the republic logo

State comptroller says Connecticut still faces $161.7 million deficit despite recent cuts

bug
Share/Save/Bookmark

HARTFORD, Connecticut — State Comptroller Kevin Lembo says Connecticut's main spending account will end the fiscal year with a $161.7 million deficit.

Lembo released his latest deficit projection Friday. It comes after Gov. Dannel P. Malloy ordered a third round of mid-year cuts April 1. It also accounts for updated revenue estimates agreed upon by Malloy's budget office and the legislature's Office of Fiscal Analysis.

Lembo says the largest budget shortfalls for the year ending June 30 are from less-than-expected revenues from federal grants and health provider and income taxes. Sales and corporation tax revenues increased.

Malloy's budget chief, Ben Barnes, says the Democratic administration will "take appropriate action" over the next two months to balance the budget. Senate Republicans leader Len Fasano has called on Malloy to outline how he'll accomplish that.

Think your friends should see this? Share it with them!

Story copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to info@ap.org and it will be forwarded to the appropriate editor or reporter.


We also have more stories about:
(click the phrases to see a list)

Category:

Follow The Republic:

All content copyright ©2015 The Republic, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.