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COVID-19 Crisis Could Cost Connecticut Billions, Lamont Says COVID-19 Crisis Could Cost Connecticut Billions, Lamont Says
Covid-19 Crisis Could Cost Connecticut Billions, Lamont Says The novel coronavirus (COVID-19) outbreak could wind up costing Connecticut billions of dollars and wiping out the state’s rainy day fund. Calling the numbers “sobering,” Connecticut Gov. Ned Lamont previously said that Connecticut will end the fiscal year with a $1 billion budget shortfall, with the number potentially doubling over the next cycle, which begins in July. Budget numbers released by the Office of Fiscal Analysis show Connecticut’s budget deficit this year grew to over $1 billion, an increase of more than $687 million over the previous estimate. Sales tax revenue dro…

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by Zak Failla