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.

With the Ocean State’s economy burning all around us, politicians just keep fiddling the same old spend-and-tax tune

Non-essential Spending in Rhode Island

HOW CAN TAX CUTS BE PAID FOR? Read about non-essential spending that can be trimmed in our report preview. It is simply a matter of setting spending priorities so that crushing tax burdens can be lessened for all Rhode Island families and businesses. [button url=”http://www.rifreedom.org/?p=10237″ target=”_self” size=”medium” style=”royalblue” ] Report Preview: Pork Spending[/button]

Non-Essential Spending in RI: How to Pay for Tax Cuts

Non-Essential Spending in the Ocean State Budget Savings vs Job Creation February 24, 2014 Report Preview (check back in March for complete report) With the state of Rhode Island in economic crisis, and with massive structural budget deficits projected for years to come, Ocean State lawmakers have the opportunity to both grow the economy and […]

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