NEW CASTLE, Del. (AP) - The panel that sets Delaware's official financial projections is increasing its revenue estimates over last month's figures.
The Delaware Economic and Financial Advisory Council on Monday boosted its revenue estimate for the current year by $15.4 million, mostly due to a $12 million jump in estimated corporate income taxes.
For fiscal year 2014, which starts July 1, the panel increased its revenue estimate by about $5 million, also due largely to corporate income taxes.
Members of the legislature's budget writing committee will use the updated figures as they begin marking up Gov. Jack Markell's proposed budget for fiscal 2014. The Joint Finance Committee begins its markup process Tuesday.
Last month, the DEFAC panel officially adopted a series of tax increases on which Markell based his spending plan.
