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.

 

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 This material may not be published, broadcast, rewritten or redistributed.)

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