- Associated Press - Monday, April 17, 2017

DOVER, Del. (AP) - The panel that sets Delaware’s official revenue forecast has lowered its projections.

Monday’s meeting of the Delaware Economic and Financial Advisory Council was the first since Democratic Gov. John Carney proposed a mix of tax increases and spending cuts last month to balance a budget for the fiscal year starting July 1.

WXDE-FM reports (https://bit.ly/2oiRb5x ) the council reduced revenue projections by $4.8 million for the current fiscal year and by $11 million for the next fiscal year.

One member of the panel, state Sen. Gary Simpson, says, “We’re seeing a sluggish economy.”

Before Monday’s revisions, Carney and state lawmakers were already facing an estimated $385 million shortfall between expected revenue and expected expenses for fiscal 2018, based on current year funding.



___

Information from: WXDE-FM, https://delaware1059.com

Copyright © 2019 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide