PROVIDENCE, R.I. (WPRI) — Rhode Island lawmakers will return to Smith Hill Tuesday for the start of the new legislative session. R.I. House Speaker Joseph Shekarchi told 12 News he's extremely concerned about the state's roughly $300 million budget deficit. "This year particularly — it's going to be a difficult year," Shekarchi said. "We in Rhode island, as a state, have to live -- like all other Rhode Islanders -- within our means." "The State House is a beautiful building, but I can assure you that there's no printing press in the basement," he continued. "We're not making money. So, we'll have to live with what we have." RELATED: RI on track to finish budget year with $77 million surplus Gov. Dan McKee is expected to outline how he plans to close that gap when he unveils his budget proposal next week. "Everything is on the table," Shekarchi said. "I say that literally, including tax hikes and cuts in spending." Shekarchi said addressing the budget deficit is only one of his legislative priorities this year. He said housing is also near the top of list, as well as devoting more time to overseeing the state's executive branch. "We're going to have oversight hearings on the Washington Bridge, and you can expect oversight hearings on the cyberattack," he said. 12 News asked Shekarchi about whether firearms legislation is on his mind, especially after Senate President Dominick Ruggerio publicly suggested he may drop his longstanding opposition to banning assault weapons. "I try to be a very collaborative person, so I keep an open mind on everything," he said. "I will point out that, since I have been speaker, we've passed more gun safety legislation in Rhode Island than ever before." Shekarchi also expects proposals that progressed, but never passed, in previous sessions to come up again. "I think you could see some restructuring of the [Coastal Resources Management Council]. I think you could see some work around the statute of limitations on child sex crimes. I think the smoking ban at Twin River is another," Shekarchi said. Other Rhode Island leaders have also been weighing in as legislators prepare to return. McKee plans to highlight "health and wellness" in next week's State of the State address, while Providence Mayor Brett Smiley will seek more revenue and control of the city's schools. Close Thanks for signing up! Watch for us in your inbox. Subscribe Now Daily Roundup SIGN UP NOW