PROVIDENCE, R.I. (WPRI) — During Gov. Dan McKee’s first State of the State address, he said this is a “big moment” for Rhode Island.

On Thursday McKee will unveil his proposed 2023 budget, which would come with his plan for how to spend the roughly $1 billion in federal aid left over from the American Rescue Plan.

McKee says his budget proposal won’t include any “broad-based tax increases.”

“We have a historic opportunity in front of us. An opportunity to chart a stronger more prosperous way forward for all Rhode Islanders,” McKee said Tuesday.

He said he plans to invest $250 million in affordable housing, as well as early education and child care, school construction, infrastructure projects, and support for small businesses.

He says he also plans to allocate about $150 to tackle climate change by expanding electric vehicle charging stations, improving ports, and supporting the development of offshore wind energy.

We’ll have a full breakdown of McKee’s budget plan starting at 12 News at 4 p.m.