Delaware economic experts on Monday predicted a budget surplus of $667.1 million for fiscal year 2024, but warned the state is likely already in a recession that could affect that forecast. During the meeting of the Delaware Economic and Financial Advisory Council, revenue officials said they expected announcements that a recession either started last week or will this week. The …
The state is on track to have a huge surplus. Photo by Brian K. Leonard. September 2021 Fueled by stronger than expected corporate and personal income tax, a state committee is now forecasting that Delaware will have an $823.8 million surplus in its 2023 budget. Michael Houghton, chairman of the Delaware Economic and Financial Advisory Council on Monday called …
With Delaware’s revenue surplus holding steady at $1.12 billion, state budget bills dropped into the General Assembly Friday include a one-time $1,000 bonus for state employees and $500 bonus for pensioners. State employee expenses will soar in Fiscal Year 2022, which starts July 1, according to the final expenditure and revenue estimates by members of the Delaware Economic and …
Delaware’s major revenue sources are real estate transfer taxes, corporate franchise income, unclaimed property and COVID government benefits.
