State revenues continue to lag

Gov. Dannel P. Malloy (CTNJ file photo)
Gov. Dannel P. Malloy (CTNJ file photo)

HARTFORD, Conn. – Budget analysts were unable to offer Democratic Gov. Dannel P. Malloy any good news as he planned to leave today for his first vacation in years.

Revenues haven’t improved as much as he had hoped leaving him with the responsibility of closing a $36 million deficit this year and billion dollar deficits in each of the next two years, according to a new report from budget analysts.

Shortly after winning a second term, budget analysts at the Office of Policy and Management and the legislature’s nonpartisan Office of Fiscal Analysis determined that revenues were lagging projections by about $65 million. On Thursday analysts projected that the state would fall an additional $4 million short of projections, increasing the current year’s budget deficit to about $36 million.

See the complete story at CT News Junkie.



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