Despite budget fixes, Connecticut still faces deficits - WFSB 3 Connecticut

Despite budget fixes, Connecticut still faces deficits

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(WFSB file photo) (WFSB file photo)

Despite making some last-minute fixes last week to the newly passed, two-year, $41.3 billion state budget last week, Connecticut lawmakers are still grappling with fiscal problems.

Consensus revenue estimates released 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. The new fiscal year beginning July 1 will be $147.1 million in the deficit.

News of more red ink was disappointing but not surprising for legislative leaders, who negotiated throughout the summer before finally reaching a bipartisan agreement last month.

They're keeping a close eye on sales and income tax revenues, which are already falling short, as well as what's happening in Washington with federal tax reform legislation. Both could worsen deficit estimates.

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