Connecticut state legislature votes to reduce budget deficit

Thu Dec 20, 2012 12:59am EST

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Dec 20 (Reuters) - The Connecticut state legislature approved a deficit mitigation plan in a special session late on Wednesday that would result in millions of dollars in spending cuts, according to the governor's office.

The House passed the measure 140-3 and the Senate voted 31-3, and it now goes to Governor Dannel Malloy for his signature.

The state's financial year started on July 1, 2012, and the overall budget is $20 billion. The gap was $365 million according to the governor's office, before Malloy ordered $170 million in cuts on Nov. 28.

Local media reports said the vote would now reduce the budget deficit by $252.3 million using a combination of $221.5 million in spending modifications and $30.8 million in revenue adjustments.

The deficit mitigation plan combined with the spending cuts announced earlier by the governor would cover nearly all of the $365 million deficit the Malloy administration is projecting.

According to media reports, hospitals took one of the biggest hits in the package adopted Wednesday, losing nearly $103 million.

"Since we had a lean budget to begin with, these cuts were painful, but necessary," Senate Majority Leader Martin Looney said.

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