State projects $134M budget deficit for fiscal 2018

A NEW BUDGET ESTIMATE on Thursday projected a $134 million deficit in Rhode Island's 2017-18 fiscal budget. /PBN FILE PHOTO/STEPHANIE ALVAREZ EWENS
A NEW BUDGET ESTIMATE on Thursday projected a $134 million deficit in Rhode Island's 2017-18 fiscal budget. /PBN FILE PHOTO/STEPHANIE ALVAREZ EWENS

PROVIDENCE – Sharon Reynolds Ferland, R.I. House of Representatives chief fiscal adviser, told the House Finance Committee on Thursday that new calculations estimate a $134 million deficit in Gov. Gina M. Raimondo’s $9.2 billion spending plan for fiscal 2018, officials from House Speaker Nicholas A. Mattiello’s office confirmed.

This comes on the heels of the $100 million dollar decline in revenue estimates that the state’s budget office estimated on May 10.

The budget is due by July 1, when the new fiscal year begins.

Chris Bergenheim is the PBN web editor.

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