December 7, 2012

CT lawmakers plan session to deal with deficit

The Connecticut House of Representatives is planning a special session Dec. 19 to deal with the state's budget deficit, The Associated Press reports.

The special session comes after Gov. Dannel P. Malloy authorized $550 million in temporary lines of credit at the request of the state treasurer in case the state needs cash to pay its bills.

State Treasurer Denise Nappier says state government is facing reduced cash levels and obtaining credit lines is a precautionary measure. Malloy's authorization doesn't mean money from the credit lines will be used.

State Comptroller Kevin Lembo is projecting a $415 million deficit in this year's $20 billion state budget. The shortfall estimate is $50 million higher than the one by the Malloy administration.

Republican lawmakers say they're against borrowing money to pay operating expenses.

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