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« Photo: White coats turn out on RIte Care's behalf | Today | Update: Delivery man dies in freak fall at J&W building » April 9, 2008House airs weekend gambling, end to historic tax creditsPROVIDENCE –– Bills increasing gambling hours at the state's two slot parlors and ending the state's popular historic tax credit program go before the state House of Representatives today. Legislation to allow 24-hour gambling at Twin River in Lincoln and Newport Grand on weekends and holiday eves is on the House calendar. The proposal passed the House Finance Committee 12 to 3, despite an eleventh-hour appeal by opponents to halt the state’s ever-increasing reliance on gambling to plug budget holes and earmark a portion of the anticipated new revenue to problem-gambling prevention and treatment. But in a year when the state is facing a massive budget deficit, the majority decided they could not pass up projections that overnight gambling on weekends and holiday eves could produce a potential $14.8 million in additional revenue for the state. The full House is also scheduled to address a bill that would bring the state's historic tax credit program to an end. Again, the state's budget situation is behind the change. Earlier this month, the House Finance Committee voted to block new projects from qualifying for the program, while creating a trust fund of up to $280 million in borrowed funds to help cover future obligations to developments already in the pipeline. The compromise legislation replaces Governor Carcieri’s initial plan to implement an annual cap on the credits, which many feared would kill the program altogether. And it represents the result of weeks of back-room negotiations as officials struggled to save a program that enjoyed the backing of top legislative leaders, but was placing an increasing burden on taxpayers. The existing program will cost taxpayers an estimated $66.1 million this year. Rhode Island is facing a current-year deficit of at least $151 million; less than three months remain in the fiscal year. Next year’s deficit, now projected at $384 million, is expected to grow substantially in the coming months. -- From Journal staff reports Posted by Andrea Panciera CommentsPaul | April 9, 2008 6:56 PM link I guess we all have to do what it takes to pull this state out of debt. There are many more things we must do that will cause outcry's, but will also be necessary, God help us. R.R.H | April 9, 2008 10:30 PM link Post a commentPlease be civil. Vicious comments, personal attacks and profanity won't be published. Name and email are required; email address will not publish. |
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ProJo 9 to 5 News Blog
Oct 2005 - March 2006
I love it! Finaly a place for the homeless to hang out all night and not in front of my shop on Thames Street. I'll just give the gang a ten spot and have them play penney slots all night and drink for free. Are they going to start asking people if they are homeless? Are the police going to move these people on because they arent spending enough? If so, they better clear out all the diaper wearing folks too.