Lamont’s budget office has projected estimated deficits of $500 million in the current fiscal year that ends on June 30, and $1.4 billion for the next fiscal year, due to the toll COVID-19 is taking on the economy. The state, however, has a rainy day fund of $2.5 billion that could be used to help plug those gaps. In addition, money from the federal government could be used to improve the situation. The state expects to receive at least $1.4 billion to cover expenses related to the coronavirus, but Congress has called for additional legislation to stimulate the economy.