revneue projections

Don Rush

NEW CASTLE, Del. (AP) - The panel that sets Delaware's official financial projections has significantly lowered expectations for corporate income tax revenue this year, putting more pressure on state lawmakers charged with developing a budget for the upcoming fiscal year.

The Delaware Economic and Financial Advisory Council on Monday lowered its overall revenue estimate for the current fiscal year by almost $108 million compared to its December forecast, led by a $70 million drop in estimated corporate income taxes.