Governor to meet with lawmakers about budget
Gov. Dannel Malloy will be meeting with state lawmakers on Wednesday morning to discuss how to fix a projected $5 billion deficit in the new two-year budget.
Posted — UpdatedIt's unclear if they'll be able to reach an agreement about the budget by the end of this month.
If there's no agreement, the governor will have to spell out his priorities about what's most important to fund. Now cities and towns across the state just want to know what the state will be giving them.
The pressure is on to reach an agreement on the new budget.
While the June 30 deadline looms, Malloy's budget director said there is some good news.
The current fiscal year deficit shrank to a projected $107 million shortfall since May.
This change is due to transferring revenue from various funds as well as improvements in state tax collection.
The governor told Eyewitness News the state's been in this position before and there are some options, such as using last year's budget but the state will still be facing a two billion-dollar deficit.
A key sticking point is union concessions.
The governor wants $1.5 billion in labor savings over two years, but the GOP wants more because the deficit is higher.
Under the governor's plan, he also creates a new tier of employees who will pay more towards their pension.
Malloy's meeting is set for 9:30 a.m.
Stay with Eyewitness News for continuing coverage.
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