Panel to update Delaware revenue estimates

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Panel to update Delaware revenue estimates

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NEW CASTLE, Del. (AP) — A state panel is updating Delaware's official government revenue forecast, which lawmakers will use in considering a proposed $4.4 billion operating budget for next year.

Monday's meeting of the Delaware Economic and Financial Advisory Council comes after the panel voted last month to boost the revenue estimate for this year by $19.6 million compared to its December estimate. It also increased its forecast for the fiscal year starting July 1 by $4.8 million, to just under $4.57 billion.

As of mid-March, revenue projections for this year had increased by $121.6 million since last June, while revenue estimates for fiscal 2020 were up by about $51 million.

Personal income tax is the biggest revenue source for the state, but individual returns for this year aren't due until a week from Tuesday.

 

Source: AP

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