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Minus budget, Connecticut officially in the red

The government will transfer $94 million from the Municipal Revenue Sharing Account, funded by one-half percent of the state sales tax, to offset the projected shortfall.

Malloy budget address seeks to narrow $1.7 billion gap

Malloy offered up $1.36 billion in new spending reductions and is seeking $700 million in annual state employee labor savings.

Conn. Advocacy Group: Use $7.2 billion in tax expenditures for deficit

The group recommends public hearings on how to best use the money.

Deficit projections shrink by $40 million

Comptroller Kevin Lembo on April 1 projected a $91.3 million state deficit for the end of the 2013 fiscal year, a $40 million decrease from his last projection.

State deficit projected at $40M following mitigation

Following Gov. Dannel P. Malloy's budget reductions and the Legislature's deficit mitigation bill, Comptroller Kevin Lembo has projected a state budget deficit of $40 million for the 2013 fiscal year.