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

Delaware Panel Updates Revenue Forecast

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NEW CASTLE, Del. (AP) - The state panel that sets Delaware's official revenue projections has given lawmakers a little more breathing room as they begin wrapping up work on a spending plan for the fiscal year that starts July 1.
    
The Delaware Economic and Financial Advisory Council on Monday raised its revenue estimate for the current fiscal year by $16 million compared to last month's estimate.
    
At the same time, the panel lowered its revenue estimate for the upcoming fiscal year by about $7 million.
    
The net result, with carryover funds and additional reversions of unspent money, is that lawmakers have about $2 million more available then they did last month. But they still face a $12 million shortfall compared to the budget that Gov. Jack Markell proposed in January.

 

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