Rhode Island
What slowdown? RI revenues revised up $80M despite recession fears.
Everything you need to know about a recession
Economic downturns and falling stock markets can bring hardship and fear. Here’s what you should — and shouldn’t — do when a slump looms.
The Republic
Despite concern that the national economy is at risk of a recession, Rhode Island revenue collections have been revised up nearly $80 million for this year and next, according to new projections from state fiscal analysts.
The latest projections, released Friday, May 9, show state revenue for the year ending June exceeding expectations by $60.7 million.
And they predict revenue in the fiscal year starting July 1 to be $19.3 million higher than they expected last November.
The rosier-than-expected revenue forecast will take some pressure off House Democratic leaders writing a state budget for next year by eating into what had been a projected $250 million budget deficit.
Legislative leaders take a conservative stance
Despite state revenues continuing to climb, General Assembly leaders remained downbeat, at least in part to discourage their members from demanding lots of new state spending.
“The revenue results preview the effects of the weakening U.S. economy linked to turmoil in Washington, D.C., House Speaker K. Joseph Shekarchi said in an email. “Any short-term positive news is overshadowed by the magnitude of that uncertainty and the many related or unsolved budget issues.”
New Senate President Valarie Lawson and Senate Finance Committee Chairman Louis DiPalma said: “While we are pleased that revenue and caseload estimates remain relatively stable compared to the estimates made in November, we are experiencing a more challenging budget, and more difficult choices, than in recent years.”
Tax revenues climbing, with one exception
The new numbers from the twice-a-year Revenue Estimating Conference expect current-year revenue to reach $5.6 billion on increases in personal income tax, corporate tax, utility tax, insurance premium tax, cigarette tax, alcohol tax, estate tax and lottery profit. The major exception to the upward tax revisions was sales tax, which is now expected to come in $22 million short of the November estimate.
At the end of April, economists from Moody’s Analytics told the Revenue Estimating Conference that they expect the economy to slow in the years ahead and unemployment to rise, but stopped short of predicting recession.
Looking forward to next year, the revenue estimators predict collections of $5.7 billion on a modest increase in personal income tax, insurance tax and lottery collections. They expect sales tax to continue to slide back next year.
Rhode Island
Rhode Island Department of Health issues overdose alert for Johnston, North Providence
The Rhode Island Department of Health issued an overdose spike alert for Johnston and North Providence.
Health officials said over the past week, five Johnston and North Providence residents received medical care for a drug overdose.
According to RIDOH, these municipalities have historically lower overdose rates than the statewide average.
BE THE FIRST TO COMMENT
Residents can visit Prevent Overdose RI connect with community harm reduction organizations and find treatment.
Rhode Island
RI Lottery Mega Millions, Numbers Midday winning numbers for May 12, 2026
The Rhode Island Lottery offers multiple draw games for those aiming to win big.
Here’s a look at May 12, 2026, results for each game:
Winning Mega Millions numbers from May 12 drawing
17-32-35-40-47, Mega Ball: 17
Check Mega Millions payouts and previous drawings here.
Winning Numbers numbers from May 12 drawing
Midday: 1-5-2-0
Evening: 1-6-0-3
Check Numbers payouts and previous drawings here.
Winning Wild Money numbers from May 12 drawing
23-27-29-31-35, Extra: 12
Check Wild Money payouts and previous drawings here.
Winning Millionaire for Life numbers from May 12 drawing
19-21-35-38-53, Bonus: 01
Check Millionaire for Life payouts and previous drawings here.
Feeling lucky? Explore the latest lottery news & results
Are you a winner? Here’s how to claim your prize
- Prizes less than $600 can be claimed at any Rhode Island Lottery Retailer. Prizes of $600 and above must be claimed at Lottery Headquarters, 1425 Pontiac Ave., Cranston, Rhode Island 02920.
- Mega Millions and Powerball jackpot winners can decide on cash or annuity payment within 60 days after becoming entitled to the prize. The annuitized prize shall be paid in 30 graduated annual installments.
- Winners of the Millionaire for Life top prize of $1,000,000 a year for life and second prize of $100,000 a year for life can decide to collect the prize for a minimum of 20 years or take a lump sum cash payment.
When are the Rhode Island Lottery drawings held?
- Powerball: 10:59 p.m. ET on Monday, Wednesday, and Saturday.
