$172.8M budget deficit just shy of trigger

HARTFORD, Conn. – The 2015 state budget deficit is just shy of an amount that would require Gov. Dannel P. Malloy to submit a deficit mitigation plan to the General Assembly, state Comptroller Kevin Lembo said Wednesday.

Lembo certified the state would end the fiscal year with a $172.8 million deficit, which is $3.2 million short of the one percent in total appropriations necessary to trigger a mandatory deficit mitigation. He said the deficit is $40 million greater than the Malloy administration predicted on March 20.

“Because my current estimate is so close to the mitigation trigger and only three months remain in the fiscal year, I recommend that deficit reduction planning with the legislature should proceed without delay,” Lembo wrote in his monthly letter to Malloy.

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