PROVIDENCE, R.I. (AP) - A Rhode Island watchdog group says the state’s budget has grown faster than residents’ personal income over the past eight years.
According to a report by the Rhode Island Public Expenditure Council, the state’s budget rose 16.3% from the 2012 budget year to the 2020 budget year. Over the same period, the average personal income rose 13.4% and the rate of inflation was 14%.
The Providence Journal reports the council’s government finance report is the first of three to be made public this fall.
The council’s president and chief executive, John C. Simmons, says he hopes the reports will give policymakers context as they prepare to update the state’s economic development plan.
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Information from: The Providence Journal, http://www.providencejournal.com
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