State leaders approve up to $300M in borrowing related to COVID-19

GOV. GINA M. RAIMONDO asked, and received, authorization to seek a line of credit for the state's budget that will provide up to $300 million until tax payments arrive in July. / COURTESY CAPITOL TV
PROVIDENCE – Rhode Island state leaders have authorized the borrowing of up to $300 million through a line of credit with a commercial bank to stabilize the state’s general fund until taxes start coming in in July. The unusual step, approved Thursday by the Disaster Emergency Funding Board, came at the request of Gov. Gina…

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