Dramatically eroding CT income tax receipts complicate budget debate

Updated at 7:10 p.m.
New reports show dramatically eroding state income tax receipts that could expand the deficit in the next two-year budget by more than $500 million while depleting existing reserves. Although six more days remain before analysts complete their review of April income tax receipts, the new numbers also raise the prospect state government may have to borrow to balance the current budget. Continue Reading →