Rhode Island Public Expenditure Council

• RIPEC and The Center for Regional and Economic Studies at Bryant University released the Key Performance Indicators Briefing for Q2 2025. Key indicators highlighted concerning economic trends, including the unemployment rate rising for the eighth straight quarter and exceeding both the New England and U.S. rates for the sixth consecutive quarter. Although Rhode Island-based jobs remained steady at historically high levels and preliminary net sales tax receipts showed modest growth, overall employment fell by 3,300 quarter-over-quarter and labor force participation declined for the fourth consecutive quarter.
  • Boston Globe, “R.I. unemployment rises again as state’s economy shows ‘concerning trends,’ RIPEC briefing says”
  • Providence Business News, “RIPEC: ‘Growing headwinds’ for R.I.’s economy”

• RIPEC President & CEO Michael DiBiase spoke to the Rhode Island Current about the potential impact of the One Big Beautiful Bill Act on Rhode Island. He noted that the bill’s changes to food assistance programs would place, “a lot more pressure on the state,” and that additional administrative rules would be a “very heavy lift for the administration to carry out.”

• For the third consecutive year, RIPEC was recognized by the Governmental Research Association—the leading national group of public policy, government, and civic researchers—for its public policy work. RIPEC received the 2025 Best Short Form Writing Award for the March 2025 Boston Globe op-ed by Michael DiBiase and Director of Policy & Research Justine Oliva on Providence property taxes, which offered practical solutions to rebalance the system and support housing affordability and a strong economy amid a difficult tax debate.

• RIPEC offered verbal and written comments on RIHousing’s draft of the state’s 2026 Qualified Allocation Plan, which sets the rules for how roughly $36.0 million in federal low-income tax credits will be awarded. In testimony, RIPEC Public Policy Analyst Jeffrey Hamill recognized the draft incorporated many of RIPEC’s recommendations from last year but proposed further changes to better control costs, incentivize mixed-income developments, and allow for single-room occupancy units to address transitional housing needs. Responses to public comments will be heard on August 13.

• A Providence Journal story on Little Compton’s 12.0 percent year-over-year property tax levy increase cited RIPEC’s finding that the town had the lowest residential property tax rate in Rhode Island for tax roll year 2025. Property tax bills for resident homeowners with homes assessed at $425,000 varied by more than $6,000 across the state’s cities and towns in 2025, RIPEC found.

• RIPEC hosted the Annual Conference of the Governmental Research Association at Johnson & Wales John J. Bowen Center for Science and Innovation in Providence. The conference featured panel discussions with experts from Rhode Island and across the United States, covering topics such as the impact of federal uncertainty on state budgets and the role of state and local governments in funding K–12 education. Highlights included a conversation between Michael DiBiase and Providence Mayor Brett Smiley, remarks from Secretary of State Gregg Amore, and a keynote address from Brown Professor Corey Brettschneider.

Inside Insights

• Pew Charitable Trusts released an analysis of pension changes adopted by Rhode Island’s General Assembly in 2024, noting that the reforms successfully balanced cost-of-living concerns for public sector retired workers with the need to maintain pension fund targets and measures that mitigate risk. RIPEC served on the Pension Advisory Group that offered a series of options for consideration to the General Assembly.

• Rhode Island Association of Realtors’ data showed Rhode Island’s median single-family home sales price increased to $520,000 in June, a 5.3 percent jump over last year. The median sales price on condominiums ($417,500) and multifamily homes ($599,000) grew 18.4 percent and 13.0 percent, respectively. Nearly one in four home buyers (23.5 percent) were from out of state through the first half of the year.  

• Rhode Island ranked 46th (fifth worst) in CNBC’s America’s Top States for Business. The Ocean State placed in the bottom five states for business friendliness, the cost of doing business, and economic climate.

What to Look for in August

• RIPEC will publish a report analyzing Rhode Island’s FY 2026 enacted budget. The report finds that the state continues a pattern of robust spending increases, even as revenue growth slows and federal funding remains uncertain.