PROVIDENCE, R.I. (AP) - Rhode Island legislators will have less money to work with as they craft their own budget proposal for the fiscal year beginning in July.
The Providence Journal reports (https://bit.ly/2nk3JIp ) that revenues are currently $27.3 million, or 1.3 percent, behind estimates developed in November and later used by Democratic Gov. Gina Raimondo when she first proposed her budget.
Data released in February by the Department of Revenue show collections are down across a number of revenue sources including personal income tax, sales tax and lottery payments.
Tax collections have exceeded state estimates in the previous six years.
State budget experts will meet in May to review Rhode Island’s balance sheet and determine the final revenue numbers that will be used for next fiscal year’s budget.
___
Information from: The Providence Journal, https://www.providencejournal.com
Please read our comment policy before commenting.