Coronavirus impact on DE state revenue may be less than feared

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Coronavirus impact on DE state revenue may be less than feared

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DOVER, Del. (AP) — New estimates show that the coronavirus epidemic's impact on Delaware's government coffers may not be as bad as officials initially feared.

A state panel on Thursday increased its revenue estimate for the current fiscal year by $92 million compared to April projections. The panel also increased its revenue estimates for the fiscal year starting July 1 by $73 million.  Delawareans have filed initial unemployment claims in  record numbers in recent weeks. But finance officials said Thursday that they overestimated the impact on income tax withholding of the job losses, which have affected lower-wage workers the hardest.

 

 

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