- Mega Millions: 11:00 p.m. ET on Tuesday and Friday.
- Lucky for Life: 10:30 p.m. ET daily.
- Millionaire for Life: 11:15 p.m. ET daily.
- Numbers (Midday): 1:30 p.m. ET daily.
- Numbers (Evening): 7:29 p.m. ET daily.
- Wild Money: 7:29 p.m. ET on Tuesday, Thursday and Saturday.
This results page was generated automatically using information from TinBu and a template written and reviewed by a Rhode Island editor. You can send feedback using this form.
Rhode Island
‘Millionaires tax’ at a crossroads as RI’s budget finds unexpected windfall
RI House speaker answers why RI won’t ‘pause’ millionaires tax push
House Speaker K. Joseph Shekarchi fielded a question on whether lawmakers might pause efforts to pass a millionaires tax.
The fight over Rhode Island’s proposed “millionaires tax” is intensifying as lawmakers prepare their version of the state budget for the year with an unexpected $233 million tax collection windfall.
The business-backed Rhode Island Public Expenditure Council, one of the groups leading opposition to higher taxes on the wealthy, on May 12 released a new report arguing that states with higher income tax rates see more people leaving for states with lower rates.
“Given the experience of Massachusetts and the positive net migration of Bay State residents to Rhode Island over the last several years, it would be particularly risky to adopt a top income tax rate that could undermine this trend,” said RIPEC CEO Michael DiBiase. “Taking on this risk is even more unwise given the recent news that state revenues will be $233 million greater than expected. There is no need to raise taxes – instead the state should focus on fiscal discipline and growing the economy.”
Massachusetts began collecting a 4% surcharge on income over $1 million in 2023 and Rhode Island leaders hoped rich Bay State residents put off by the hike would move to Rhode Island.
On the other side of the issue, the left-leaning Economic Progress Institute argued that the better-than-expected state revenue collections, while welcome, do not cover all of the money Rhode Island could be potentially losing due to cut in last year’s One Big Beautiful Bill Act.
The Economic Progress Institute is pushing for a more aggressive tax increase − a 3% surtax on income over $640,000 − than McKee’s proposal where the higher tax rate would kick in at income over $1 million.
“It remains imperative the General Assembly pass the proposed surtax on the top one percent this year,” the EPI said in a news release. ” The surtax would generate $203 million per year in revenue, which would bring us closer to: bridging the gulf of lost federal funds, preserving critical programs, and closing the many long-standing equity gaps and crises in healthcare, education, housing, childcare, public transit, and so much more.”
Their release comes days after the Service Employees International Union Rhode Island State Council rallied at the State House in support of the “Rhode Island’s Revenue Bill,” the tax on income over $640,000. The May 7 rally could be heard during former House speaker K. Joseph Shekarchi’s farewell address.
What is in new RIPEC report?
RIPEC’s latest report finds that:
- Between 2020 and 2025, states with a higher top income tax rate saw higher net out-migration than states with a lower tax rate
- During the post-pandemic period of strong revenue collections, more states have lowered income taxes than raised them
- More residents moved to Rhode Island from Massachusetts (4,796) than any other state from 2020 to 2023 by a large margin. (New York was second at 1,924.)
- Taxpayers leaving Massachusetts in 2023 were on the wealthier side in 2023, making more than $200,000 per year, compared to 2022.
What does it not show?
The IRS data RIPEC analyzed only covers tax filers who make $200,000 or more in Adjusted Gross Income, so it does not show how Massachusetts residents making more than $1 million, the group whose taxes went up, reacted to the change.
And it does not include migration patterns and tax changes for 2024 or 2025.
In its release urging an income tax increase, the EPI said it estimates the state will lose more than $400 million in federal revenue starting in the fiscal year that starts July1, 202,7 from provisions in the One Big Beautiful Bill Act.
“Lawmakers need to be proactive for the many needs, gaps, and crises we have now as well as what’s to come – including likely more federal cuts and an upcoming fiscal cliff,” the EPI release said. “Our wealthiest Rhode Islanders can afford to do more, especially with an average annual tax break of nearly $59,000 from Washington.”
The millionaires tax in McKee’s budget is estimated to generate $135.3 million in new state revenue in a full year.
The surcharge on the 1% of earners − starting at income of $640,000 per year − is estimated to generate $203 million per year.
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