Delaware Panel Lowers Revenue Forecast - 47 ABC - Delmarva's Choice

Delaware Panel Lowers Revenue Forecast

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NEW CASTLE, Del. (AP) - The panel that sets Delaware's official financial projections is releasing new numbers that won't make life any easier for lawmakers as they start drafting a budget for the upcoming fiscal year.
    
The Delaware Economic and Financial Advisory Council on Monday lowered its revenue estimate for the fiscal year starting July 1 by $19 million compared to its April estimate.
    
But an even more pressing problem for Markell administration officials is how to close a $14 million hole in the current budget before the fiscal year ends June 30.
    
Members of the legislature's Joint Finance Committee convene Tuesday to begin marking up Gov. Jack Markell's proposed budget for the fiscal year starting July 1.

 

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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