Bross Chingas Bross Real Estate, Riverside Realty, #1 in 2013
Leslie Clarke Homes, your real estate solution, Westport, CT 203-984-1856Happy Holidays from the Westport Downtown Merchants Association
WESTPORT’S TOP DOG FOR 2015.  The new year is right around the corner and it’s time for the Westport Top Dog Photo & Essay Contest for 2015!
 
Monday, December 22, 2014
NewsPolitics

Thursday, November 15, 2012

Projected Deficit for Next Fiscal Year Tops $1.1 billion

Digg Favicon Email Favicon Facebook Favicon LinkedIn Favicon TwitThis Favicon  

By Keith M. Phaneuf

www.ctmirror.org

State analysts are projecting more than a $1.1 billion state budget deficit in the fiscal year beginning July 1, a gap roughly one-third the size of the record-setting shortfall that Connecticut’s governor and legislature tried to close just two years ago.

The projected shortfall for the coming year is sandwiched between the $365 million deficit Gov. Dannel P. Malloy’s administration reported Wednesday for the current fiscal year and a long-range forecast for another gap of more than $1 billion in 2014-15.

But since the governor and legislature must balance the current books and craft a new two-year spending plan this spring, that means they must wipe $2.5 billion in real and projected red ink off the state’s books before the 2013 session ends next June.

The $1.1 billion gap means state government has recovered nearly one-third of the mammoth-sized deficit Malloy inherited just two years ago. And it threatens the governor’s often stated goal of not increasing taxes in the budget that begins July 1—a plan he must propose to the General Assembly in early February.

Click here for more of story

Posted 11/15 at 10:32 PM 

Comments:     Comment Policy

No comments yet.

You need to Register and be logged in to post comments. If you are already registered but are not logged in, you can Login here.

Name:

Email:

Location:

URL:

Remember my personal information

Notify me of follow-up comments?

You must be logged in to comment. You must also answer the question or solve the equation below:

10 - 9 = ? (1 character(s) required)

Please note by clicking on "Submit" you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Inappropriate posts may be removed.

<< Back to main