House budget bill: The good, the bad and the booze
Rhode Islanders best not blink in June. If we do, we might just miss much new state policy being swiftly passed in the annual budget bill. The tax and spending plan, and oftentimes some new policy tucked in for good (bad, or indifferent) measure, typically breezes through the General Assembly in the waning days of [...]
Experts weigh in: Does RI repay 38 Studios’ bond
Last week, on June 6th, both a debate and a separate hearing were held whose sole focus was the 38 Studios’ bonds’ situation. (Related posts: first, second.) In a nutshell, my opinion is unchanged: Rhode Island should not repay the bonds. We should also outlaw such bonds. They have a shady origin (complete with a [...]
38 Studios bonds: Don’t default and don’t repay
In my last post I insisted that Rhode Island needed to keep its word and not default on the 38 Studios bonds. I know more now, and my conclusion has changed. After much discussion with Randall Rose of Occupy Providence, who educated me quite a bit, and Sam Bell of RIPDA, I looked into the [...]
Report Confirms Rhode Island Taxes Are Regressive
A new report confirms what progressives have saying for several legislative sessions now: Rhode Island needs tax equity. According to the nonpartisan Institute on Taxation and Economic Policy report the poorest Rhode Islanders will pay more than twice as much in percentage of income than will the richest residents of the Ocean State. Rhode Island [...]
EPI on Gov’s Budget: Right Problems, Wrong Solutions
The Economic Progress Institute, Rhode Island’s lone progressive economic think tank, has released a report that is largely critical of Gov. Chafee’s budget proposal. Like our analyses of Chafee’s speech and proposal, it acknowledges that the governor has identified the right problems, but not the right solutions. According to the Institute’s report released this morning: [...]
Arguing With The Tax Policy Switcheroo
I was or will be on Channel 10′s News Conference Sunday show this week, depending on when you’re reading this. John Simmons, of the Rhode Island Public Expenditure Council, was a guest with me. An exchange we had reminds me of many I’ve had recently, including this comment from Dan DaPonte, the Senate Finance Committee [...]
State of the State Analysis: No Recovery Package
Governor Chafee’s State of the State speech, announcing his budget proposal, strikes a fine balance between solutions and inaction. Woefully inadequate as his proposals are, Governor Chafee does appear to have a reasonable grasp of the problems facing our great state. On social issues, Chafee proposes popular, common-sense solutions like tweaks to gun laws and [...]
State of the State Analysis: Some Highs, Many Lows
On the whole Governor Chafee’s speech was disappointing. The first big budget item: no increases in taxes or fees. So much for tax equity. In fact the corporate tax rate is to go down from 9% to 7%. There are more millions for many worthy projects/areas: K-12 education, higher education, infrastructure, property tax relief, and [...]
State of State Analysis: Optimist-in-Chief
Governor Chafee was a man confident of what our government can achieve in the annual State of the State speech. He’s optimistic about what Rhode Islanders can achieve with steady hard work, and willing to boast about it. In that pride and his faith in government, I would call it progressive in its essentials. But [...]
Read Chafee’s State of State Speech; Budget Proposal
Below this graphic are the prepared remarks of Gov. Chafee tonight. You can read his proposed FY 2014 Budget Summary here. Mr. Speaker, Madam President, members of the General Assembly, Congressman Langevin, fellow General Officers, members of the Judiciary, distinguished guests, and my fellow Rhode Islanders, I am honored to join with you tonight in [...]
Privatization of Higher Ed Violates State Constitution
As reported here and here, the University of Rhode Island has spent close to $500,000 on repairs of its president’s tuition-funded home, which is among the fringe benefits that come with the president’s job, such as a car, an expense account, and club dues. Excessive administrative spending is but one of many results of nationwide privatization of [...]
Welfare Program Stat More Misleading than Wrong
Good for Politifact for calling foul on Rep. Patricia Morgan’s misuse of the old talking point that welfare programs account for more than 40 percent of the state budget. First of all, her numbers were flat our wrong. As Politifact points out, her definition of welfare programs is quite broad. It includes “such spending as [...]
Want an Efficient Historic Tax Credit? Raise Taxes
As the maneuvering in advance of the next legislative session gets into gear, we keep hearing that the state’s historic structures tax credit is to be revived. To recap: for several years, Rhode Island had a tax credit available for developers who restored historic buildings. It was essentially a subsidy for 30% of the cost [...]
RI’s Gambling Addiction: Vote No on Questions 1, 2
Every couple of years someone in RI has the same brainstorm: “Let’s balance the budget by increasing state gambling revenue!” There is often some time-critical imperative requiring that we do it immediately if not sooner. This election cycle it’s the threat/certainty of gambling casinos going up across the border in Massachusetts: our addicted gamblers will [...]
Legislature Wanted to Force Cities to Cut Taxes
June in Rhode Island means two things: ripe strawberries and gubernatorial vetos. The silly way our legislature schedules things — with all important bills held until after the budget passes to ensure every legislator falls into line on that vote — means that hundreds of bills are passed in the last few days of the [...]
Pension Lawsuit Primer
On Friday, the long-anticipated lawsuits against the 2011 Rhode Island Retirement Security Act (the pension changes passed by the Rhode Island General Assembly and signed by Governor Chafee last fall) were filed on behalf of those impacted by the changes. We believe that the State of Rhode Island has a legal and a moral obligation [...]
Sewage Treatment Gets Legislative Treatment
In the waning days of the legislative session, can one be forgiven for suspecting that Assembly members don’t give a, well how about a quart of sewage solids about the municipal governments they represent? Sewage stories from Woonsocket and Warwick lead one to suspect otherwise. Woonsocket first. Woonsocket is currently under a DEM order to [...]
Layoffs Could Cause Crisis for Unemployed Rhode Islanders
Recently, the DLT has been informed of an unprecedented reduction in workforce. Up to sixty-nine employees are scheduled to lose their jobs on July 28th, 70 percent of these are to come from the Unemployment Insurance sector. The irony of going from working to serve unemployed citizens in their time of need, to being one [...]
Legislature Ignores Public Transit in Budget
Who cares about buses? Apparently no one on Smith Hill. The House Budget, to be voted on Thursday, contains not a penny in new revenue for RIPTA. It also contains no ideas, proposals, or signs that anyone in the House Fiscal staff spent more than a dozen minutes thinking about the agency. This is hardly [...]
Live Blog: R.I. House Budget Session
3:39 a.m.: The amended budget passes, 57-15. We are done here – off to the sunrise. Get ready to pay higher bridge tolls, and hug your school bus monitor. 3:37 a.m.: Newberry: “This was a missed opportunity. This budget doesn’t do it. Thirteen things were laid on the table tonight. That’s not right.” 3:33 a.m.: [...]
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