Keith Phaneuf
Keith Phaneuf
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Surging tax receipts take a huge chunk out of state's projected budget deficit CT's projected budget deficit nearly cut in half by surging tax receipts

Surging tax receipts take a huge chunk out of state's projected budget deficit CT's projected budget deficit nearly cut in half by surging tax receipts

LET�S GET SOCIALShow your love for great stories and out standing journalismConnecticut got a shot of good fiscal news Tuesday as surging tax receipts helped to lop nearly 40% off the state’s projected $2 billion deficit, increasing the likelihood Gov. Ned Lamont can avert major tax hikes next spring.The surging revenues also give lawmakers more money to assist public universities and others hurt financially by the pandemic.“Despite the COVID pandemic, the U.S. stock market is 14.0% higher than a year ago,” Office of Policy and Management Secretary Melissa McCaw, Lamont’s budget director,...

October 20, 2020
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