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"Lower income earners are still struggling," said Lembo.
“Positive economic signs, both nationally and here in Connecticut, are cause for optimism,” he said.
The Lamont administration is predicting a $2.1 billion deficit for FY21, which began on July 1, and a $3.5 billion deficit for fiscal 2022 and 2023.
Lembo cautioned the forecast "should be treated with cautious optimism."
Lembo stated that his forecast represented "an $87.9 million improvement from last month's estimate."
If the surplus is ultimately confirmed, Connecticut would avoid tapping into its budget reserve for the first time in three years.