RIPEC projects R.I. budget gap of $150M to $175M

PROVIDENCE – In its mid-year forecast, the Rhode Island Public Expenditure Council predicts a state budget shortfall of $150 million to $175 million in the current budget year and $380 million to $450 million in fiscal 2009. Revenue will fall short of expectations by $113.4 million this budget year (fiscal 2008) and $116.4 million the…

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