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Connecticut lawmakers vote to close $1 billion budget hole
Source: Reuters
World | Fri May 13, 2016 10:00pm EDT
Connecticut lawmakers vote to close $1 billion budget hole
Connecticut's lawmakers moved to close a projected budget deficit of nearly $1 billion on Friday, the last hurdle for a spending plan that now passes to the governor for signing before the start of the fiscal year on July 1.
House lawmakers passed the $19.7 billion austerity budget for the 2016-2017 fiscal year late on Friday evening after the contentious bill passed the state Senate a day earlier. Democrats control both chambers of the legislature.
"It's never easy to make cuts that reduce services and impact families," said House speaker Brendan Sharkey. "We were able to pass a budget that closed the deficit without raising taxes, borrowing or tapping into the rainy day fund."
Governor Dannel Malloy, also a Democrat, is expected to sign the bill into law in coming weeks.
[font size=1]-snip-[/font]
The budget makes about $820 million in recurring cuts and diverts $100 million from transportation and municipal revenue sharing funds. The spending plan closes a projected $960 million deficit next year.
[font size=1]-snip-[/font]
Connecticut lawmakers vote to close $1 billion budget hole
Connecticut's lawmakers moved to close a projected budget deficit of nearly $1 billion on Friday, the last hurdle for a spending plan that now passes to the governor for signing before the start of the fiscal year on July 1.
House lawmakers passed the $19.7 billion austerity budget for the 2016-2017 fiscal year late on Friday evening after the contentious bill passed the state Senate a day earlier. Democrats control both chambers of the legislature.
"It's never easy to make cuts that reduce services and impact families," said House speaker Brendan Sharkey. "We were able to pass a budget that closed the deficit without raising taxes, borrowing or tapping into the rainy day fund."
Governor Dannel Malloy, also a Democrat, is expected to sign the bill into law in coming weeks.
[font size=1]-snip-[/font]
The budget makes about $820 million in recurring cuts and diverts $100 million from transportation and municipal revenue sharing funds. The spending plan closes a projected $960 million deficit next year.
[font size=1]-snip-[/font]
Read more: http://www.reuters.com/article/us-connecticut-budget-idUSKCN0Y501R
