Gov’s Reaction to the G.A.’s Budget Bill
Governor Carcieri’s office has issued this statement about the 2010 budget bill (PDF) passed late today by the House Finance Committee.
While the budget does make some very difficult choices and includes pension reform, it does not include much needed structural changes that will move the state forward and make us competitive to create jobs and grow our economy. Absent in this budget are key proposals to give the cities and towns the tools they need to control costs and property taxes. Further, by raising the gas tax and treating capital gains as ordinary income, the House proposal includes an increase in the overall tax burden.
The only way we can turn this state around and begin to pull ourselves out of this economic decline is to grow our economy. We need a tax structure that encourages businesses and individuals to stay in stay in Rhode Island, to invest in Rhode Island, to grow our economy and to grow jobs. I hope to work with the leadership of the General Assembly to secure approval of a responsible budget plan that puts Rhode Island on the path of economic recovery.