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Governor Gina Raimondo on Thursday touted her $8.6 billion budget for the fiscal year starting July 1 as a plan that will begin the rejuvenation of Rhode Island's economy.
At the same time, some parts of the spending plan rely on uncertainties, including $46 million in unspecified Medicaid savings and the wiping out of millions of dollars in un-budgeted pay hikes promised to state employees during the Chafee administration.
Gov. Gina Raimondo is scheduled to deliver her first State of The State address tonight. The address will give Rhode Islanders their first look at the governor’s spending priorities for the coming fiscal year.
Rhode Island faces a big financial gap as Governor Gina Raimondo prepares to unveil her first budget Thursday. State law requires a balanced spending plan, and Raimondo has pledged to improve Rhode Island’s economy while wiping out the red ink. But that will be no easy task.
Governor Gina Raimondo outlined a series of troubling indicators Wednesday to underscore her argument that adding jobs -- rather than cutting spending or raising taxes -- is the only way to heal Rhode Island's under-performing economy.
House Speaker Nicholas Mattiello reacted coolly Monday to a proposal by state Representative Daniel Reilly (R-Portsmouth) that would create an inspector general, as a way of rooting out waste and mismanagement in Rhode Island's almost $9 billion annual budget.
Brown University has raised tuition for the coming school year by 4.4 percent. A year of undergraduate tuition and fees at Brown will now top $62,000.
The Brown Corporation made the decision at its annual winter meeting over the weekend. The corporation also approved an 8 percent increase in financial aid spending to help offset the tuition increase.
Brown's 2016 budget includes a $4.4 million dollar operating deficit, which will be covered by university reserves. This is the third year in a row that Brown has operated with a deficit.