Rhode Island Gov. Donald Carcieri last week called on the General Assembly to grant him the power to withhold state appropriations from towns and cities as part of a plan to find budget savings.

“In these extraordinary times, I need the flexibility to withhold appropriations to properly manage the execution of the budget,” Carcieri said in a release. “Over the past several years, framed by two recessions, the state has faced difficult budgets, resulting in nearly one billion in lost revenue over the past two years.”

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.