Gov. M. Jodi Rell plans to meet with legislative leaders on Monday to discuss how to cover next fiscal year’s $730 million deficit, The Associated Press reports.
Rell, a Republican, says she plans to unveil her own proposal, which does not include any tax increases, during the closed-door meeting. The GOP has already offered a plan.
The get-together comes days after the Democratic-controlled General Assembly overwhelmingly passed a plan to cover the current year’s $500 million deficit.
Time is quickly running out on reaching an agreement to balance next fiscal year, which begins July 1. The legislative session adjourns May 5.
Lawmakers also need to reach an agreement with Rell on which future revenue streams, such as Keno or the lottery, to borrow against to raise money to fill a $1.3 billion hole.
