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Posted inMoney, Politics

Outgoing CT budget springs another leak, could threaten next year’s as well

Less than one month after Gov. Dannel P. Malloy and legislators closed a $220 million deficit in the budget that ends June 30, eroding tax receipts helped punch a new $141 million hole in finances, the administration reported late Wednesday. The last-minute shortfall in the outgoing budget threatens to intensify a bitter, fight over how to balance the next state financial plan.

Posted inMoney, Politics

Malloy cools rhetoric, but stalemate continues on budget

Gov. Dannel P. Malloy struck a conciliatory tone Tuesday a day after House Speaker J. Brendan Sharkey likened his latest budget proposal to “a personal hit list,” conceding legislative leaders have a difficult task building a consensus around deep spending cuts. But the governor remained at odds with the Democratic legislative majority leadership over how to close a $930 million budget gap before the session ends May 4.