Rhode Island’s budget increased, cumulatively, more than pop+inf in state funds and all funds from 2013-22.
State Funds Budget Data
- Estimated 2023 State Funds Budget ($ Billions): $9.87
- Budget Limit ($ Billions): $10.42
- Budget Limit Growth ($ Billions): 5.58%
- Cost per person of budgeting more than pop+inf over the last decade in 2022 budget: $2,364.66
- Cost per family of 4 of budgeting more than pop+inf over the last decade in 2022 budget: $9,459
- Cumulative cost per person of budgeting more than pop+inf over the last decade: $2,511.22
- Cumulative cost per family of 4 of budgeting more than pop+inf over the last decade: $10,044.87
State All Funds Budget Data
- Estimated 2023 All Funds Budget ($ Billions): $15.90
- Budget Limit ($ Billions): $16.78
- Budget Limit Growth ($ Billions): 5.58%
- Cost per person of budgeting more than pop+inf over the last decade in 2022 budget: $1,034.20
- Cost per family of 4 of budgeting more than pop+inf over the last decade in 2022 budget: $4,136.79
- Cumulative cost per person of budgeting more than pop+inf over the last decade: $2,450.64
- Cumulative cost per family of 4 of budgeting more than pop+inf over the last decade: $9,802.54
Other Considerations
- Economic Freedom (2020) (Rank): 42 [Fraser Institute]
- State Tax Collections Per Capita (FY2021) ($): $3,965 [Tax Foundation]
- State Tax Collections Per Capita (FY2021) (Rank): 16 [Tax Foundation]
- State-Local Total Tax Burden per Capita (2022) ($): $6,948 [Tax Foundation]
- State-Local Tax Burden per Capita (2022) (%): 11.40% [Tax Foundation]
- State-Local Tax Burden per Capita (2022) (Rank): 36 [Tax Foundation]
- Top Income Tax Rate (2023) (%): 5.99% [Tax Foundation]
- Top Income Tax Rate (2023) (Rank): 33 [Tax Foundation]
- Flat or Progressive Income Tax (2023) (Flat/Progressive/Zero): P [Tax Foundation]
- Overall State Business Tax Climate Index (2023)(Rank): 42 [Tax Foundation]
- Corporate Income Top Tax Rate (2023) (%): 7.00% [Tax Foundation]
- Corporate Income Top Tax Rate (2023) (Rank): 20 [Tax Foundation]
- State-Local Sales Tax Rate (2023) (%): 7.00% [Tax Foundation]
- State-Local Sales Tax Rate (2023) (Rank): 24 [Tax Foundation]
- Property Taxes Paid as a Percentage of Owner-Occupied Housing Value (2021) (%): 1.40% [Tax Foundation]
- Property Taxes Paid as a Percentage of Owner-Occupied Housing Value (2021) (Rank): 13 [Tax Foundation]
- Tax and Expenditure Limit (0-3): 2 [American Legislative Exchange Council]
- Tax and Expenditure Limit (Rank): 3 [American Legislative Exchange Council]
- Right-to-Work Law (2022) (Y/N): N [American Legislative Exchange Council]
- State-Local Spending per Capita (2022) ($): $13,411 [US Government Spending]
- State-Local Spending per Capita (2022) (Rank): 30 [US Government Spending]
- Official Poverty Rate (2020-22) (%): 8.8 [Census Bureau]
- Official Poverty Rate (2020-22) (Rank): 14 [Census Bureau]
- Supplemental Poverty Rate (2020-22) (%): 5.7 [Census Bureau]
- Supplemental Poverty Rate (2020-22) (Rank): 5 [Census Bureau]
- Labor Force Participation Rate (Dec. 2022) (%): 62.90% [Bureau of Labor Statistics]
- Labor Force Participation Rate (Dec. 2022) (Rank): 24 [Bureau of Labor Statistics]