NEW CASTLE, Del. (AP) - Delaware's official government revenue forecast has inched up slightly as state lawmakers consider a proposed $4.4 billion operating budget for next year.
The Delaware Economic and Financial Advisory Council on Monday boosted the revenue estimate for this year by $19.6 million compared to its previous estimate in December, to just under $4.49 billion. The panel increased its forecast for next year by $4.8 million, to just under $4.57 billion.
Combined with previous revisions, revenue projections for this year have increased by $121.6 million since lawmakers approved this year's budget last June. Revenue estimates for fiscal 2020, which starts July 1, have increased by about $51 million over the same period.
The latest estimates partially reflect lower projections for personal income tax revenue offset by higher estimates for corporate franchise taxes.