Gov. Daniel J. McKee’s $13.8 billion spending plan for the next fiscal year proposes nearly $100 million in tax relief, including a reduction in the state sales tax and energy rebates.
The sales tax reduction from 7% to 6.85% is projected to result in a total savings of $35 million annually.
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He’s also proposed $35 million in energy bill rebates and a halt on a scheduled gas tax hike he says will provide nearly $25 million in tax relief over two years.
On economic development, his proposals include a $45 million investment into the life sciences sector and another $25 million to support offshore wind growth in East Providence.
He’s also proposing $5 million to help small businesses boost their energy efficiency.
