Gov. Raimondo signs $8.9 billion budget

June 24, 2016 1:57 pm

By: The Associated Press

news@abc6.com

PROVIDENCE, R.I. (AP) _ Rhode Island Gov. Gina Raimondo has signed into law the state’s $8.94 billion budget, saying it reduces a structural deficit and makes record investments in education and workforce development.

The Democrat was joined by legislative leaders for a Friday signing ceremony.

She says the budget approved by the state’s Democrat-controlled General Assembly will spur economic growth.

The spending plan that takes effect on July 1 will cut business taxes, expand economic development tools, provide tax relief to retirees, combat the opioid overdose crisis and raise the earned income tax credit for low-income families.

It doesn’t include any broad-based tax increases. There will be a new tax on medical marijuana, but scaled back from one originally proposed by Raimondo.

The budget plan also cuts the cost of parking at state beaches.