John Carney on Budget & Economy

	John Carney on Budget & Economy

Delaware can't compete if we don't have our budget in order

Despite our efforts, we did not pass legislation to permanently control operating spending at sustainable levels. An earlier General Assembly rejected my proposed Constitutional amendment that would have done just that. It's really pretty simple. Delaware can't compete in the future if we don't have our budget in order. Right now, a future General Assembly, or a Governor, could lead us down a path of uncontrolled spending. That would lead to higher taxes, and painful cuts. Let's not go backwards. Source: 2024 State of the State Address to the Delaware legislature , Mar 5, 2024

Put a hyper-focus on small business: they drive job creation

We know that nationally, and in Delaware, small businesses drive job creation. That's why, for the first time ever, we put a hyper focus on small business inside state government. That includes supporting innovative new tech companies and mom-and-pop mainstream businesses. Since 2019, our EDGE Grants program has supported more than 35 small businesses. These businesses are creating jobs and poised for growth. Source: 2022 State of the State Address to the Delaware legislature , Jan 20, 2022

Proposes fund to convert existing properties for employers

We need to make it easy for businesses to start here and stay here. That's why I'm again proposing a Site Readiness Fund, so we can quickly convert existing properties to meet the needs of prospective employers. Two years ago, we started a new grant program: Encouraging Development and Growth Expansion, or EDGE for short. We've awarded nearly $1.5 million in EDGE Grants to 20 companies. This year we'll expand the EDGE grant program, to encourage even more small businesses to grow and innovate. Source: 2021 State of the State Address to the Delaware legislature , Jan 26, 2021

Budgetary reserve will help during downturn

Regarding lost tax revenue during the shutdown of business, Carney touted his budget smoothing plan, which had put aside $125 million in reserves to cover costs when revenues are down. "It was very important as we buffered the challenges that we had in this budget. As we move forward, there is a lot of uncertainty about the revenues that we will see next year," he said. "It's going to be a tough road, but setting up and having that $125 million in additional reserve is going to help us." [Opponent Julianne] Murray said the government-imposed shutdown has caused unimaginable uncertainty for the state's budget and revenue stream. "Our revenue is going to be down tremendously. Yes, we have this $125 million out here, but the reality is that Gov. Carney is a tax-and-spend person. I am incredibly concerned about what the response is going to be because I have every reason to believe taxes are going to go up when we have the deficit that we absolutely know is coming." Source: Cape Gazette on 2020 Delaware Gubernatorial race , Oct 17, 2020

Budgetary discipline: reduce debt AND cut taxes

I understand the importance of fiscally prudent policies that can successfully balance short term demands against long term budgetary discipline. During my tenure as Secretary of Finance, we were able to reduce the state's debt, cut taxes, and earn the first AAA bond rating in Delaware history. One reason I came to Washington was to bring these same common sense policies to our federal government, and to make the tough decisions necessary to put us on stronger fiscal footing. Source: 2011 House of Representatives website, "Issues" , Oct 30, 2011

Get spending under control and reduce the deficit

Put Delawareans back to work by helping small businesses create jobs with tax credits and reduced regulations.
Fight to get government spending under control and reduce the deficit.
Recover every dollar of taxpayer money that was used for Wall Street bailouts.

Source: 2010 House campaign website, johncarneyforcongress.com/ , Nov 2, 2010

Member of House Banking Committee.

Carney is a member of the House Banking Committee

The House Committee on Financial Services (also referred to as the House Banking Committee) is the committee of the House of Representatives that oversees the entire financial services industry, including the securities, insurance, banking, and housing industries. The Committee also oversees the work of the Federal Reserve, the United States Department of the Treasury, the U.S. Securities and Exchange Commission, and other financial services regulators.

