Policy Agenda - A Sound Tax Structure
A sound tax structure is critical to providing adequate funding for vital public services.
The Economic Progress Institute supports the following policy changes.
- Tax Expenditure Reform: Tax expenditures should have a stated purpose and sunset provision, a date on which the expenditure will expire and be removed from the tax code unless the legislature votes to extend it. This form of spending should also be reviewed regulary, just like direct spending on programs and services.
- Personal Income Tax Reform: Rhode Island's personal income tax structure should be more progressive, requiring households with higher incomes to pay a higher tax rate than the current 5.99 percent.