Gov. Ned Lamont recommends tapping 60% of the record-setting budget reserve to cover most of a $2 billion budget deficit.
Don’t expect to see Gov. Ned Lamont propose big tax hikes or huge spending cuts to close a $2B deficit.
Comptroller Kevin P. Lembo made it official Friday: In a letter to Gov. Dannel P. Malloy, the comptroller says the state is on pace for a $207.8 million deficit that exceeds the one-percent threshold requiring the administration to prepare a deficit-mitigation plan. The Malloy administration made a similar prediction last month.
Gov. Dannel P. Malloy’s administration released details late Wednesday on how state agencies will share the new spending reductions ordered by the legislature in a December special session.