Gov. Dannel P. Malloy signed a controversial $19 billion budget Friday for the fiscal year that begins July 1.
The governor touted new funding for pre-kindergarten programs, municipal aid and public colleges and universities in a budget that boosts spending just 2.5 percent without raising taxes.
“I think there is much in the budget we’re proud of,” Malloy said.
But that package relies on about $200 million in fund sweeps, risky savings and revenue assumptions – including the last-minute discovery of $75 million in “miscellaneous” tax receipts.
Nonpartisan fiscal analysts are projecting a $1.33 billion deficit in the first state budget after the election, a gap of more than 7 percent.
Create more CT Mirror journalism.
The Connecticut Mirror is a nonprofit newsroom. 88% of our revenue comes from readers like you. If you value our reporting please consider making a donation. You'll enjoy reading CT Mirror even more knowing you publish it.
The new budget also delays planned tax cuts for teachers and consumers and cancels the launch of keno gaming.
More STORIES in BUDGET/ECONOMY
Want more in-depth Connecticut reporting?
Get CT Mirror briefings with enterprise reporting, investigations and more in your inbox daily.
Free to Read. Not Free to Produce.
The Connecticut Mirror is a nonprofit newsroom. 88% of our revenue comes from readers like you. If you value our reporting please consider making a donation. You'll enjoy reading CT Mirror even more knowing you publish it.