavy(R)
(no prospective opponents yet)
AL: Incumbent Kay Ivey(R)
(no prospective opponents yet)
AR: Incumbent Asa Hutchinson(R,term-limited)
vs.Lt. Gov. Tim Griffin(R)
vs.Trump Adviser Sarah Huckabee Sanders(R)
vs.A.G. Leslie Rutledge(R)
AZ: Incumbent Doug Ducey(R,term-limited)
(no prospective opponents yet)
CA: Incumbent Gavin Newsom(D)
(no prospective opponents yet)
CO: Incumbent Jared Polis(D)
(no prospective opponents yet)
CT: Incumbent Ned Lamont(D)
(no prospective opponents yet)
FL: Incumbent Ron DeSantis(R)
vs.U.S.Rep. Val Demings(? D)
vs.Former Gov.Charlie Crist(? D)
GA: Incumbent Brian Kemp(R)
vs.Minority Leader Stacey Abrams(D)
vs.Senate candidate Shane Hazel(L)
HI: Incumbent David Ige(D,term-limited)
vs.State Rep. Andria Tupola(R)
IA: Incumbent Kim Reynolds(R)
vs.U.S.Rep. Cindy Axne(? R)
ID: Incumbent Brad Little(R)
(no prospective opponents yet)
IL: Incumbent J. B. Pritzker(D)
(no prospective opponents yet)
KS: Incumbent Laura Kelly(D)
(no prospective opponents yet)
MA: Incumbent Charlie Baker(R)
vs.Harvard Professor Danielle Allen(D)
MD: Incumbent Larry Hogan(R,term-limited)
vs.State Rep. Robin Ficker(R)
vs.State Rep. Peter Franchot(D)
Gubernatorial Debates 2022 (continued):
ME: Incumbent Janet Mills(D)
vs.Former Gov. Paul LePage(R)
MI: Incumbent Gretchen Whitmer(D)
(no prospective opponents yet)
MN: Incumbent Tim Walz(DFL)
(no prospective opponents yet)
NE: Incumbent Pete Ricketts(R,term-limited)
vs.U.S.Senator Bob Krist(R)
NH: Incumbent Chris Sununu(R)
(no prospective opponents yet)
NM: Incumbent Michelle Lujan Grisham(D)
(no prospective opponents yet)
NV: Incumbent Steve Sisolak(D)
(no prospective opponents yet)
NY: Incumbent Andrew Cuomo(D)
(no prospective opponents yet)
OH: Incumbent Mike DeWine(R)
vs.Dayton Mayor Nan Whaley(? D)
OK: Incumbent Kevin Stitt(R)
vs.State Sen. Ervin Yen(R)
OR: Incumbent Kate Brown(D,term-limited)
vs.Gov. nominee Bud Pierce(R)
PA: Incumbent Tom Wolf(D,term-limited)
(no prospective opponents yet)
RI: Incumbent Gina Raimondo(D,term-limited)
(no prospective opponents yet)
SC: Incumbent Henry McMaster(R)
vs.State Rep. James Emerson Smith(? D)
SD: Incumbent Kristi Noem(R)
vs.State Rep. Billie Sutton(? D)
TN: Incumbent Bill Lee(R)
vs.Senate nominee Marquita Bradshaw(? D)
TX: Incumbent Greg Abbott(R)
vs.U.S.Rep. Allen West(? R)
VT: Incumbent Phil Scott(R)
(no prospective opponents yet)
WI: Incumbent Tony Evers(D)
(no prospective opponents yet)
WY: Incumbent Mark Gordon(R)
vs.Minority Leader Chris Rothfuss(D)

Gubernatorial Debates 2023:
KY: Incumbent Andy Beshear(D)
vs.Former Gov. Matt Bevin(? R)
Senator Rand Paul(? R)
LA: Incumbent John Bel Edwards(D,term-limited)
vs.Biden Adviser Cedric Richmond(? D)
vs.Senator John Neely Kennedy(? R)
MS: Incumbent Tate Reeves(R)
(no prospective opponents yet)
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Page last updated: Feb 10, 2021