Governor signs deficit-mitigation bill

Gov. M. Jodi Rell signed a bill late this afternoon that eliminates nearly 90 percent of this fiscal year’s $371 million budget deficit.

Rell’s signature came about 30 minutes after the Senate unanimously adopted the compromise measure. The House of Representatives adopted it 147-1 on Tuesday.

federal revenue and raids on special accounts and trust funds to trim $323.2 million off the deficit for this fiscal year, which ends on June 30.

In an effort to reach compromise with the Republican governor, the Democrat-controlled legislature left earlier proposals to boost the tax on multi-million-dollar-estates and to levy a 5.5 percent tax on hospital gross revenues out of the measure.

But Democratic leaders also said this proposals likely would be revisited as they try to balance next fiscal year’s budget.