R.I. facing nearly $400M budget shortfall
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The Associated Press and NBC 10 News
Published: November 10, 2008
PROVIDENCE—Gov. Don Carcieri has called for spending cuts after budget officials estimated that Rhode Island faces a $372 million budget shortfall for the year ending in June.
State budget officials have spent weeks studying the state’s financial picture and released their estimates Monday. By law, Carcieri must use those estimates when drafting the state budget.
Carcieri said he is considering spending cuts in state aid to cities and towns and reducing the costs associated with pensions, among other steps.
Despite the shortfall, Carcieri has said he opposes raising personal income, sales or business taxes. The Republican governor said he wants to meet next week with legislative leaders in the Democratic-dominated General Assembly to discuss the state’s budget problems.
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