Michael Houghton has been appointed chair of the Delaware Economic and Financial Advisory Council (DEFAC) by Gov. John Carney, according to a press release from Morris, Nichols, Arsht & Tunnell, where Houghton is a partner.
DEFAC members are appointed by the Governor and membership represents both the public and private sectors of the Delaware economy. The agency is charged with providing advice to the Governor and the Secretary of Finance on the State’s overall financial conditions, current and projected economic conditions and trends, tax policy and current and projected trends in the national and local economies that may affect Delaware.
The Council is also charged with providing non-partisan and objective revenue and expenditure estimates to the Governor and General Assembly.
“Mike is an ideal choice to lead the Delaware Economic and Financial Advisory Council — an independent thinker who has a deep understanding of how state government works,” said Carney. “DEFAC provides independent forecasts of Delaware’s financial picture, which is an especially important role as we continue to confront our budget challenges.”
Houghton has served in numerous leadership roles with both Delaware and national business and professional organizations, according to the news release.