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Lamont lays out deficit mitigation plan; Fasano calls it ‘dangerous and...

State statute requires that when the comptroller certifies a shortfall in the General Fund in excess of 1%, the governor musts present lawmakers with a deficit mitigation plan within one month "to modify such allotments to the extent necessary to prevent a deficit."

Connecticut’s rainy day fund is helping state stay afloat – but...

Justin Theal, an officer with The Pew Charitable Trusts’ State Fiscal Health team, calls Connecticut “one of the most financially secure states going into the recession.”

COVID-19 LATEST: Hospitalizations continue to decrease, but deaths up by 125

A continued decline in COVID-19-related hospitalizations is giving hope that the state is on the downside of the coronavirus curve, Gov. Ned Lamont said today, even as positive cases rose by over 800 and another 125 deaths were recorded.

CT revenues projected to be stable, rainy day fund to grow...

Meanwhile, the state’s budget deficit is projected to grow from about $28 million to roughly $60 million, due in part to its recent settlement with state hospitals.

CT Comptroller Lembo projects $31.6M budget deficit for FY 2020

The comptroller insisted the state "must maintain financial discipline."

Connecticut income tax receipts surpass projections by $900M

“We still need to take steps to close the deficit this year and to avoid one in the (fiscal) year that starts in July,” Gov. Dannel P. Malloy said.

Surprise! Connecticut may have ended fiscal year in the black

If the surplus is ultimately confirmed, Connecticut would avoid tapping into its budget reserve for the first time in three years.

Connecticut comptroller forecasts $325 million state deficit

In a letter to the governor, Kevin Lembo said that his deficit projection is slightly higher than the deficit reported by the Office of Policy and Management.

State facing $500 million-plus revenue deficit over next two years

New revenue erosion and higher pension costs could increase projected budget deficits to $1.5 billion next fiscal year and $1.74 billion in 2018-19.

Lembo: Connecticut facing $42 million deficit at end of fiscal year

The figure is significantly higher than the $5.7 million deficit recently projected by Policy and Management Secretary Benjamin Barnes.

Comptroller reports slight improvement in state deficit

Kevin Lembo said that erratic reports on job and wage growth – both locally and nationally – have complicated the forecasting process.

State ends fiscal year with $315.8 million deficit

Comptroller Kevin Lembo said the budget reserve fund should be enough to offset the general fund shortfall.

Legislators consider digital products tax

Connecticut lawmakers are considering a bill to increase taxes on digital products such as e-books, mobile apps and MP3 files.

CBIA continues to push legislative agenda

After releasing its 2013 legislative agenda earlier this month, the Connecticut Business and Industry Association released another report last week outlining a series of fiscal policy reforms it recommends state legislators adopt.

Focus on jobs as group calls for fiscal belt-tightening

Addressing the state’s progress over the last two years when it comes to job creation, energy, education and the state’s budget deficit, Gov. Dannel P. Malloy said the state is off to a strong start – but it’s only the start.