NEW YORK Feb 20 Connecticut Governor Jodi Rell
on Friday said her budget office has increased its estimate for
the state's deficit for the current fiscal year to about $944
million, up about $22 million from a month ago.
Rell's Office of Policy and Management, which is her budget
office, pointed to an overall drop in tax collections of more
than $73 million as a key reason for the widening of the
Rell said that the decrease in sales and real estate tax
collections will cause a decline in revenue of about $150
million over the next two years.
On Thursday, the governor proposed a further round of
spending and other cost reduction measures to shrink the
state's deficit for the year to June 30 by $1.1 billion. For
more details, see [ID:nN19384075]
(Reporting by Tom Ryan; editing by Gary Crosse)