Comptroller: State facing $350M deficit, despite projection

Connecticut State Comptroller Kevin Lembo (Image: osc.ct.gov)

HARTFORD, Conn. (AP) — State Comptroller Kevin Lembo says he agrees with Connecticut lawmakers about needing to find $350 million to $370 million in savings this fiscal year, given what he calls troubling economic trends facing the state.

Lembo announced Tuesday what he said was a $122.4 million deficit for the state’s current $20 billion budget, but said $350 million is a “reasonable deficit mitigation target.”

Lembo said he’s concerned about the last two consecutive months of state job losses and the negative impact on the withholding portion of the state income tax.

Gov. Dannel P. Malloy and a bipartisan group of legislative leaders are scheduled to meet Tuesday for more closed-door talks on how to cover this year’s shortfall. They hope to hold a special legislative session on the budget in early December.

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