Comptroller Sees $240 Million Surplus

HARTFORD (AP) — Comptroller Nancy Wyman said Tuesday that the state budget surplus is estimated to reach $240.1 million, fueled by strong revenues from Connecticut’s income and sales taxes.

The projection is up almost $113 million over last month’s estimate.

“There were indications earlier in the year that the economy would expand more slowly in the short term, but those concerns have all but diminished,” Wyman said.

“It seems likely that we will continue to see solid economic growth that will result in rising revenues in the second half of the fiscal year,” she said.

Combined, the income and sales taxes are expected to generate about $7 billion by the end of the fiscal year, which closes June 30.