Malloy to unveil new two-year Conn. budget

AP Modified

Updated: Feb 4, 2013 5:56 AM

HARTFORD, Conn. (AP) — Gov. Dannel P. Malloy is unveiling the details of his second two-year budget, which he says will not increase taxes and will be balanced despite a projected deficit.

The Democrat is scheduled to address a joint session of the General Assembly on Wednesday.

Malloy has already released some budget details, including an additional $14.1 million over two years to help low-performing school.

He has also proposed a $1.5 billion, 10-year plan to boost science, technology and engineering at the University of Connecticut, and a $200 million, 10-year fund to help attract more bioscience companies and jobs to the state. Borrowed money, or bonding, will be used to help pay for both initiatives.

Lawmakers and Malloy have until the legislature's June 5 adjournment date to reach a final budget agreement.

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