Rhode Island Rebound: Gov. McKee submits plan to invest federal funds into RI families, workers, small businesses
PROVIDENCE, R.I. (WLNE)- Governor Dan McKee officially summitted a plan for immediate investments into Rhode Island’s families, workers, and small businesses Thursday.
“Rhode Island is the only state in the northeast that has not spent one dollar of this American rescue plan funds,” McKee said in a press conference Thursday.
McKee filed a supplemental budget on Thursday with the General Assembly for his Rhode Island Rebound plan, where the state will invest 10% of the $1.1 billion American Rescue Plan State Fiscal Recovery Funds into short-term investments towards families, children, workers, and small businesses directly impacted by the pandemic.
“We’re writing Rhode Island’s next chapter now,” wrote Governor Dan McKee in a statement. “National assessments show that Rhode Island is, for once, a leading state as we emerge from the COVID-19 pandemic. If we invest soon and invest wisely, we can continue to lead rather than follow, creating opportunities for Rhode Islanders as a result. Rhode Island Rebounds represents a crucial, initial, short-term investment in Rhode Island’s families, workers and small businesses to keep our economic comeback going strong.”
In a letter to the General Assembly, McKee noted Rhode Island has one of the highest vaccination rates in the nation, and is already ’emerging from the pandemic with strength.’ The Governor noted these funds are short-term, meant to met Rhode Island’s immediate needs.
The budget was submitted Thursday, and if approved by the General Assembly, 10% of the down payment would leave Rhode Island with $1 billion in federal funding for more long-term investments.
McKee’s investments include the following:
- Small businesses and impacted industries ($32 million)
- Tourism, hospitality, and events industries ($13 million)
- Children, families and social supports ($38.5 million)
- Affordable housing and housing stability supports (29.5 million)