Office of Policy & Management

Majority Democratic lawmakers, who've flinched at — but not ruled out — tax proposals that fall heaviest on the poor and middle class, face a watershed moment in the next two weeks.

Major changes are impacting the state's controversial "death tax." Find out how new estate and gift tax exemption levels will save the state's wealthiest residents big money.

The projected Connecticut state budget deficit grew another $41 million in the past 11 days, as the Office of Policy & Management now predicts a $161.7 million shortfall.

The Malloy administration faced many difficult decisions in putting together its two-year, $40 billion budget, but one of the most significant was predicting tax revenues.

The Office of Policy & Management admitted Tuesday it miscalculated the spending cap for Gov. Dannel P. Malloy's proposed budget and now the governor and his team have to find another $54 million to cut in the first year of the two-year, $40 billion budget.

The Connecticut Office of Policy & Management and the Office of Fiscal Analysis issued estimates on Friday showing state tax revenue is $52.7 million behind what was anticipated when the budget passed in 2011.