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“Completing payment on the Economic Recovery Notes closes a regrettable chapter in Connecticut’s financial history,” Gov. Dannel Malloy said.
Senate Republican President Pro Tempore Len Fasano and Gov. Dannel Malloy's office are engaged in a war of words about the situation.
The bill implements changes in the structure of the controversial hospital tax, among other things.
“These numbers are disappointing but not unexpected," said Senate President Pro Tempore Martin M. Looney and Senate Republican President Pro Tempore Len Fasano in a joint statement.
Topping the bill: Revising language surrounding the hospital tax.
Pending regulatory approval, the project -- designed to provide a more environmentally friendly and cost-effective energy source -- is expected to begin construction in the second quarter of 2018.
Meanwhile, Comptroller Kevin Lembo said that, based on revenue and spending through Sept. 30, the state remained on track to end the current fiscal year with a $93.9 million deficit.
Still at issue: the hospital tax.
The vote apparently brings to an end a budget impasse that has lasted for 118 days, the longest such stalemate in the state’s history.
It now goes to the House, where it is also expected to pass by a majority, later today.
The governor, who vetoed a GOP-sponsored budget last month, said he would not comment on the latest effort until he had had a chance to read it.
The latest proposal eliminates numerous tax increases, cuts additional spending and focuses on structural changes and language that the governor said is necessary to implement the biennial budget.
It's the third consecutive year that the state has finished in the red.
Democratic and Republican legislators remain "hundreds of millions of dollars" apart from solving the budget impasse, the governor said.
In light of a likely defeat of a proposed override of Gov. Malloy's veto, the House adjourned without voting on the issue.