- Associated Press - Friday, May 1, 2015

HARTFORD, Conn. (AP) - State Comptroller Kevin Lembo says Connecticut’s main spending account will end the fiscal year with a $161.7 million deficit.

Lembo released his latest deficit projection Friday. It comes after Gov. Dannel P. Malloy ordered a third round of mid-year cuts April 1. It also accounts for updated revenue estimates agreed upon by Malloy’s budget office and the legislature’s Office of Fiscal Analysis.

Lembo says the largest budget shortfalls for the year ending June 30 are from less-than-expected revenues from federal grants and health provider and income taxes. Sales and corporation tax revenues increased.

Malloy’s budget chief, Ben Barnes, says the Democratic administration will “take appropriate action” over the next two months to balance the budget. Senate Republicans leader Len Fasano has called on Malloy to outline how he’ll accomplish that.

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