‘This is a day we can celebrate’: McKee signs $14B state budget
PROVIDENCE, R.I. (WLNE) — Gov. Dan McKee signed the state’s $14 billion budget Friday.
“This state budget is good for Rhode Island, but it is good for Rhode Islanders,” said McKee. “This is a day we can celebrate.”
The Senate voted 32-4 in support of the state’s budget, which shines a light on funding for housing, business development, and education — three of the biggest concerns for Rhode Islanders.
On the business front, the budget includes a $50,000 exemption for all businesses subject to the tangible tax, which has put a stranglehold on small businesses and municipalities for years.
As for housing, the General Assembly directed a large portion of funds towards housing and the housing crisis in Rhode Island, where lawmakers also added an additional $39 million from the original proposal to support housing development.
The 2024 budget already passed through the House last week overwhelmingly with a 68-4 vote, and now McKee is set to sign the bill in a special ceremony Friday at the State House.
