Less money, more problems
By Nancy Lavin, Rhode Island Current
In December 2023, the phone calls and emails to House Speaker K. Joseph Shekarchi came fast and furious, with advocates and lobbyists eager to make their pitches early ahead of the upcoming legislative session.
This year: silence.
Hasbro Inc. has yet to ask for any kind of tax break or policy change that could keep the century-old Ocean State fixture from moving its local headquarters to Massachusetts. No word from the developers of the “Superman” building, despite news reports of its request for additional funding from the city of Providence for the $220 million project. Not even a peep from the grassroots advocacy groups whose perennial demands for payday lending reform or an assault weapons ban remain unmet.
“I think even the advocates are getting it this year,” Shekarchi said in an interview on Dec. 16. “They still want their priorities, yes, but they know we don’t have the money. It just doesn’t exist.”
A structural deficit estimated at $330 million in the latest forecasts and revenue reports from state budget-crunchers looms large as the start of the 2025 legislative session approaches, weighing heavily on Shekarchi, who as House Speaker controls the purse strings for the state’s fiscal 2026 budget.
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