Politics & Government

Report: CT Having Trouble Paying its Bills

There's a $200 million deficit on top of other problems.


The state is at such a rapid rate that it's raising concerns among some officials that Connecticut may have to borrow money to fund its operating

In a recent report to the legislature's Finance, Revenue and Bonding Committee, State Treasurer Denise L. Nappier wrote that Connecticut's looming $200 million budget deficit has cause the funds in one account used to pay bills to drop "substantially."

The balance of the so-called "common pool," has dropped from $895 million last May to $121 million now, Nappier wrote. With the fund's depletion, she said in her report, and the state's overall spending trend "the need for temporary transfers or other resources is growing."

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Her report has sparked fears among some legislators that borrowing may be needed to help fund the state's operating budget, according to a report on the Connecticut Mirror website.


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