Report shows new state budget already has projected deficit
Nov. 13, 2017
HARTFORD, Conn. (AP) — A report shows Connecticut's newly reached state budget agreement is already in the red.
Consensus revenue estimates released Monday by Democratic Gov. Dannel P. Malloy's budget office and the General Assembly's nonpartisan fiscal office project the current fiscal year will end $178.4 million in deficit, while the new fiscal year beginning July 1 will be $147.1 million in the deficit.
State lawmakers last month passed a new, bipartisan two-year $41.3 billion budget, about four months after the fiscal year began.
The Democratic and Republican leaders of the state Senate say the numbers are disappointing but not unexpected.
In a joint release, Democratic Senate President Martin Looney and Senate Republican Leader Len Fasano say they'll monitor the numbers closely and "remain committed to working together" to make any necessary changes.