DE Falls Short Of Revenue Estimates, May Face Budget Cuts - 47 ABC - Delmarva's Choice

DE Falls Short Of Revenue Estimates, May Face Budget Cuts

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DELAWARE -  Lawmakers in the first state may face hurdles as they work on a budget for the upcoming fiscal year.

Delaware's Economic and Advisory Council met yesterday, and reportedly recognized revenue shortfalls to the tune of about $75 million. They also reportedly saw an additional $20 million in reversions, which is money they will not spend htis year. However, this means the state is still facing a drop-off of about $55 million.

While there are still two more revenue meetings in May and June before the next fiscal year begins on July 1st, this could potentially mean budget cuts down the line. 

"Those are my two concerns, any future reductions in revenues and just keeping an eye on the state's spending," says Ann Visalli, Delaware's Director of the Office of Management and Budget. "We will have to take a hard look at the recommended package that was introduced in January and potentially cut back."

Visalli says Governor Markell's water and gas tax proposals are likely to be discussed by lawmakers from now until June as well.
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