Decision of the Century: General Assembly’s Budget Approach Will Set State’s Trajectory for Decades to Come
The problems we face did not come down from the heavens; they were government-made and they can be reversed. Lawmakers should not feel helpless, nor do we have to be reliant of the federal government. Many states are taking proactive steps to prepare their state economies for rapid recovery... and we must do the same. Lawmakers have to understand that they can no longer hide from the responsibilities and difficult decisions they were elected take on: the status quo budget approach - tax, spend, and borrow - can not work in response to this pandemic crisis.
With a one-billion dollar anticipated revenue shortfall, and with recent statements from leading Rhode Island lawmakers indicating a general feeling of helplessness, the RI Center for Freedom & Prosperity today published a report with proven budget strategies that can help put the state on a long-term positive trajectory. Virtually all recent comments from public officials appear to place an undue reliance on federal bailout funds in the hope that status quo spending levels might be maintained. This is not a budget strategy.
Compiled after numerous discussions with colleagues in other states as well as with state budget experts with national organizations, the Center’s report, Decision of the Century, is premised on the understanding that the decisions that will soon be made by lawmakers in dealing with the pandemic-caused revenue losses, will set the near and long term trajectory for the Rhode Island economy.
POLICY BRIEF: Welfare Reform in Rhode Island
POLICY RECOMMENDATIONS: In tandem with plans to realign the institutional incentives of Rhode Island’s welfare services, the RI Center for Freedom and Prosperity recommends the following specific reforms: Implement a […]
CENTER’s STATEMENT on GOVERNOR’s 2016 BUDGET PLAN
FOR IMMEDIATE RELEASE March 13, 2015 2016 Proposed Budget Does Not Address Major Problems No Game Changing Economic Ideas Does Not Address Long Term Structural Deficits Continued Special-Interest Spending Providence, […]
STATEMENT: General Assembly Budget – More of the Same
/in Blog, Budget and Spending, Recent Posts/by RI Center for FreedomSTATEMENT FOR IMMEDIATE RELEASE June 10, 2015 2016 Budget Has No Broad-based Reforms No Game Changing Economic Ideas Continued Special-Interest Spending Providence, RI — The General Assembly’s proposed FY-2016 budget […]
To GOVERNOR’S MEDICAID WORKING GROUP: A Proven Policy Idea to Save Money
/in Blog, Budget and Spending, Health Care, Recent Posts, Social Services/by RI Center for FreedomA proven and bi-partisan cost saving measure that has produced significant savings in other states has been recommended to state officials by the RI Center for Freedom & Prosperity and its […]