Rhode Island Public Expenditure Council

• RIPEC released a new policy brief examining Rhode Island’s Housing Resources Commission (HRC). RIPEC found that the HRC has wide statutory authority over housing policy and programming and shares many of the same top-line responsibilities as the Department of Housing. Conducting a 50-state analysis, RIPEC also found that the HRC’s combination of membership size, responsibilities, funding authority, and persistent issues with conflicts of interest makes it unique among housing stakeholder agencies nationwide. RIPEC testified in support of an amendment in the governor’s budget to reimagine the HRC as an advisory body.
  • Providence Journal, “RIPEC warns Housing Resources Commission is prone to conflicts of interest, needs reform”
  • Providence Business News, “RIPEC: Troubled housing commission needs reform”
  • WPRI 12, “RIPEC looking to overhaul Housing Resources Commission”
  • What’s Up Newp, “RIPEC analysis finds Rhode Island’s Housing Resources Commission in need of reform”
  • RI News Today, “RIPEC report: RI Housing Resources Commission an agency in need of reform”

• RIPEC President & CEO Michael DiBiase offered testimony to the House and Senate Finance Committees in opposition to a proposed 50 percent increase on Rhode Island’s top income tax rate. Citing RIPEC’s recent policy brief analyzing the proposal, he noted that a sharp income tax hike risked damaging “Rhode Island’s competitive position, which is already weak,” and hurting the state’s “ability to attract and retain business investment.”
  • Rhode Island Current, “Millionaire’s tax proposal is getting a warm reception from new R.I. Senate leadership”

• RIPEC held a Housing Forum at the Gilbane Learning Center which brought together leaders from across the public and private sectors for panel discussions on housing development and policy. The event also featured remarks from Rhode Island House Speaker K. Joseph Shekarchi and Senator Jacob Bissaillon.
  • WPRI 12, “RI Public Expenditure Council holds housing forum”

• Michael DiBiase presented an update on Providence taxes and the state budget at a meeting of the Providence Foundation Trustees. Highlighting RIPEC’s finding that Providence’s property taxes place a heavy burden on businesses and apartment properties compared to other cities in Rhode Island and nationally, DiBiase noted that Mayor Smiley’s proposed changes to Providence’s property tax structure represent a positive step for economic development and housing affordability. RIPEC submitted testimony to the City Council in support of the proposal.  

• RIPEC Public Policy Analyst Jeffrey Hamill was quoted in a series of Providence Journal articles addressing the impact of out-of-state homebuyers on Rhode Island’s housing market—including where buyers are coming from, the pressure their purchases place on affordability, and why increasing housing supply is a necessary response. “We need more homes, and we need them to come to the market faster and at a range of price points,” he noted. “Any zoning and permitting changes that can get more homes built would be the best way to ease the supply crunch the state is currently experiencing.”

• RIPEC Director of Policy & Research Justine Oliva presented to the Rhode Island Association of School Committees on key findings in RIPEC’s March report on Rhode Island’s state and local tax shift. She highlighted that, since fiscal year (FY) 2012, state education aid has grown at more than three times the rate of local funding increases, which have not kept pace with inflation.

• Congratulations to Justine Oliva for being  named one of Providence Business News’ 40 under Forty honorees for 2025 for her research and policy work at RIPEC.

Inside Insights

• The National Conference of State Legislatures released a report detailing best practices for the use of recurring vs. nonrecurring revenues and expenditures in short-and long-term budgeting practices. In a January report, RIPEC found that the Ocean State’s use of nonrecurring revenues to pay for continuing expenses was  the primary cause of the state’s large structural budget deficit.  

• Rhode Island Department of Labor and Training’s May Labor Force Report found that the Ocean State’s unemployment rate rose in April, despite an increase in Rhode Island-based jobs—continuing a trend highlighted in the Q1 2025 edition of RIPEC and Bryant University’s Key Performance Indicators Quarterly Briefing.

• WalletHub’s analysis of the best and worst state economies for 2025 found Rhode Island ranked 33rd in the country and second worst in New England ahead of only Maine. The rankings considered 28 metrics, including startup activity, unemployment rate, median household income, and jobs in high-tech industries.

What to Look for in June

• The Rhode Island General Assembly is entering into final negotiations over the state budget this month, with FY 2025 ending on June 30 and FY 2026 beginning on July 1. Look for RIPEC’s analysis of the enacted budget following its passage.