Dan McKee on Budget & Economy

	Dan McKee on Budget & Economy

$100M housing production bond, largest in state history

In addition to the new housing tools passed last year, the budget I'll propose will call for a $100 million housing production bond on the ballot. This would be the largest housing production bond in our state's history. And we're going to ensure that-- if approved by the voters--these dollars will create more inventory and help put young people on a path to homeownership in our state. We know that homeownership is one of the top ways to build generational wealth. Let's get it done. Source: 2024 State of the State Address to the R.I. legislature , Jan 17, 2024

Quarter billion dollar investment in creating more housing

Housing is one of the most critical issues facing Rhode Island today and over the next decade. That's why our Administration proposed a once-in-a-generation, quarter-billion dollar investment in creating and supporting more housing at all income levels. We have over $90 million in funding from the historic $250 million available for developers. And 39 projects have already been funded that are anticipated to create or preserve over 1,000 units of affordable housing. Source: 2023 State of the State Address to the R.I. legislature , Jan 17, 2023

$2B for 137 state infrastructure projects moving forward

The budget surplus and economic stimulus funding from the federal government has put us in a position to make a record-setting investment in Rhode Island and in the people of Rhode Island. In addition to economic development projects happening across the state through public and private partnerships over the next several years, we will also have 137 state infrastructure projects totaling nearly $2 billion moving forward. Source: 2023 State of the State Address to the R.I. legislature , Jan 17, 2023

Make a once in a generation investment in our housing stock

For Rhode Island to be an attractive place to live, work, and raise a family, we must address the availability of housing. Rhode Island has historically underinvested in housing. We are experiencing a housing shortage in part because too few units have been built over several years. In 2020, we built fewer units per capita than any other state in New England. Let's come together again and allocate a quarter billion dollars to make a once in a generation investment in our state's housing stock.

Did you know that homeownership is one of the most important ways to build generational wealth, yet Rhode Island has one of the lowest homeownership rates in the country, largely because families and individuals cannot afford the down payment? It's time to change that. That's why I will be sending the General Assembly a proposal for investing $50 million to provide down payment assistance to Rhode Island households who need it most.

Source: 2022 State of the State Address to Rhode Island legislature , Jan 18, 2022

I understand that budgets reflect priorities and policy

[On COVID recovery]: "We're digging in now and I think we will be prepared to understand what we are looking at and that's an important thing," McKee said. "You can understand what the options might be based on real numbers and I think that is what I always did as mayor," he said. "I understand that budgets reflect priorities and policy and so I'm looking forward to trying to work through this budget even if it is on short time frame," McKee said. Source: The Independent on 2022 Rhode Island Gubernatorial race , Jan 21, 2021

Strong supporter and advocate for local small business

Since becoming lieutenant governor, McKee has spent much of his time promoting and advocating on behalf of small businesses. During the pandemic, he's used the office as a bully pulpit to call for greater support for the business community. When asked about his greatest achievement as lieutenant governor, McKee pointed to his support of the business community, namely during the pandemic. "That's probably the highlight," he said. Source: WPRI on 2022 Rhode Island Gubernatorial race , Jan 7, 2021

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