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Delaware Revenue Estimates Down

Don Rush

NEW CASTLE, Del. (AP) - The panel that sets Delaware's official financial projections is lowering its revenue estimates for the current and next fiscal years.

The Delaware Economic and Financial Advisory Council met Monday for the first time since Gov. Jack Markell signed the fiscal 2014 budget in the summer.

The panel lowered its fiscal 2014 revenue estimate by $8 million compared to its June estimate, mostly because of a decline in expected lottery income.

The fiscal 2015 revenue estimate dropped by $16 million compared to DEFAC's June estimate, with lowered expectations for lottery revenue and corporate franchise and income taxes.

Don Rush is the News Director at Delmarva Public Media. An award-winning journalist, Don reports major local issues of the day, from sea level rise, to urban development, to the changing demographics of Delmarva.