Gov. Lincoln Chafee joins Political Roundtable this week to talk about his budget, Rhode Island's economy, and regional competition for a better tax climate. Also joining me in the discussion are RIPR political analyst Scott MacKay and guest panelist David Klepper from the Associated Press.
Governor Lincoln Chafee is winning a measure of plaudits for a budget with no new taxes and a proposed cut of the corporate tax from 9 percent to 7 percent over three years. But a tax initiative by Massachusetts Governor Deval Patrick is raising uncertainly about the net effect of Chafee's initiative.
After trying unsuccessfully for the last two years to get the General Assembly to go along with a series of tax proposals, Governor Lincoln Chafee goes in a very different direction with his proposal for the budget year starting July 1. The budget eschews tax hikes and proposes cutting Rhode Island's corporate tax from 9 percent to 7 percent over three years.
Making Rhode Island more competitive and getting Rhode Islanders back to work are central points of Governor Lincoln Chafee's State of the State address tonight.
Budget staffers and other members of the governor's administration held a background briefing for reporters a short time ago at the Department of Administration building on Smith Hill. The details are embargoed until Chafee begins his speech this evening in the House chamber.
But in addition to the points in the first sentence of the post, the Chafee administration also plans to emphasize: