Delaware House Passes Tax Decoupling to Stave Off Revenue Hit

The Delaware House approved legislation Thursday that would decouple the state from some federal business tax incentives after a rancorous debate between the political parties.

The House voted 26-13, with 2 absences, to send H.B. 255 to the Senate during a special session called by Gov. Matt Meyer (D) to address a potential $400 million budget shortfall caused by provisions of the tax law Congress passed in July.

• The bill, sponsored by House Majority Leader Kerri Evelyn Harris (D), would prohibit companies from immediately writing off the full cost of research and experimental costs and property investments.
• The ...