"Budget smoothing" just rebranded term for budget cuts (John Kowalko)
HB 460 is blasted by Rep. John Kowalko (D-Newark), with particular reference to a 6/17/18 column in favor of the proposal by two Delaware business leaders. Some of the writer's arguments are debatable, e.g., that this proposal is equivalent to a “balanced budget amendment.” The General Assembly is already required to balance the budget, so that could hardly be the purpose of HB 460. However, two points seem well founded:
First, the business leader column was superficial, offering no rationale for passing HB 460 other than “twice repeating a line about ‘smoothing out the high and lows of revenue projection.”
Second, the pace at which HB 460 is advancing in the General Assembly is extraordinary for a constitutional amendment that could have important consequences for many years to come. Thus, the bill “was introduced [on June 12], passed out of committee the next day, and was on the agenda for a [House] vote by the day after.”
In the writer’s view: “HB 460 should not be passed at this time. A serious consideration of its intended and unintended consequences needs to be discussed with the entire General Assembly and the public over the course of the summer.” Amen!