PLATFORM

"I'm entering this race because I believe our next State Treasurer has to ask a fundamental question. One the current candidates aren't asking. How can we ask people to build wealth when they have no wealth to build? We need a Democrat that understands the median Delaware household is $8,000 poorer than it was five years ago. A Democrat that will fight to protect social services being cut at a federal level. That will advocate for new programs to help those in need.
"Our next State Treasurer needs to help prepare the state and it's residents for the serious economic challenges it will face over the next four to eight years. Together, as a community, we can create a better Delaware."

Dave Tancredi's Goals as State Treasurer

Managing the People's Money

The State Treasurer is responsible for protecting the finances of Delaware and oversees the staff that manages the money of the state. The Treasurer also works in collaboration with the many boards and oversight committees to make the best financial decisions in the interest of Delaware, its people, and its state workers.

As Treasurer I promise to...

Continue to uphold the last decade's regulatory reforms meant to protect money invested by the state. This includes the updated 2016 state regulations and 2023 investment strategy initiated by the Cash Management Board.
Not advocate for any new investment vehicles until confident office staff has ability to provide adequate oversight.
Maintain the state's AAA Bond rating.
Work with the Debt Management Team to continue restructuring state debt to reduce the burden on taxpayers.
Continue operational and security improvements within the Office of State Treasurer, the state, and municipalities.

Delaware's Economic Challenge

Dave has come to believe that too few people truly understand how difficult things have become for most Delawareans. The words inflation, cost-of-living crisis, and affordability don't do justice to the challenge residents are facing.

Since COVID the median Delaware household has become $8,000 poorer than it was five years ago. A drop in purchasing power that severe can be an existential threat to a family's prosperity.
The number of Delaware households who have no emergency funds increased from 37% to 48%.
The number of Delaware workers who had to make hardship withdrawals from their retirement accounts increased by 50%.
This matches the percentage increase of hardship withdrawals by state workers, which also had a 50% increase in 2025.
The number of Delaware homeowners late on mortgage payments increased by over 50%.
The number of Delaware residents saying they are spending more than their income also increased by 50%.
The percentage of Delaware households saying that they had difficulty covering expenses and paying bills increased from 37% to 54%.

Dave feels the Democratic Party needs a State Treasurer who understands and can explain to policy makers the economic challenges facing Delaware residents. Who will fight for progressive programs designed to help those in need. Together, as a state and a community, we can face these challenges head on and create a better Delaware.

Protecting Social Security
Social Security is a very personal issue for Dave. He's studied social security for over 20 years out of love for the program. His work with struggling households often has him helping seniors who's sole income is Social Security. It's why he became an AARP member even though he's not a senior. Few Democrats in the state will fight harder to protect your Social Security.

In 2024, congress passed legislation that created massive Social Security inequalities between states, affecting Delaware'. This change is costing Delaware $55 million per year in lost Social Security benefits. Benefits now sent to other states at Delaware's expense. Dave believes this was wrong and will fight to have this Social Security funding returned.
As a member of the Democratic State Treasurers Association, Dave will argue that states that refuse to participate in Social Security must do so for the good of the program.
Working to see Delaware become the first state in the nation to achieve 100% Social Security participation.
Educate the people of Delaware on the challenges facing Social Security and vigorously oppose any benefit cut.

Retirement Savings

Helping so many people who struggle in retirement has affected Dave deeply. Having a pension, a sound 401k program, and a Roth IRA has changed his life and informed him on the challenge to those who are without these benefits. Dave will continue to expand access to retirement programs in the state.

Increase employer participation in Delaware EARNS and encourage more employers to allow payroll integration in the program. DE EARNS is the state mandated retirement program for employees of businesses that do not offer a retirement program.
15% of Delaware residents have no access to a retirement program. Dave will focus on those employees not covered by DE EARNS by increasing access to IRA and 401k plans.
60% of Delawareans have no idea how much they'll need to save for retirement. Dave will create a "Know Your Numbers" campaign to improve financial education.
Encourage parents to set up Roth IRA plans for their working children.
Work to reduce inequalities in the different state employee retirement programs. (457b, 403b & 401a plans)
Continue Treasurer Davis' advocacy for the state legislature to reinstate the state employees retirement match.
Continue the Office of State Treasurer's policy of granting fee holidays to state workers to improve their investment returns.
Provide firm oversight of the state retirement plan administrator, Voya.

