PROVIDENCE, R.I. (AP) — Rhode Island Gov. Gina Raimondo has signed into law the state’s $8.94 billion budget, saying it reduces a structural deficit and makes record investments in education and workforce development.
The Democrat was joined by legislative leaders for a Friday signing ceremony.
She says the budget approved by the state’s Democrat-controlled General Assembly will spur economic growth.
The spending plan that takes effect on July 1 will cut business taxes, expand economic development tools, provide tax relief to retirees, combat the opioid overdose crisis and raise the earned income tax credit for low-income families.
It doesn’t include any broad-based tax increases. There will be a new tax on medical marijuana, but scaled back from one originally proposed by Raimondo.
The budget plan also cuts the cost of parking at state beaches.