Alternate Budget Proposal

A Look at Delaware’s Budget ,[object Object],[object Object],A look at Delaware's Budget: Alternatives do Exist

The solution for Delaware has to be…….. ,[object Object],[object Object],[object Object],[object Object],A look at Delaware's Budget: Alternatives do Exist

The Current Proposal includes… ,[object Object],[object Object],[object Object],[object Object],[object Object],A look at Delaware's Budget: Alternatives do Exist

Raising a total of… ,[object Object],[object Object],[object Object],[object Object],[object Object],A look at Delaware's Budget: Alternatives do Exist

A Look at the Numbers ,[object Object],[object Object],[object Object],A look at Delaware's Budget: Alternatives do Exist

To make the burden equal…. A look at Delaware's Budget: Alternatives do Exist State worker at 60,000 Who is asked to take an 8% cut Loses $4,800, which is the equivalent of a 13.7% PIT increase in the 25 – 60 K Bracket A non state employee making $60,000 Would have his PIT increased from 5.45% to 19.16% In the 25,001 – 60,000 bracket

Potential Impact of 8% - 10% Loss to 30,000 Citizens ,[object Object],[object Object],[object Object],A look at Delaware's Budget: Alternatives do Exist

The Impact on Small Business ,[object Object],[object Object],A look at Delaware's Budget: Alternatives do Exist

Alternatives do Exist that…. ,[object Object],[object Object],[object Object],A look at Delaware's Budget: Alternatives do Exist

Taking a Closer Look at PIT ,[object Object],A look at Delaware's Budget: Alternatives do Exist

PIT Scenarios A look at Delaware's Budget: Alternatives do Exist Proposal Brackets and Changes FY 10 FY 11 Total Average Additional Revenues per year Administration +1% >60K 30M 78M 108M 54M NA Proposal A +.25 <60K +.5 >60K +1.75 > 120K 51.6M 132.8M 184.4M 92.2M 38.2M Proposal B +.5 <60K +.75> 60K +2>120K 73.M 186.6M 259.9M 129.95M 75.95M Proposal C +.25<60K +.75>60K +1.75>120K 54.4M 139.9M 194.3M 97.15M 53.15M Proposal D +.5<60K +1 >60K +2 >120K 76.1M 193.7M 269.8M 134.9M 80.9M Proposal E Unchanged <60 +.5 >60K +2 >100K 45.8M 119.7M 165.5M 82.75M 28.75M Proposal F Unchanged <60 +1 > 60K +2 >100K 50.3M 131.1M 181.4M 90.7M 36.7M

Additional Tax Obligation Scenarios A look at Delaware's Budget: Alternatives do Exist

Taking a Look at the Business World ,[object Object],[object Object],[object Object],[object Object],A look at Delaware's Budget: Alternatives do Exist

A Snapshot of Delaware Businesses ,[object Object],[object Object],[object Object],A look at Delaware's Budget: Alternatives do Exist

Summary of PIT and Franchise Tax Caps ,[object Object],[object Object],A look at Delaware's Budget: Alternatives do Exist

Comparisons and Questions of Equity and Responsibility A look at Delaware's Budget: Alternatives do Exist

A Look at Franchise Tax Cap ,[object Object],[object Object],A look at Delaware's Budget: Alternatives do Exist

Current Administration’s Proposal ,[object Object],A look at Delaware's Budget: Alternatives do Exist

Raising the franchise tax cap…. ,[object Object],[object Object],[object Object],[object Object],A look at Delaware's Budget: Alternatives do Exist

Additional Revenue Streams A look at Delaware's Budget: Alternatives do Exist

More Options A look at Delaware's Budget: Alternatives do Exist

Statutory trusts and Rainy Day… A look at Delaware's Budget: Alternatives do Exist

Tax on Inherited Wealth (On Estates Valued over 4M) A look at Delaware's Budget: Alternatives do Exist

Gasoline Tax A look at Delaware's Budget: Alternatives do Exist

Furlough Days for Other State employees ,[object Object],[object Object],A look at Delaware's Budget: Alternatives do Exist

Summary A look at Delaware's Budget: Alternatives do Exist

Additional Furlough Days ,[object Object],A look at Delaware's Budget: Alternatives do Exist

Sources ,[object Object],[object Object],[object Object],[object Object],A look at Delaware's Budget: Alternatives do Exist

Alternate Budget Proposal

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