Proposed $14.2 billion state budget seeks to close deficit

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Proposed $14.2 billion state budget seeks to close deficit

Governor Dan McKee submitted his $14.2 billion budget for fiscal year 2026 on Jan. 16, marking a $250 million increase from the FY 2025 budget of $13.9 billion. The proposed increase follows a projected budget deficit of $297.8 million in the upcoming fiscal year, according to an analysis by the Rhode Island Public Expenditure Council.McKee said that his budget would close the deficit to $223.3 million. The budget projects an increase in state e…