The Associated Press June 3, 2010, 11:51AM ET

Wyman: Conn. will have $167 million surplus

Connecticut Comptroller Nancy Wyman says unexpectedly good job and tax revenue growth have swelled the 2010 state budget surplus to nearly $167 million.

Wyman released a new surplus estimate Tuesday that's about $62 million higher than last month's projection. The 2010 fiscal year ends June 30.

Wyman says most experts weren't expecting any job growth this year, but the state has recently regained 8,900 of the 103,400 jobs it lost during the recession.

Income tax receipts are now about 3 percent above estimates, after having been 6 percent below expectations in January.

But Connecticut authorities are predicting budget deficits of $3.8 billion for the 2012 fiscal year, with Wyman saying a full economic recovery is still a long way away.


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