Source: U.S. House of Representatives website, www.house.gov 11-HC-FS on Feb 3, 2011

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*Other governors on Budget & Economy:*			*John Carney on other issues:*
*DE Gubernatorial:* Bethany Hall-Long Matt Meyer Mike Ramone *DE Senatorial:* Chris Coons Eric Hansen James DeMartino Jessica Scarane Lauren Witzke Lisa Blunt Rochester Mike Katz	*Gubernatorial Debates 2023:* KY: Incumbent Andy Beshear(D) vs.State A.G. Daniel Cameron(R) vs.Ambassador Kelly Craft(R) vs.State Auditor Mike Harmon(R) LA: Incumbent John Bel Edwards(D,term-limited) vs.Jeff Landry(R) vs.Shawn Wilson(D) vs.John Schroder(R) vs.Sharon Hewitt(R) MS: Incumbent Tate Reeves(R) vs.Bill Waller(R,withdrew) vs.Brandon Presley(D) *Gubernatorial Debates 2024:* DE: Gov. John Carney (D, term-limited); vs. Lt. Gov. Bethany Hall-Long (D) vs. County Exec. Matt Meyer (D) vs. State Rep.Mike Ramone (R) IN: Gov. Eric Holcomb (R, term-limited); vs. Sen. Mike Braun (R) vs. Suzanne Crouch (R, lost May 7 primary) vs. Eric Doden (R, lost May 7 primary) vs. Attorney General Curtis Hill (R, lost May 7 primary) vs. Jennifer McCormick (D) MO: Gov. Mike Parson (R, term-limited): vs. Secretary of State Jay Ashcroft (R) vs. State Senator Bill Eigel (R) vs. Lt.Gov. Mike Kehoe (R) vs. House Minority Leader Crystal Quade (D) MT: Gov. Greg Gianforte (R) vs. Ryan Busse (D) vs. State Rep. Tanner Smith (R, lost June 4 primary)	*Gubernatorial Debates 2024 (continued):* NC: Gov. Roy Cooper (D, term-limited); vs. Lt.Gov. Mark Robinson (R) vs. Attorney General Josh Stein (D) vs. Treasurer Dale Folwell (R, lost March 5 primary) vs. Justice Michael Morgan (D, lost March 5 primary) vs. State Senator Andy Wells (R,withdrew) ND: Gov. Doug Burgum (R, retiring) vs. State Rep. Rick Becker (R) vs. U.S.Rep. Kelly Armstrong (R) vs. State Sen.Merrill Piepkorn (D) NH: Gov. Chris Sununu (R, retiring) vs. U.S.Sen. Kelly Ayotte (R) vs. Mayor Joyce Craig (D) vs. Acting Gov.Chuck Morse (R) vs. Exec.Councilor Cinde Warmington (D) UT: Gov. Spencer Cox (R) vs. State Rep. Phil Lyman (R) vs. Minority Leader Brian King (D) VT: Gov. Phil Scott (R) vs. Lt.Gov.David Zuckerman (D, withdrew) vs. Selectman Peter Duval (D) vs. Commissioner Esther Charlestin (D) WA: Gov. Jay Inslee (D, retiring); vs. Attorney General Bob Ferguson (D) vs. U.S.Rep.Dave Reichert (R) vs. State Sen. Mark Mullet (D) vs. County Chair Semi Bird (R) vs. Hilary Franz (D, withdrew to run for U.S.Rep.) WV: Gov. Jim Justice (R, term-limited) vs. WV Attorney General Patrick Morrisey (R) vs. Huntington Mayor Steve Williams (D) vs. WV State Auditor JB McCuskey (R, withdrew) vs. WV Secretary of State Mac Warner (R, lost May 14 primary) vs. State Del. Moore Capito (R, lost May 14 primary)	Abortion Budget/Economy Civil Rights Corporations Crime Drugs Education Energy/Oil Environment Families/Children Foreign Policy Free Trade Govt. Reform Gun Control Health Care Homeland Security Immigration Infrastructure/Technology Jobs Local Issues Principles/Values Social Security Tax Reform War/Iraq/Mideast Welfare/Poverty [Title9]