Facts and Stats 2018: U.S. Census Data Analysis on Poverty and Income

The data also show that Rhode Island’s communities of color were much more likely to live in poverty with poverty rates for Blacks and Latinos three times those of Whites. The overall median income masks the hurdles faced by communities of color in our state. Latino ($41,123) and Black ($37,781) median incomes trail overall median income by a wide margin, …

Facts and Stats 2018: U.S. Census Data Analysis on Health Care

In 2017, Medicaid expansion allowed 75,000 single adults with income marginally above the poverty line to have health insurance coverage, representing 23% of the Medicaid-insured population. The balance of the Medicaid-insured included: 20,000 seniors (6%), 32,000 adults with disabilities (10%) and 12,000 children with disabilities (4%). The majority (51%) of Medicaid enrollees were pregnant women, children and their families (166,000). …

Highlights of the 2018 General Assembly Session: 2019 Enacted Budget and Legislation

The 2019 budget (“the budget”) for the fiscal year beginning July 1 totals $9.6 billion, including $3.2 billion in federal funds, $3.9 billion in general revenue, $282 million in restricted receipts and $2.2 billion in “other” funds (including the Unemployment Insurance Fund and tuition and fees from CCRI, URI and RIC). (Figure 1) The enacted budget is $195 million higher …

Medicaid Matters in Rhode Island 2018

Rhode Island’s Medicaid Program serves approximately one-in-three Rhode Islanders, providing access to primary and preventive health care services for children, parents, adults, seniors and people with disabilities. Medicaid is the primary funder for long-term care services that children and adults with significant disabilities and seniors need to live safely at home or to pay for care in a nursing facility …

The Tax Cuts and Jobs Act Overview

In December, Congress passed, and the President signed into law, the Tax Cuts and Jobs Act (“the Act”) which includes changes to both the federal personal income tax and the federal corporate income tax. The Act results in very large tax cuts for higher-income earners, foreign investors, and corporations. The resulting loss of an almost $1.5 trillion in federal revenue …

Highlights of the Governor’s Proposed FY 2019 Budget

The Governor’s proposed FY2019 budget (“the budget”) totals $9.2 billion, an increase of $5.2 million over the enacted FY2018 budget. This includes $3.8 billion in general revenue (increased by $25.0 million from enacted FY2018) and $3.1 billion in federal funds (a decrease of $52.3 million from enacted FY2018) with the balance from restricted receipts and other sources. The following provides …

Facts and Stats: US Census Poverty and Income Data 2016

In 2016, more than one in eight Rhode Islanders (12.8 percent) had income below the poverty level. The Ocean State had the highest rate of its residents living in poverty in the New England states and ranked 22nd among all states. The 12.8 percent overall poverty rate in Rhode Island in 2016 was a significant decline from the peak rate …

Highlights of the FY2018 Budget

OVERVIEW The 2018 budget for the fiscal year beginning July 1, 2017 was signed into law by the Governor on August 3, after the Senate and House came to agreement on the budget and a bill to monitor the impact of the phase out of the Motor Vehicle Tax. From July 1 through August 3, the state operated under the …

Trump Tax Plan Would Mostly Benefit Wealthiest Rhode Island Taxpayers

PROVIDENCE, RI— A new analysis from the Institute on Taxation and Economic Policy reveals a federal tax reform plan based on President Trump’s April outline would fail to deliver on its promise of largely helping middle-class taxpayers, showering 61.4 percent of the total tax cut on the richest 1 percent nationwide. In Rhode Island, the top 1 percent of the …