NEW CASTLE, Del. (AP) - The panel that issues Delaware's official revenue forecast has given legislative budget writers a little more breathing room.
The Delaware Economic and Financial Advisory Council on Monday boosted the net revenue estimate for the current and upcoming fiscal years. The panel says revenues are up by about $33 million over last month's estimate, thanks mostly to personal and corporate income tax collections.
Available revenue is still $15 million lower than when Gov. Jack Markell unveiled his $3.9 billion budget proposal in January. But lawmakers will have to close a gap closer to $30 million because they have balked at some of Markell's ideas to balance the budget, including reducing tax breaks for senior citizens.
Lawmakers must pass a budget before the new fiscal year starts on July 1.
