Statement Regarding the Budget Announcement by the House Committee on Finance

Governor Lincoln D. Chafee said tonight: “My administration and I will evaluate the budget presented to the House Committee on Finance. I understand that the budgeting process is an exercise in compromise, collaboration and cooperation, and I hope that this budget will move Rhode Island forward.

"Since my first budget, I have proposed and been a proponent of lowering the corporate tax from 9 percent to 7 percent. I applaud the General Assembly for taking this important step to making us more competitive.

"I have been adamant that a reasonable alternative to tolling be reached. The reality is that road and bridge infrastructure needs a consistent funding stream and the money must come from somewhere. Nobody wants to see another bridge completely replaced – at great cost to taxpayers – because of a lack of maintenance. Good transportation infrastructure is closely aligned with building a strong economy. I look forward to examining the plan put forth by the House Committee on Finance.”