$325M tax cuts & business incentives to attract investment
We’ve strengthened our economy. That’s enabled us to cut the income tax for the fourth year in a row and we’ll do it again this year. All told, we’ll ease the tax burden on families by $204 million dollars. And when you tally up all of the incentives
we’ve put in place for business, it’s over $121 million. That’s encouraging existing companies to expand, and it’s attracting new investment to our state.
Source: State of the State Address to Rhode Island Legislature
Feb 7, 2001
Regional transportation network to foster trade & economy.
Almond signed the New England Governors' Conference resolution:
WHEREAS the Conference of New England Governors and Eastern Canadian Premiers encourages initiatives furthering economic cooperation and trade development within the region; and
WHEREAS the Conference recognizes the vital importance of effective and efficient transportation links in furthering economic cooperation and trade development; and
WHEREAS improvement in the road, rail, marine, and air transportation links between the Eastern provinces and the New England states would contribute to a better and more integrated transportation system, and that transportation services would benefit from better harmonized, simplified and efficient standards and regulations supporting a competitive economy and trade development;
NOW, THEREFORE, BE IT RESOLVED THAT the Conference of New England Governors and Eastern Canadian Premiers fully recognize multimodal transportation systems, transportation corridors and links, as strategic issues to be addressed in the mandate and work plan of the Trade and Globalization Committee and encourage road, rail, marine and air operators to assist the Committee towards strengthening transportation services and infrastructure.
Almond adopted the National Governors Association policy:
The Governors are particularly concerned that bankruptcy reform legislation address the following issues:
Prevent Chapter 7 Use by Those with the Ability to Pay: Present bankruptcy law does not prevent use of Chapter 7 by those with ability to repay, nor does it require that debtors use Chapter 13, which would require them to repay creditors what the debtor can afford. The Governors strongly support federal efforts to prevent debtors from using Chapter 7 when they are financially able to pay some or all of their unsecured debts.
Encourage Payment of Domestic Support Obligations: Bankruptcy interferes significantly with states’ ability to assist citizens owed domestic support and to collect unpaid domestic support owed them. The Governors strongly encourage Congress to ensure that any federal bankruptcy reform requires that domestic support obligations have the highest possible repayment priority, that all domestic support obligations be nondischargeable,
and that commencement of bankruptcy not prevent the continued collection of child and other support obligations.
Give State Claims Parity with Federal Claims in Bankruptcy: Today, bankruptcy rightly gives certain preferences in payment to federal claims against the bankruptcy estate, but similar treatment is not always accorded state claims. The Governors strongly support congressional efforts to reform the treatment of state claims in bankruptcy to provide parity of treatment with federal claims.
Protect the State Role: The Governors oppose efforts to preempt state authority to determine exemptions under state bankruptcy law. Currently, debtors have a right to choose between federal and state exemptions. The Governors support efforts to shape bankruptcy reform policy that protects the rights of states to determine their own standards instead of having uniform federal regulations imposed without regard for individual state needs.
Source: NGA Economic Development Policy EDC-21: Bankruptcy Reform 01-NGA2 on Feb 15, 2001
Uphold commitments to states before other spending.
Almond adopted the National Governors Association position paper:
The Issue
The major budget issue will be over the surplus and how big of a surplus there will be. How much will be dedicated to paying down the national debt, how much to tax cuts, how much to increase defense spending, what to do about key discretionary spending programs, and whether and how to change key entitlement programs, such as Medicaid, Medicare, and Social Security? How these decisions are made could have significant impacts on the federal-state partnership, especially as they affect vital health and human services programs. What will happen to funding for priority state domestic discretionary programs for the federal fiscal year? When will Congress act?
NGA’s Position
Before considering new spending initiatives or tax cuts, the federal government must first uphold its current commitments to the states.
Source: National Governors Association "Issues / Positions" 01-NGA8 on Sep 14, 2001
