HARTFORD, Conn. – Nonpartisan legislative analysts and Gov. Dannel P. Malloy’s budget office agreed Thursday that revenue dropped $67 million below expectations between January and April, adding to this year’s budget deficit.
The increase in tax revenue anticipated following the April 15 deadline wasn’t realized, according to budget analysts. In fact, personal income tax collections fell $65.5 million short of projections.
Office of Policy and Management Secretary Ben Barnes had forecast 25 percent growth in personal income tax receipts.
See the complete story at CT News Junkie.
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