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CT budget deficit forecast cut by 40% – but state hardly out of the woods

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Office of Policy and Management Secretary Melissa McCaw has decreased Connecticut’s projected budget deficit by 40% – although the figure remains at $1.2 billion. Last month McCawa wrote to Connecticut Comptroller Kevin Lembo that the state was facing a gap of more than $2 billion. But thanks to better-than-expected tax receipts, the state’s financial picture has…

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