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June 23, 2022 In In The News

Revenues rise again as lawmakers prepare to vote on Delaware’s 2023 budget

From: Delaware Public Media

Delaware gets another revenue boost as lawmakers prepare to finalize the state’s 2023 budget.

The Delaware Economic and Financial Advisory Council added another 89 and a half million to the budget bottom line with its June revenue forecast.

Continued strength in personal income tax and corporate tax revenue fueled latest projected upgrades for both the current fiscal year and 2023.

The latest numbers allow lawmakers to spend up to $6.57 billion dollars next fiscal year.

The budget-writing Joint Finance Committee has finished work on the state’s 2023 operating budget, submitting a nearly $5.1 billion spending plan with just over 378 million in one-time supplemental spending.

That’s well above the $4.9 billion budget and $200 million in one-time supplemental spending Gov. John Carney proposed in January.

Lawmakers need to approve the operating budget – along with the state’s capital spending bill and Grant-in-Aid bill before the legislative session ends June 30th.