Rhode Island House panel to take up budget plan - ABC6 - Providence, RI and New Bedford, MA News, Weather

Rhode Island House panel to take up budget plan

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by News Staff


The Associated Press

House leaders are set to unveil a budget proposal that's expected to cut Rhode Island's corporate tax rate, cover the next 38 Studios bond payment and close a $67 million shortfall.

The Finance Committee plans to debate and vote on the blueprint Thursday evening.      
Speaker Nicholas Mattiello said this week the House and Senate were fine-tuning some details of the plan but were near an agreement.
Gov. Lincoln Chafee in January proposed an $8.5 billion budget that substantially increases education spending and leaves tax rates unchanged.

It also authorizes over $50 million in new historic tax credits and calls for significant investments in the arts and the environment that would need voter approval.
Once the committee endorses the proposal, it would go to a floor vote, likely next week. 

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