Winners and Losers: RI Fiscal Year 2017 House Finance Budget

Winners and Losers: RI Fiscal Year 2017 House Finance Budget

Who are the winners and losers in the $8.9 billion tax-and-spend bill approved by the House Finance Committee early Wednesday morning? 

It's a mixed bag.   

In the Rhode Island Fiscal Year 2017 budget that Speaker of the House Nicholas Mattiello touted as "pro-business, pro-economy," businesses and pensioners will see some tax relief. Medical marijuana supporters -- and cigarette smokers -- both came out ahead.  

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However, not all the bonding issues put forth by Governor Gina Raimondo made it through.  Neither did her proposals for the statewide tourism campaign, or minimum wage. 

Mattiello told reporters that he was proud of the budget product as put forth, which will now go before the full House next week. 

"We've got a reduction of taxes and a focus on tools for creating economic opportunity," said Mattiello. "I suspect the foundation they’ve laid will yield results.  Rhode Island is moving in the right direction — not as fast as anyone would like, including myself, but we are moving in the right direction, and we’ve created policies and decisions have put us on track for growth in the future."