Governor Carney’s Statement on Budget Smoothing Report
WILMINGTON, Del. – Governor John Carney on Tuesday issued the following statement on the Executive Summary of the Advisory Panel to DEFAC on Potential Fiscal Controls and Budget Smoothing:
“We do not face a budget deficit this year but, as a state, we cannot lose sight of our long-term financial challenges. Working with members of the General Assembly last year, we asked this advisory panel to study and recommend ways to improve our fiscal controls to address our structural spending and revenue challenges. I want to recognize and thank the panel’s chair, Mike Houghton, and all of the panel’s members for their important work.
This is a long-term challenge that will require a long-term commitment. We cannot continue to appropriate into a bubble, only to cut our way out in years where our revenue growth does not match spending needs. We’re already focused this year on limiting spending growth, on directing one-time revenue into one-time investments, and on making sure we don’t spend beyond our means.
Over the long term, fixing this problem will require us to more closely align spending and revenue policies with sustainable levels of economic growth. We should finally commit to addressing our budget problems so we can get back to making investments that matter – in our schools, our communities, and our economy. I look forward to discussing the panel’s recommendations with members of the General Assembly of both parties.”
Governor Carney signed House Joint Resolution 8 in August 2017, creating the advisory panel to study fiscal control measures.
Click here for more information about the advisory panel and its work.