
House Finance Committee approves revised 2026 state budget
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House Finance Committee approves revised 2026 state budget
Rhode Island’s House Finance Committee has put together a revised $14.3 Billion Budget. Some of the key elements include Washington Bridge Funding and a new State Property Tax. The budget is about $119 million more than what Governor Dan McKee had originally planned. House Speaker Joe Shekarchi says this budget reflects the needs that need to be protected throughout the state.
Some of the key elements include Washington Bridge Funding and a new State Property Tax.
The budget is about $119 million more than what Governor Dan McKee had originally planned.
The budget has a lot of elements, but some of the main takeaways include healthcare:
$45 Million is slated for primary care
$38 Million to Hospitals
$12 million to nursing homes which also includes revised staffing requirements.
Gas tax
Another key point is the state’s gas tax will be raised by 2 cents, and the funding will go towards the Rhode Island Public Transit Authority, which would generate $15 million to help close its deficit.
Taylor Swift Tax
And whats being called the Taylor Swift Tax, a new statewide property tax on non-owner-occupied homes valued above $1 million.
House Speaker Joe Shekarchi says this budget reflects the needs that need to be protected throughout the state.
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Child care
The revised budget extends a state program to subsideze child care for child care providers. There is a separate rate for infants and toddlers receiving state subsidized care.
Not included:
It should be important to mention what’s not included in the Budget which Governor McKee wanted including:
No tax on digital advertising
No millionaires tax
No acquiring of the former Citizens Bank building in East Providence for new state offices.
And now that $14.3 billion budget will make its way to the House Floor for debate.