The Delaware Economic and Financial Advisory Council meets today to update revenue projections which will be used in crafting the next state budget.
At its last meeting in September the panel reduced projections for the current fiscal year by $43-million dollars. Tax revenues, franchise fees, corporate taxes and income from casino gambling and the tobacco tax are used to provide the projections. In the spring state revenue projections were on the rise, leading to several one-time state government initiatives. The updated figures will be used as Governor Jack Markell assembles a budget proposal, which will be released in January.