Home Fairfield Report: Malloy to unveil $150M in budget cuts

Report: Malloy to unveil $150M in budget cuts

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Gov. Dannel P. Malloy will reportedly announce at least $150 million in immediate budget cuts sometime this week, according to the Hartford Courant.

With the state facing a projected $365 million deficit for its 2013 fiscal year, which runs through the end of June, the Courant reported Malloy will unveil between $150 million to $160 million in cuts with the state legislature responsible for reaching another $200 million in cuts.

Roy Occhiogrosso, a senior advisor to Malloy, last week told the Business Journal that the governor “understands the challenges we face and is committed to meeting them head on.”

Occhiogrosso reiterated Malloy’s pledge that there would be no new tax increases in Malloy’s 2013-2014 budget proposal, which will be released early next year.

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