Del. Gov. Markell avoids layoffs with salary cuts and sports betting

The budget that Delaware Governor Jack Markell unveiled yesterday featured the kind of spending cuts and tax hikes that every state is dealing with. Markell is also gambling on a new stream of revenue.

The budget that Delaware Governor Jack Markell unveiled yesterday featured the kind of spending cuts and tax hikes that every state is dealing with. Markell is also gambling on a new stream of revenue.

Listen:
[audio: reports20090320delbudget.mp3]

Governor Markell wants all state employees to take an eight percent pay cut next year. He also wants to raise taxes on alcohol, cigarettes, and income for the richest Delaware residents. And he’s proposing to dramatically expand Delaware’s legalized gambling.

He wants to make Delaware the “First State” east of the Mississippi River to offer legal sports betting, not just at the state’s three racetrack casinos or racinos, but also at up to ten other venues.

Markell: The plan will help the economy, create jobs and help shrink our state budget shortfall by capitalizing on our competitive advantage and ensuring that the citizens receive a fairer share of what will likely be an increase in gaming revenues.

Markell says the gambling expansion could raise $55 million in its first full year.