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8:33 am
Wed July 6, 2011

Providence close to closing budget deficit

PROVIDENCE, RI – Providence Mayor Angel Taveras says he's optimistic the city will succeed in closing its current 110 million dollar deficit.

Providence has already closed most of the deficit, in part through contract concessions from firefighters, police, and other city employees. More help came from a bill allowing Providence to shift some retiree healthcare costs to Medicare. All this has Taveras feeling encouraged.

"We feel very good about where we are and very optimistic," he says. "The General Assembly was tremendously helpful to us, and I'm very grateful to the speaker and to the other leadership in the General Assembly for all of their help."

The city is still seeking more contributions from tax-exempt institutions and a money-saving deal with the Providence Teachers Union. The City Council is expected to finish voting on the budget within the next two weeks.

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