- Associated Press - Tuesday, May 26, 2015

DOVER, Del. (AP) - Legislative budget writers are a long way from coming up with a balanced budget for the fiscal year starting July 1, but are taking a break until new revenue estimates come in.

Joint Finance Committee members began marking up Gov. Jack Markell’s proposed $3.9 billion spending plan last week staring at a gap of $83 million. That shortfall included a $48.5 million difference between Markell’s spending proposal and available revenues, and $33 million in proposed cost-cutting measures rejected by committee members.

Committee co-chair Sen. Harris McDowell III said after Tuesday’s meeting that the panel has cut $18.3 million from Markell’s proposal. That leaves the existing problem at about $65 million.

Final revenue estimates for the fiscal year are due June 15. Committee members will resume their work a week later.

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