Rhode Island Senate Finance Committee approves $14.3 billion budget

PROVIDENCE, R.I. (WLNE) — The Rhode Island Senate Finance Committee has approved the state’s budget for fiscal year 2026.

But there are some draw backs for some state agencies.

The $14.3 billion spending plan includes money to protect Medicaid and address other high profile healthcare needs in the state.

The budget also aims to address homelessness, transportation issues and child care.

It will now head to the full senate, which is expected to vote on it Friday.

The new fiscal year starts on July 1.

Officials at the Rhode Island public transit authority will have to make cuts under the house’s new budget.

The transit agency originally faced a $32 million budget gap, but amendments to the bill brought that down to $18 million.

That means RIPTA will have to cut 90 jobs and 20 percent of its routes, leaving some Rhode Islanders without a way to get around.

Lawmakers did say no cuts will be made to “door to door” service for passengers with disabilities.

Meanwhile, a bill to raise the state minimum wage is awaiting the governor’s signature.

The bill, approved by the general assembly Wednesday, raises the wage from $15 to $17 over the next two years.

This schedule is concurrent with the last minimum wage increase, which went into effect this January.