Income Assistance

The Office of State Treasurer has long felt one of its duties is to improve the financial literacy and budgeting skills of Delawareans. Financial coaching through partnerships with Stand By Me and community outreach can only help so much in the economic conditions outlined above. That's why Dave feels our next Treasurer should also advocate for programs that directly impact the wallets of Delawareans.

The state should perform a number of pilot programs dedicated to helping residents better control their electric bills. This includes an energy monitoring pilot and a heat pump efficiency pilot. If the pilots are successful, the state should seek a waiver from the Department of Energy to use energy efficiency funds to expand the programs.
Congress needs to perform a wholesale reform of LIHEAP. The federal Low-Income Home Energy Assistance Program.
The state needs to prepare for a massive increase in food assistance need as SNAP benefits are cut. For every one meal served by a food bank, nine are served by SNAP.
Delaware must continue it's work from 2023 to improve unemployment benefits for state residents. Improve oversight and work on innovative new solutions to assist the unemployed.
Enhanced federal child tax credits similar to those enacted as a response to COVID should be made permanent. Working families used those dollars for the benefit of their children and their future prosperity.

Financial Literacy & Protection

Delaware residents working hard to build wealth can fall into terrible financial traps. Even with all the opportunities for financial education on the web and in media. As State Treasurer, Dave will improve education around the following challenges.

Effective in late 2025, Buy Now, Pay Later (BNPL) Apps can now impact credit scores. Affecting credit for all kinds of purchases that were not previously recorded. With the rise of BNPL, more resident may suddenly see negative impacts to their credit ratings.
The rise of internet gambling is having massive negative impacts on finances and savings. Mostly affecting young men, the Treasurer needs to improve education around this issue. Helping educate parents about the many ways gaming companies see gambling as a way to extract profits from underage youths.
Work to inform and protect residents from the predatory nature of some finance companies. Helping residents avoid excessive fees, debt traps, and predatory financial engineering.
Work with the state legislature and attorney general's office to ensure there are adequate protections for Delaware homeowners from zombie mortgages.

Community Impact

The State Treasurer sits on a number of boards and committees that directly effect the quality of life of the communities of Delaware.

One of the most serious duties overseen by the State Treasurer is to sit on the Board of Pardons. The decisions of this board can affect countless lives and families. Dave will hear all sides and make decisions he deems in the best interest of justice and the community.
The State Treasurer is a member of the Aglands Foundation Board of Trustees. Dave understands how important the Agland's Preservation Program is through his work with farmsteads over the years. He'll approach the preservation of Delaware's open spaces and the needs of young farmers with the same diligence as the states finances.
Ensuring Delaware's volunteer firefighters and EMT's are getting the support they need as a member of the Delaware Council of Volunteer Fire Service.

Educational Savings

Only 40% of Delaware families have set aside money for their children's education. Further, in 2025 the Delaware 529 program saw a negative withdrawal rate of $24 million from the program. With enhanced competition from other states, and new childhood investment vehicles like 530a accounts, Delaware needs to encourage greater participation in it's 529 plan.

Petition the state legislature to introduce an updated contribution matching program for new 529 plans. With up to an additional $700 match on the first $350 invested for low-income and disabled residents in the first year after opening the account.
Educate residents on expanded uses for 529 plans like professional licensing, credentials, workforce training, special education needs, & Roth IRA rollovers.
Perform outreach to disabled residents of increased eligibility for the "Dependable" Delaware ABLE 529 Plan. Age restrictions have increased from 26 to 46 and there's now eligibility for the $2,000 Savers Tax Credit.