Tue June 17, 2014
Revenue Panel Gives Breathing Room to Delaware Lawmakers
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.