The Rhode Island House of Representations is set to begin debating Tuesday an 8-billion-dollar budget for the fiscal year starting July first. The budget includes two and a half million dollars to repay bonds for failed video game maker 38 Studios.
All six Republican state reps plan to oppose the effort to repay the 38 Studios bonds. House GOP leader Brian Newberry says it would cheaper to not repay the moral obligation bonds, even if Rhode Island’s credit rating takes a hit. Yet it’s unclear how many of the 69 Democrats in the House will join Republican lawmakers in opposing repayment.
The budget passed last week by the House Finance Committee includes millions of dollars in new educational aid. The spending plan also cuts an increase in financial help for cities and towns.
The budget debate traditionally starts in the afternoon and ends in the wee hours of the morning. Despite the length of the session, surprises are rare due to Democrats’ overwhelming control of the General Assembly.
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