Rhode Island’s total revenue is off the mark by $43 million, or a bit less than 2 percent, for the first nine months of fiscal 2017.
That might not sound like a lot, but the state budget is more than $9 billion, so even a small gap in revenue can make a big difference.
There are also competing priorities between Gov. Gina Raimondo and House Speaker Nicholas Mattiello. Raimondo wants to give Rhode Islanders two years of free college tuition. That would cost $10 million initially. Mattiello wants to phase out the car tax over five years, with the first installment costing about $40 million.
State bean-counters will offer a more definitive report on the amount of state revenue on May 10. Lawmakers will use that information to shape their budget for the fiscal year starting July first.
