RI revenues $30 million short of expectations

PROVIDENCE—One of the worst recessions since the Great Depression dragged down Rhode Island’s state income by nearly 5 percent during the first quarter.

A state report released Wednesday showed the state collected about $30 million less than expected during the three-month period ending in September.

Department of Administration Director Gary Sasse said it’s unclear when the economy in Rhode Island may start to rebound and generate more money for the state.

Soaring unemployment has pushed personal income tax collections down 4 percent, while sales tax collections were off by about $7.6 million, or roughly 3 percent.

Sasse said Gov. Don Carcieri is meeting with department directors to find additional ways to cut costs.