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Rhode Island’s Budget Stabilized with Federal Funding, Jump in Estimated State Revenues

PROVIDENCE, R.I. – A new Rhode Island Public Expenditure Council (RIPEC) report released today analyzes Governor Daniel J. McKee’s fiscal year (FY) 2022 budget, revenue projections, and new federal resources. The report focuses on the extent to which the budget utilizes one-time federal funding to pay for ongoing state expenditures, analyzes the projected increases in …

An Analysis of Charter Public Schools in Rhode Island

PROVIDENCE, R.I. – The Rhode Island Public Expenditure Council (RIPEC) released “An Analysis of Charter Public Schools in Rhode Island,” a look at the key issues surrounding charter public schools in the state, today. The report outlines charters’ history and legal framework; school, enrollment, and demographic data; financial structures; and student outcomes. Following its analysis, …

Q1 2021 CEI Briefing Shows Improved but Lagging Economy in Rhode Island

PROVIDENCE, RI – Rhode Island’s economy is on an upswing but trails the region and nation in terms of growth, according to the Rhode Island Current Economic Indicator Briefing for the first quarter of 2021, published today by the Center for Global and Regional Economic Studies at Bryant University and the Rhode Island Public Expenditure …

An Introduction to Municipal Finance in Rhode Island

PROVIDENCE, R.I. – The Rhode Island Public Expenditure Council released today “An Introduction to Municipal Finance in Rhode Island.” The first of a series, in this report RIPEC establishes a foundational overview of the structures of municipal finance in Rhode Island to serve as a backdrop for a more in-depth investigation into subject areas affecting …

How Rhode Island Compares

PROVIDENCE, R.I. – The Rhode Island Public Expenditure Council released today an analysis of “How Rhode Island Compares” to the U.S. and New England on state and local revenues and expenditures, using the most recent data available from the U.S. Census Bureau (fiscal year 2018). In addition to comparing the Ocean State’s revenues and spending …

RIPEC Supports Borrowing for State Bond Referenda

PROVIDENCE, R.I. – The Rhode Island Public Expenditure Council released today an analysis of the seven ballot initiatives totaling $400 million to be considered by Rhode Island voters at a special election on March 2, 2021. The report looks at each bond referendum in terms of its return on investment, consistency with long-term state debt …

Q4 2020 Current Economic Indicator Briefing Indicates Lengthy Economic Downturn

PROVIDENCE, RI – Rhode Island is in the midst of a protracted economic downturn, according to the Rhode Island Current Economic Indicator Briefing for the fourth quarter of 2020, published today by the Center for Global and Regional Economic Studies at Bryant University and the Rhode Island Public Expenditure Council. Economic data for Q4 2020 …

Rhode Island Facing Over $500 Million Potential Deficit For Next Fiscal Year

PROVIDENCE, R.I. – Rhode Island is facing a $513.7 million budget deficit in FY 2022 if expenditures continue to grow as projected and one-time federal funding is no longer available to plug state general revenue expenditures, based on an analysis by the Rhode Island Public Expenditure Council. The so-called “skinny” FY 2021 state budget enacted …

Rhode Island Ranks 37th in 2021 Business Tax Climate Index

PROVIDENCE, R.I. – An analysis of the 2021 Business Tax Climate Index by the Rhode Island Public Expenditure Council shows a modest increase in Rhode Island’s ranking to 37th in the nation. The 50-state ranking shows Rhode Island improving two spots over its 2020 rank. The Index also shows Rhode Island ahead of its neighbor, Connecticut …

Q3 2020 CEI Shows Partial Recovery, Constrained Economic Activity

PROVIDENCE, RI – While economic activity in Rhode Island grew in the third quarter of 2020 and the state recovered a significant number of jobs as compared to the second quarter of 2020, economic activity continues to be severely constrained. These projections were released today in the Rhode Island Current Economic Indicator Briefing, published jointly by …

Reopening of RI’s Public Schools Is Uneven Across Districts Raising Troubling Equity Issues

PROVIDENCE, RI – A new Rhode Island Public Expenditure Council report released today raises concerns about increased inequity across Rhode Island’s public elementary and secondary education system since the onset of the COVID-19 pandemic. The report, entitled “Elementary and Secondary Education in the Pandemic: An Analysis of School Reopening and Distance Learning in Rhode Island,” analyzes …

CEI for Q2 2020 Shows Historic Contraction of Economic Activity and Employment in RI

PROVIDENCE, RI – Today, the Center for Global and Regional Economic Studies at Bryant University and the Rhode Island Public Expenditure Council jointly released the Rhode Island Current Economic Indicator (CEI) Briefing for the second quarter of 2020. The Briefing details an unprecedented contraction in economic activity in Q2, with the Gross Domestic Product (GDP) declining …

Key Questions Remain in Proposal to Shore Up Flagging RIte Share Program

PROVIDENCE, RI – A Rhode Island Public Expenditure Council policy brief released today finds that elements of the administration’s plan to bolster the state’s flagging RIte Share program may require greater consideration. Through the RIte Share program, the state covers out-of-pocket expenses on employer-sponsored health insurance for Medicaid-eligible employees and their families. The policy brief breaks …

May 2020 Consensus Revenue Estimating Conference Points to Slow Recovery of State Revenues

PROVIDENCE, RI – A new Rhode Island Public Expenditure Council report warns that Rhode Island may experience a long-term shortfall in general revenues and finds that while the state recovered all the jobs lost during the Great Recessions several years ago, its inflation-adjusted general revenue levels had yet to recover, before the pandemic. The report, “Rhode …

Assembly Relies on Rainy Day Fund, Federal Pandemic Funding to Balance FY 2020 Supplemental Budget

PROVIDENCE, RI – A new Rhode Island Public Expenditure Council report released today examines the measures taken by the Rhode Island General Assembly to pass a balanced supplemental budget for fiscal year (FY) 2020, which ended June 30, 2020. Specifically, the report looks at how the legislature solved for a general revenue deficit caused by …

Unemployment Trust Fund Solvency Threatened, Rate Hikes Likely; TDI Stable but Rates Hikes Likely

PROVIDENCE, RI – A new Rhode Island Public Expenditure Council report released today finds that, because of the economic crisis resulting from the COVID-19 pandemic, Rhode Island’s unemployment insurance (UI) trust fund is projected to be insolvent by the end of September. As a result, employers are likely to pay significantly more in federal and state …

CEI for Q1 2020, April Jobs Numbers Show Sharp Decline, Uneven Impact of Pandemic on RI Industries

PROVIDENCE, RI – Today, the Center for Global and Regional Economic Studies at Bryant University and the Rhode Island Public Expenditure Council jointly released the Rhode Island Current Economic Indicator (CEI) Briefing for the first quarter of 2020. “The industry breakdown of employment losses speaks to the fact that Rhode Island has one of the …

RI Faces Severe Budget Challenges From COVID-19 Crisis Without More Federal Aid

PROVIDENCE, R.I. (April 2020) – A new Rhode Island Public Expenditure Council report released today finds that unless more federal assistance is provided, the State of Rhode Island will likely have severe budget challenges as a result of the economic fallout connected with the COVID-19 public health emergency. The report, “The COVID-19 Economic Crisis: Federal Assistance …

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