Latest DowDuPont incentives signed into law
The latest bill authorizing parts of an incentive package to keep a DuPont presence in Delaware passed the House with relative ease Thursday, clearing its way into law.
The proposal expands existing tax credits and revives an incentive to lure companies to the state, or now, retain high-paying jobs.
This particular endeavor will cost taxpayers tens of millions of dollars in perpetuity.
“We’re throwing money into the toilet. We’re flushing it. We’re laughing at what we’re doing it. I don’t mean that you don’t take it seriously, but what we are doing is unconscionable to the taxpayers of this state, said Rep. John Kowalko (D-Newark South).
Kowalko was only one of a handful of lawmakers to speak, mimicking a mostly silent Senate vote last week.
Only two other Democrats joined him in voting no against the bill, which passed 34-3.
Rep. Paul Baumbach (D-Newark) didn't cast a vote, calling it a 'half solution'.
“I agree that this approach is valid, but I think we need to pay for our approach. I’m disappointed we haven’t yet and I’m hopeful that every prime and co-sponsor on this bill will be part of the solution by June 30 to pay for this," Baumbach said.
Another bill passed the House in January that lowers corporate taxes, costing the public nearly $50 million over the next three years.
Gov. Jack Markell (D) quickly signed the legislation after it was approved, saying it incentivizes companies aside from Dow and DuPont to relocate to the state and fosters research and development.