CT tax revenue in free fall, adding $1.1B in red ink for next 2 years

Plummeting state income tax collections are experiencing their worst decline since the last recession, falling $450 million below anticipated levels for April — one-and-a-half times the free fall projected just one day ago. That adds $1.1 billion to an already daunting $3.6 billion deficit forecast, all but shattering hopes of avoiding tax increases or big municipal aid reductions in the next budget.

http://www.hartfordbusiness.com/article/20170427/NEWS01/170429927

Share This Article: