While the fiscal 2014 budget process is still not done (with a vote on a plan passed by the House Finance Committee last week scheduled for a vote in the full House Tuesday), it seems that the General Assembly is closing in on the final deal.
There are no new broad-based taxes. The plan restores the historic preservation tax credit, although with strict per-project limits. But it does not follow Gov. Lincoln D. Chafee’s proposal to cut the corporate tx rate from 9 percent to 7 percent. And it does make the first payment to bondholders for the 38 Studios bonds that the state committed to re-pay when the company received the $75 million in loan guarantees.
Does this budget plan seem like a good collection of taxing and spending priorities to you?