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RI predicts more revenue in projections
Estimates could influence tax-hike proposals
Updated: Thursday, 10 May 2012, 5:19 PM EDT
Published : Thursday, 10 May 2012, 4:34 PM EDT
PROVIDENCE, R.I. (AP) - A panel of state budget and financial experts announced Thursday they projected an extra $60 million revenue within the next fiscal year.
The increase will help avoid several tax-increase proposals and budget cuts in Rhode Island's General Assembly.
According to the last estimates, the state was facing a $117 million budget deficit for its next fiscal year. But with the new estimates, that umber could be cut by more than half by July.
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