(PROVIDENCE, RI) Gov. Lincoln Chafee won positive reviews Wednesday night for a state budget with no new taxes and a reduction in the corporate tax. The governor’s spending plan also includes more money for education and creating jobs.
Chafee’s budget for the fiscal year starting July 1st takes a different approach from his last two spending plans. Rather than proposing new taxes, the governor defended a decision to cut the corporate tax from nine to seven percent over three years. He says doing that makes sense even though money for social services remains tight.