Post by Logan on Feb 3, 2016 1:15:58 GMT -6
Raimondo offers a $9-billion 'jobs budget' with more aid to education
PROVIDENCE — Governor Raimondo on Tuesday proposed a $9-billion state budget that calls for a 25-cent hike in the state's cigarette tax, a $30-million cut in unemployment insurance taxes and a reworking of the school aid formula to funnel millions more dollars to Rhode Island's traditional public schools.
In her "jobs budget," as she called it, Raimondo also proposed a major public investment — $20 million — to create a brick-and-mortar "innovation center," at a location yet to be determined, where academics, researchers, business people and entrepreneurs can collaborate.
Raimondo is seeking to raise state and federal spending from the $8,665,438,731 budgeted for this year to $8,964,772,377 in the year that begins on July 1. That includes $3.7 billion in state dollars, which is a $124.8 million, or 3.5 percent, year-over-year increase. (Most of the rest is federal funding.)
The budget that Raimondo proposed to lawmakers on Tuesday night, during a televised speech to a joint session of the House and Senate:
Read more: www.providencejournal.com/news/20160202/raimondo-offers-9-billion-jobs-budget-with-more-aid-to-education
PROVIDENCE — Governor Raimondo on Tuesday proposed a $9-billion state budget that calls for a 25-cent hike in the state's cigarette tax, a $30-million cut in unemployment insurance taxes and a reworking of the school aid formula to funnel millions more dollars to Rhode Island's traditional public schools.
In her "jobs budget," as she called it, Raimondo also proposed a major public investment — $20 million — to create a brick-and-mortar "innovation center," at a location yet to be determined, where academics, researchers, business people and entrepreneurs can collaborate.
Raimondo is seeking to raise state and federal spending from the $8,665,438,731 budgeted for this year to $8,964,772,377 in the year that begins on July 1. That includes $3.7 billion in state dollars, which is a $124.8 million, or 3.5 percent, year-over-year increase. (Most of the rest is federal funding.)
The budget that Raimondo proposed to lawmakers on Tuesday night, during a televised speech to a joint session of the House and Senate:
"Increases funding for elementary, secondary and higher education ... reduces unemployment taxes for business owners ... invests in economic growth and innovation ... supports working Rhode Islanders through a minimum wage increase and expansion of the Earned Income Tax Credit ... and promotes the fiscal health of our cities and towns."