The General Assembly adopted a $19 billion budget early Sunday that relies on about $200 million in fund sweeps and risky savings and revenues assumptions to stay in balance – including the last-minute discovery of $75 million in “miscellaneous” tax receipts.
One week after a $70 million hole was uncovered in Gov. Dannel P. Malloy’s budget proposal for 2014-15, the legislature’s Appropriations Committee is set to make revisions increasing spending for social services, while using surplus funds to close the budget gap.
Updated at 2:02 p.m.: Gov. Dannel P. Malloy offered a $19 billion budget Wednesday that — among many other proposals — would give tax breaks to middle-income households, consumers and towns while limiting spending growth to just under 3 percent.