State panel updates Delaware revenue forecast

A state panel has added more than $80 million to Delaware's government revenue estimate as lawmakers prepare to begin drafting a new budget.

 Members of the Joint Finance Committee meet in Dover in this file photo. (File/WHYY)

Members of the Joint Finance Committee meet in Dover in this file photo. (File/WHYY)

A state panel has added more than $80 million to Delaware’s government revenue estimate as lawmakers prepare to begin drafting a new budget.

The Delaware Economic and Financial Advisory Council on Monday increased this year’s revenue estimate by more than $64 million compared to April’s projections, thanks largely to corporate franchise and income taxes.

The revenue estimate for fiscal 2019, which starts July 1, increased by more than $16 million compared to April’s estimate, with corporate franchise taxes again playing a large role.

The legislature’s Joint Finance Committee begins a two-week series of bill drafting sessions Tuesday.

  • WHYY thanks our sponsors — become a WHYY sponsor

Lawmakers indicated that the additional revenues could be used for one-time expenditures in the upcoming fiscal year, for which Gov. John Carney is calling for a 3.5 percent increase in the ongoing operating budget.

WHYY is your source for fact-based, in-depth journalism and information. As a nonprofit organization, we rely on financial support from readers like you. Please give today.

Want a digest of WHYY’s programs, events & stories? Sign up for our weekly newsletter.

Together we can reach 100% of WHYY’s fiscal year goal