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Connecticut Budget Deficit Comes In Significantly Reduced

Conn. Gov. Ned Lamont
Jessica Hill
/
AP
Conn. Gov. Ned Lamont

An increase in tax collections and other budget related savings have helped reduce Connecticut’s projected budget deficit by nearly 40 percent.

That’s according to Governor Ned Lamont’s budget office in a report this week. The office projects a revised $1.3 billion deficit.

Officials credit better than expected estimated tax payments, more revenue from the sales tax and higher withholding taxes as some of the reasons for the improved outlook for the current budget year that ends on June 30.

Budget director Melissa McCaw cautions that Connecticut could face “significant” budget challenges in the months ahead as the state braces for an expected second wave of COVID-19.

Bill began his radio journey on Long Island, followed by stops in Schenectady, Bridgeport, Boston and New York City. He’s glad to be back on the air in Fairfield County, where he has lived with his wife and two sons for more than 20 years.