budget deficit

Keno may soon be legal in Connecticut. It’s a lottery-like electronic game, and lawmakers say it could bring in between $30 and $60 million a year in state revenue. The state faces a projected deficit of more than a billion dollars a year.

Governor Dannel Malloy wants lawmakers to call a special session to re-examine taxes in the budget. Once Malloy signs the budget into law, residents could expect to see Keno within six months.

Despite an improving economy, Connecticut could be facing budget deficits of more than $1 billion over the next three years.

Gov. Dannel Malloy’s budget office and the General Assembly’s non-partisan Office of Fiscal Analysis told lawmakers this on Friday.

“Employment is increasing, our income is rising, retail sales are growing, and the economy is on the rebound,” Karen Buffkin, of the governor’s budget office, explained to members of the Appropriations Committee.

AP Photo/Jim Cole

Connecticut Democratic Governor Dannel Malloy announced on Tuesday that the state ended its fiscal year in June with a $121.3 million budget surplus. The surplus is now nearly four times what the Malloy administration had projected just a month ago.

The Stamford Board of Finance voted 5-1 Tuesday night to approve an 11th-hour appropriation for $2.1M for a projected shortfall in several departments including police and fire. That's not before board members chastised the Martin Administration and this year's budgetary process for not keeping the body better informed of the projections.