NEW YORK (Reuters) – Connecticut Governor Dannel Malloy took control of the state’s spending on Friday after lawmakers failed to pass a budget before a July 1 deadline amid discord over how to close a $5.1 billion shortfall over the next two years.
Connecticut, which has one of the lowest credit ratings of all U.S. states despite being one of the wealthiest by personal income, will continue operations under an emergency executive order signed in Hartford by Malloy, a Democrat.
(Reporting by Hilary Russ; Editing by Daniel Bases and Leslie Adler)
