PRIORITIES

As Delaware’s population continues to age, saving for retirement is more important than ever. However, an estimated 200,000 Delaware workers do not have access to traditional, employer-sponsored retirement plans. It is imperative that our current and future retirees are financially prepared and have the option to age gracefully and without burden. The Office of State Treasurer has two programs to help Delawareans save for retirement: Delaware EARNS (primarily for W-2 workers whose employers don’t offer a retirement plan) and DEFER (for state employees to supplement Social Security, pension, and personal savings). As Treasurer, I will:

• Launch pilot programs to increase DE EARNS participation by meeting workers where they are—through on-site enrollment events and partnerships with gig platforms and community groups

• Reinstate state matching of employee contributions to DEFER (which has been suspended since 2008) and adjust the maximum match to account for inflation

Public education is a promise we make to our community and a cornerstone of progress. I grew up attending public school and I know firsthand the difference that a great education can make in a student’s life. During the height of the global recession, my family struggled to save for college in the face of skyrocketing tuition costs—a painful situation that too many families still face today. While I was fortunate to receive a full scholarship for my Bachelors and Masters programs, many students are forced to take out large loans to earn a degree, a degree increasingly necessary for many jobs in today’s economy. To help families prepare for their student’s college career or vocational training, I will:

• Extend the recently expired First State, First Steps program, which provided initial seed funding for new college savings accounts (aka 529 plans), and increase seed funding from $100 to $529

• Run additional pilot programs, similar to A$PIRE529, to help underserved students or to cover expenses that traditional 529 plans don’t

It’s no secret that the cost of living has skyrocketed the last few years. As an economic and financial analyst, I know that smart, well-timed action by governmental officials can help alleviate rising costs, while poor judgment and poor timing can cause severe unintended consequences. While inflation is typically discussed as solely an issue to be addressed by Congress or the Federal Reserve, state and local officials can still make a large impact. As Treasurer, I will:

• Maintain our state’s AAA credit rating, which helps lower our debt payments, allowing more of our state's budget to go towards reducing the cost burden of things like housing and energy costs

• Work with the legislature and other government agencies to reduce red tape for families and small business owners in saving money, particularly for individuals with disabilities (through enhancements to the DEPENDABLE plan)

Tariffs, budget cuts, and corporate favoritism from the federal government, mixed with emerging technologies such as artificial intelligence, are rapidly changing America’s, and Delaware’s, financial landscape. This transition presents unique challenges for Delaware's finances—from the risk of job displacement affecting tax revenues and unemployment funds, to the possibility that today's AI investment boom could cool significantly, impacting our state investments and revenues. As Treasurer, I will:

• Prioritize stress-testing our investments against a range of scenarios, ensuring our rainy-day funds are robust while working with the Governor and General Assembly to diversify our revenue base

• Refinance and restructure our state’s debt and adjust our investment allocations when opportunities arise, while maintaining healthy liquidity buffers

The Trump administration and Republicans in Congress have relentlessly attacked the core principles of our democratic system of government, particularly “blue states” like Delaware. We must fight back and do what is in our power to defend against these attacks, as they seem to only be escalating. As Treasurer, I will stand up to Trump’s rule breaking, and prepare for whatever attacks this (or the next) administration tries to throw our way. Resilience itself is a form of resistance. As Delaware’s next Treasurer, I will:

• Partner with our state’s Governor, Attorney General, and Insurance Commissioner to fight back against the Trump administration

• Further stress test our state's finances in preparation for potential future federal funding disruptions, particularly for large budget items like Medicaid, transportation, and education