The last budget crafted by former Gov. Lincoln Chafee’s administration and the General Assembly seems to be holding up fairly well, according to the latest revenue assessment by the Rhode Island Department of Revenue.
The official state bean-counters say that adjusted total general revenues are up about $61 million more than expected in the current budget year, which ends on June 30. This is good news for a state that has been slowly emerging from the recession.
The 2.6 percent increase in revenues is fueled by increases in the personal income tax and the corporate tax.
Some good news from the Rhode Island Department of Revenue: The latest budget numbers from state government show state revenues up nearly $50 million ahead of projections.
Rosemary Gallogly, the outgoing director of revenue, said in a statement that year-to-date revenues are up about $47 million above the estimates.
The revenue growth has been fueled largely by an increase in personal income tax money. That could be a sign that the economy is gaining traction as Rhode Island’s slow recovery from the recession picks up steam.
More than 75 Rhode Islanders packed a small meeting room at the Peacedale Public Library Monday, to share their suggestions for improving Medicaid while cutting costs. It was one in a series of town hall meetings held by the task force charged with finding $90 million dollars in savings in the program. Nurse Patricia Mackie told organizers how meeting a client’s basic needs first can help prevent expensive hospital stays.
“Cash to pay for prescriptions, clothing, furniture from the furniture bank, finding him an apartment.”
Gov. Gina Raimondo joins RIPR Political Roundtable tomorrow for a discussion of her first budget and other topics. She talks about the Taylor Swift tax, the Medicaid cuts, the medical insurance tax, her economic development proposals, thePawSox move and more. Tune in tomorrow morning for Political Roundtable and Bonus Q &A with the governor and panelists Ian Donnis, Scott MacKay and Maureen Moakley. If you miss it, the entire interview with be posted at RIPR.org
Gov. Gina Raimondo’s first budget proposes stripping about $2.5 million in state Payments-in-lieu of Taxes aid from Providence city government and another $1.1 million in such payments from Cranston. If you believe the General Assembly is going to allow these cuts you probably believe in the Easter Bunny.
Raimondo’s problem: The communities being hit on this one happen to be home to two of the most influential state lawmakers –House Speaker Nick Mattiello, D-Cranston, and House Majority Leader John DeSimone, D-Providence.