(Updated 1:02 p.m.) Connecticut lawmakers will return to the Capitol Monday afternoon to try and resolve the state’s estimated $467 million budget deficit.
While the legislature’s Democratic majority has yet to make anything official, sources say they will attempt to reduce the deficit by an estimated $111.8 million, but some quick math shows that number may be much lower. It looks like Democratic lawmakers are cutting about $12.4 million from the budget, sweeping about $23.15 million from special funds, and increasing revenue by about $80.4 million.
According to leaked documents, the delay in the scheduled reduction in the estate tax and an increase in federal reimbursements will bring in about $80.4 million in revenue.
Last week, Democratic lawmakers dismissed Rell’s mitigation plan saying it would cost the state 5,000 jobs, hurt municipalities, and increase health insurance payments for the poor and children.
Sources say Democratic lawmakers will take about $5 million from the Citizens Election Program, increase premium payments for some of the Husky B population, delay about $1 million in supportive housing starts, and take $2 million from Operation Fuel. The plan also restores about $10 million for stem cell research, while raiding $5 million from the Tobacco and Health Trust Fund. Most of the cuts to social services including the 5 percent reduction in Medicaid payments to doctors has also been restored. There is no borrowing included in the plan, but Democratic lawmakers may introduce a plan to bond $1 billion in debt service.
But it‘s unclear if Rell will be on board with the proposals.
“And when lawmakers do act, they must eliminate the deficit through real, lasting and achievable reductions in state spending,” Rell said last week. “I will not sign any legislation that attempts to reduce the deficit by increasing taxes or additional borrowing.”
