The Real Story – Billion dollar budget deficit

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HARTFORD -- When Connecticut lawmakers return to the Capitol in January, they'll find less money than first expected.

New revenue estimates for the upcoming two-year state budget show the state's main spending account, the general fund, can expect about $208 million less in fiscal year 2017-18 and about $297 million less in fiscal year 2018-18.

Connecticut operates on two-year budget cycles. The new fiscal year begins July 1.

Senate Minority Leader Len Fasano, a Republican from North Haven, says lawmakers cannot wait until the new legislative session in January to address the state's budget challenges.

A spokesman for Democratic Gov. Dannel P. Malloy's budget office says state revenues are actually growing, "albeit slowly." Chris McClure says the administration will present lawmakers with details about the state's budget challenges next week.

Guest:  Rep. Tony Guerrera (D) Rocky Hill, Co-Chair, Transportation Committee