Delaware Senator William

Legislative oversight bill to be introduced for regulation changes proposed by ...

Legislation that would bring oversight from state lawmakers on state agencies looking to enact new regulations will be introduced in the state House.  While state agencies like DelDOT and DNREC are often required to hold public hearings before new regulations are adopted – often the public hearing are sparsely attended because information on the scope and impact these regulations could have on the public may not be explained.  Senator Robert Venables of Laurel says the people staffing our state agencies need to fully consider how their actions will affect all residents of Delaware – as these regulations can have consequences as far-ranging as any law that’s enacted in the General Assembly.  This bill would require an impact statement be included as part of the proposed regulatory change.  Also failure to comply with the legislation would void any regulatory change made by an agency.

——————————

NEWS RELEASE:  We need the people staffing our state agencies to more fully consider how their actions will affect all Delawareans

A bill to provide legislative oversight of state agencies’ ability to enact new regulations will be introduced in the State House of Representatives tomorrow.

“State agencies, like the Department of Natural Resources and Environmental Control (DNREC), have sweeping powers to promulgate new regulations that carry the weight of law,” Rep. Hocker said.  “There is some limited notification rules the agencies must now follow in issuing new regs, but these precautions are often ineffective at informing the public and state legislators about what the actual scope and impact of these changes will be.”

Rep. Hocker cited a regulation DNREC adopted in November mandating that beginning with the 2014 model year, all new vehicles sold in Delaware must comply with the State of California’s emission standards.  DNREC, which is required to hold a public hearing on regulatory changes, held the event on October 22nd – a Friday night, 10 days prior to the general election.  “Not surprisingly, the meeting was lightly attended,” Rep. Hocker said.

Supporters of the bipartisan measure say that currently, citizens and legislators are often reacting to regulatory additions or changes after they have been adopted.

“Regulations can have consequences as far-ranging as any law we enact in the General Assembly,” said Sen. Robert Venables (D-Laurel), a prime sponsor of the bill.  “We need the people staffing our state agencies to more fully consider how their actions will affect all Delawareans.

Retire on Silver: Putting Bullion in IRAs | Silver Monthly - The ...

Individual Retirement Accounts (IRAs) were established by the Employee Retirement Security Act (ERISA) of 1974. IRAs allow most Americans, subject to income limitations, to invest up to a maximum of $4,000 per year ($5,000 if you’re age 50 or older) in a tax-sheltered account. Typically, investors buy stocks, bonds, and mutual funds with their IRA money, but can precious metals also be held in an IRA? Yes.

The Basics of IRAs

There are two major types of IRAs: Traditional IRAs, which came into being via ERISA in 1974; and Roth IRAs, which was established by a 1988 tax law chiefly sponsored by Senator William Roth of Delaware.

Traditional IRAs allow individuals to invest up to $4,000 of pre-tax money into their accounts each year. This means that for every $1 contributed to your IRA, you receive a $1 tax deduction. The money in your IRA is allowed to compound tax free, but then when you begin withdrawing it upon retirement, your withdrawals are taxed as regular income.

Roth IRAs, on the other hand, use after-tax money. This means you do not get a tax deduction for your contributions. However, the good news about Roths is they also compound tax free, but when you begin making withdrawals the withdrawals are 100% tax free as well. Since you didn’t get a tax deduction when you contributed, you already paid taxes on the money — luckily, the government has decided to “generously” not tax you a second time.

Precious Metals in Your IRA?

Because IRAs were written into law by government, the government unfortunately has a say about what you can put into your IRA. Stocks, bonds, mutual funds, cash, and even real estate (with some exceptions) are all fair game — subject to the rules imposed by your IRA custodian (i.e. Ameritrade or Edward Jones, etc.) But what about gold and silver?

For the first twenty-three years following ERISA, Gold Eagles and Silver Eagles were the only eligible gold and silver investments you could put into an IRA. This was especially negative for fans of silver, since Silver Eagles typically carry an $1.80 per-ounce premium over the price of silver bullion! But fortunately, in 1997, Congress passed a law expanding the eligible precious-metal assets investors could put into their IRAs.

Chief among these newly allowed assets was bullion. Since the premium on Eagle coins was so much greater for silver than for gold, this allowance has been a real boon for silver investors. Coins other than Eagles were also admitted into IRAs in 1997, but they must be at least 99.5% pure and serve as legal tender in order to qualify as IRA investments. While this greatly expanded the number of gold-coin offerings (Gold Maple Leafs, Kangaroo Nuggets, Philharmonikers, and the Perth Mint’s Lunar Series all make the grade), it kept the eligible silver coins limited to Silver Eagles and Silver Maple Leafs — both of which sell at high premiums to the commodity price of silver.

Compilation of Senate election cases from 1789 to 1885

Catalogue of the public documents of the ... Congress and of all departments of the Government of the United States for the period from ... to ...

Hearings

United States Congressional serial set

Hinds' precedents of the House of representatives of the United States, including references to provisions of the Constitution, the laws, and decisions of the United States Senate