By James Dawson
Delaware’s budget woes continue as the latest state revenue forecast anticipates additional losses in what’s turning out to be a lean year.
The Delaware Economic and Financial Advisory Council (DEFAC) projects a $55.2 million gap for lawmakers to bridge based on the governor’s recommended budget for fiscal year 2015. That’s up from $37.1 million in the April DEFAC estimate.
The gap remains despite Office of Management and Budget officials lopping off another $34.6 million in current year spending, bringing the total cut from FY 2014 to nearly $105 million.
Much of the lost revenue the state is attempting to make up for stem from drops in the personal and corporate income taxes.
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