PRIORITIES

As Delaware’s population continues to age, saving for retirement is more important than ever. 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 (for the estimated 150,000 to 200,000 Delaware workers who do not have access to traditional, employer-sponsored retirement plan) and DEFER (for state employees to supplement Social Security, pension, and personal savings). As Treasurer, I will:

• Increase awareness of DE EARNS among small business owners and their employees, and create a clear on-ramp for gig workers and the self-employed to participate as well

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

• Build on recent financial literacy legislation by partnering with Del Tech, local school districts, and labor unions to deliver financial literacy training to students and working adults, with a particular focus on the benefits of starting retirement savings early

Public education is a promise we make to our community and a cornerstone of progress. Having grown up attending public school, 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 earn a full scholarship for my bachelor’s and master’s programs, many students have no choice but to take out large loans to finance their education. To help families and students prepare for the expenses of a college career or vocational training, I will:

• Extend the First State, First Steps program—which provides matching contributions when parents open DE529 Education Savings Plan accounts for children under 5—and increase the match from $100 to $529

• Build on the A$PIRE529 pilot project to help a wider set of underserved students (e.g., estranged students) receive a higher education or cover expenses that traditional 529 plans don’t

• Initiate a “baby bonds” program for children born into low-income families—investing $2,000 on each newborn’s behalf that can be used for higher education or other early-life investments once they turn 18

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 decisions made on the federal level are the main drivers of inflation, 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 toward reducing the cost burden of housing, energy, and other living expenses

• Work with the legislature and other government agencies to reduce red tape for families and small business owners trying to save – particularly for individuals with disabilities (through enhancements to the DEPENDABLE plan)

• Be a vigilant guardian of our state employees’ healthcare and other benefits while pursuing innovative solutions to contain costs

Tariffs, budget cuts, and corporate favoritism from the federal government, mixed with emerging technologies and risk factors such as artificial intelligence and climate change, are rapidly changing America’s financial landscape. This transition presents unique challenges for Delaware's finances—from the risk of job displacement and battered infrastructure affecting tax revenues and capital outlays, to the possibility that today's investments could cool significantly. 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

• Recognize the long-term financial risk of stranded assets and defend the use of environmental, social, and governance considerations in investments

• 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 in “blue states” like Delaware. We must fight back and do everything in our power to defend against these attacks, as they are only 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 Governor, Attorney General, and Insurance Commissioner to fight back against the Trump administration

• Ensure that our state stands ready in the face of any future federal funding disruptions, particularly for big-budget items like Medicaid, SNAP, transportation, and education

• Steer Delaware’s Digital Government initiative to balance the desires of providing a single, streamlined platform for state services with maximizing the safety and privacy of our residents’ sensitive data—particularly from overreaching requests by the Trump administration