In response to liberal Democrat Chris Coons’ misleading new TV ad, NRSC Spokesman Chris Bond said:

“Despite his desperate efforts to rewrite history with less than 60 days until the election, Chris Coons cannot hide from his record of out-of-control spending and massive property tax hikes after he drove New Castle County to the brink of bankruptcy. Delaware voters simply cannot afford Chris Coons’ reckless tax-and-spend agenda in Washington, and that’s why they will elect a fiscally responsible Republican to the U.S. Senate this November.”

Background Information:

By Coons’ Own Standard, He Led The County From Being “Fundamentally Sound” To The Verge Of Bankruptcy

2009: “‘We’re 18 Months From Being Out Of Money — Unable To Operate, Not To Use The “B” Word,’ Coons Said, In A Reference To Bankruptcy. ‘That’s where we are, and it’s at a time when many families are struggling, and they’re looking to government to help them.’” (Jeff Montgomery, “Sobering Challenges Reflected In Speeches,” The [Wilmington, DE] News Journal, 1/22/09)

2005: Coons Called The County’s Economic Health “Fundamentally Sound.” “While the county’s economic health is ‘fundamentally sound,’ Coons said, there’s been a widening gap between expenses and revenues in the past several years. His proposals would help avoid a projected $152 million shortfall by 2009.” (Angie Basiouny, “NCCo Exec Proposes Reining In Spending,” The [Wilmington, DE] News Journal, 3/30/05)

Coons Increased Property Taxes Three Times As County Executive

In 2009, Coons Proposed A 25 Percent Increase In The Property Tax, The Second Largest Increase In County History. (Angie Basiouny, “Coons’ 2010 Proposal Hits Hard — And Broad,” The [Wilmington, DE] News Journal, 3/18/09)

In 2007, Coons Proposed Raising Property Taxes 17.5 Percent. (Angie Basiouny, “17 Percent Tax Hike Proposed For NCCo,” The [Wilmington, DE] News Journal, 3/21/07)

In 2006, Coons Proposed Increasing Property Taxes Five Percent. (Alison Kepner, “Residents Say Tax Hike Small, But Express Fears For Future,” The [Wilmington, DE] News Journal, 5/16/06)

Spending Increased During Coons’ Tenure In County Government The New Castle County Budget Increased 10 Percent While Coons Was Executive

From Chris Coons’ First Budget As County Executive In 2005 (FY06), To His Most Recent In 2010, New Castle County Spending Has Risen Nearly 10 Percent. (New Castle County Operating Budgets, www.nccde.org, Accessed 6/4/10)

The New Castle County Budget Increased 33 Percent During Coons’ Time In Government

From The First Budget Chris Coons Voted For As County Council President In 2001, To His Most Recent Budget As County Executive In 2010, New Castle County Spending Has Risen 33 Percent. (New Castle County Operating Budgets, www.nccde.org, Accessed 6/4/10)

NOTE: Chris Coons Voted For Every Single Operating Budget Proposed By His Predecessor During His Tenure As County Council President. (O04035, Passed 7-0, 5/25/04, Coons Voted Yes; O03031, Passed 7-0, 5/27/03, Coons Voted Yes; O02041, Passed 7-0, 5/28/02, Coons Voted Yes; O01032, Passed 6-1, 5/22/01, Coons Voted Yes)

The County’s Budget Rating Outlook Was Downgraded To Negative Because The County’s Cash Balance Has Been Spent Down

In 2008, Fitch Ratings Downgraded The County’s “Rating Outlook” From Stable To Negative Because The County’s Cash Balances Were Decreasing. “Fitch Ratings, one of the firms, has for the first time downgraded the county’s ‘rating outlook’ from stable to negative. In its report, analysts warn the county could lose its triple-A if it doesn’t correct its structural deficit. ‘They did put us on notice that they are going to keep a watch on us,’ said Ed Milowicki, New Castle County’s acting finance director. ‘They see that our cash balances are decreasing.’” (Angie Basiouny, “Some Good News: NCCo Keeps Its Top Bond Rating,” The [Wilmington, DE] News Journal, 12/30/08)