HARTFORD -- New revenue state estimates show Connecticut's budget deficit problems continue to worsen.
The current fiscal year is now projected to end June 30 with an approximate $389.8 million shortfall while the following two fiscal years are now predicted to have deficits of $2.3 billion and $2.7 billion respectively.
The estimates were released Monday by the budget offices for the General Assembly and Gov. Dannel Malloy.
The governor's budget director says the "precipitous drop in revenue" creates "major challenges for the state" throughout the remainder of the current fiscal year and for the following two-year budget, which Malloy and state lawmakers still need to negotiate.
Meanwhile, Senate Democrats are proposing holding open budget negotiations, calling for the public to participate in the process.
In a letter to Gov. Malloy, and both House and Senate leaders from both parties, the Senate Democrats Monday proposed holding budget talks that will be televised on CTN, managed and operated by the Connecticut Public Affairs Network, a non-profit company committed to strengthening civic engagement by providing comprehensive and unbiased educational programming and outreach on state government, civics and citizenship.
"We believe that it is critically important that Connecticut's citizens have confidence in the budget process," the letter states. "As we are faced with significant additional revenue shortfalls, all prior budget discussions and proposals have now been superseded by new information."
"Rather than enduring a month or perhaps several months of dueling news conferences, debating whose contingent, work-in-progress budget is most legitimate, competitive spin, and strategic or retaliatory leaks, let us take a new, more straightforward, unencumbered approach to our budget challenge," the letter suggests.
Malloy is scheduled to meet privately Tuesday with lawmakers.
The Associated Press contributed to this report.