State Deficit Put at $911 Million
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Connecticut's deficit dropped sligthly last month, according to new figures from the state comptroller's office. Though the fiscal year ended June 30, some tax revenues for the year will continue to come in through the end of July, and a final deficit figure isn't expected until September.
Comptroller Nancy Wyman says the deficit figure now stands at about $911 million. She says action by the General Assembly passing deficit mitigation measures helped offset a $15 million drop in tax revenue.
For the year, the sales tax is now expected to bring in about $420 million less than projected. Corporation profits taxes are expected to be down about $200 million -- or more than a quarter of what had been projected.
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