new york connecticut governor sign wednesday legislation close 220 million budget gap end fiscal year june 30 state battle fiscal crisis set worsen next year project budget deficit nearly billion bill receive bi-partisan support come top series budget cut current fiscal year revenue projections fail meet projections fact officials blame partly weak capital gain tax receipt administration governor dannel malloy democrat fight fire around budget year indications fiscal situation worsen get good one report predict deficit could high 900 million next fiscal year last month connecticut cancel pay increase almost 2,000 managers state agencies raise postpone twice freeze indefinitely officials say reductions staff number months ahead amount connecticut pay borrow rise relation municipal bond market borrowers sign investors see great risk connecticut pay 0.58 percentage point top-rated muni bond issuers borrow 10 years 0.3 percentage point last year connecticut high investment grade rat major rat agencies although moody aa3 standard poor aa negative outlook state fitch rat connecticut aa stable outlook connecticut governor sign bill close 220 million budget gap