Delaware panel issues final revenue forecast of fiscal year

The panel that issues Delaware’s official revenue forecast is providing its final update of the fiscal year.

Lawmakers will use Monday’s update from the Delaware Economic and Financial Advisory Council to finish marking up Gov. Jack Markell’s proposed $3.9 billion budget for the fiscal year starting July 1.

Last month, the estimate of revenue available for fiscal 2016 increased by about $18.5 million, following a decline of $22 million in April. 

Despite last month’s uptick, estimates of revenue available for fiscal 2016 were still down about $48 million since Markell proposed his budget in January.

The gap that lawmakers were left with was much higher because they refused to go along with Markell’s proposals to increase state employee health care contributions and to reduce tax breaks for senior citizens.

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