Rhode Island’s Estate Tax: A Vital Tool for Broadly Shared Prosperity

Rhode Island’s estate tax provides revenues vital for a strong economic foundation for shared prosperity. Eroding the estate tax by increasing the exemption level has reduced revenues needed for the services we need to improve Rhode Island’s economy today and into the future. In addition to raising revenues needed for investment in public services that build a strong economy, robust …

Transparency and Accountability for Economic Development Tax Incentives

The Rhode Island Economic Development Tax Incentives Evaluation Act of 2013 requires state analysts to conduct cost-benefit analyses of a number of the state’s economic development tax incentives. The law requires the Governor to include recommendations for continuing, modifying or terminating recently evaluated incentives in her proposed budget. Credits are evaluated every three years. The first set of evaluations was scheduled to be produced …

Response to the State’s 2015 Tax Credit and Incentive Report

Report shows RI gave up close to $30 million in revenue to five tax credits last year PROVIDENCE, RI (August 18, 2015) – The most recent legislative session continued to be dominated by debate about how best to spur Rhode Island’s economy.  Lawmakers maintained their focus on tax credits and incentives as a primary economic development strategy and created several …

2015 Legislative Outcomes

 July 07, 2015 This year the Institute informed and influenced the debate on a host of policy issues related to tax policy, child care, and health care. Here is a summary of several policy changes that will have an impact on the fiscal health of Rhode Island and its residents.  Click here to download the document. Earned Income Tax Credit …

Highlights from Governor Raimondo’s FY16 Budget

Governor Raimondo released her first budget last week. We have highlighted five areas that are important to the fiscal health of the state and its residents. Making work pay The Governor proposes to expand the state’s Earned Income Tax Credit which would allow working families to keep more of their paycheck. And while not a budget item, the Governor supports …

Policy Outcomes 2014

The Institute informed and influenced the debate on a host of policy issues related to affordable child care, workforce development, and tax policy. This brief summary highlights several policy changes that will have an impact on the fiscal health of Rhode Island and its residents. Child care expansions extended Two important expansions made to the Child Care Assistance Program last …

Few Winners and Many Losers in RI Tax Reform

The budget passed by the House Finance committee made three significant tax policy changes that will impact the income of tens of thousands of Rhode Islanders. The estate tax, earned income tax credit, and property tax relief program were all dramatically altered in the budget. Read the Institute’s full analysis and June 6th and June 16th press releases. The clear winners are …

Corporate Tax Cuts Are Risky Business

Everyone in Rhode Island wants the same thing: a stronger economy with good jobs that help families to build a future. But tax cuts that some propose won’t create this path to prosperity. Tax cuts have but a negligible effect on creating jobs and generating economic activity.  What really works is investing in schools, transportation, and safe communities; helping entrepreneurs …

Improve Rhode Island’s Earned Income Tax Credit to Help Hard-working Rhode Islanders

March 31, 2014 The Earned Income Tax Credit (EITC) is widely recognized as one of the most effective policies at keeping low-income working families out of poverty by supplementing wages and encouraging work. It is estimated that the federal EITC kept 6.5 million working Americans out of poverty in 2012. Rhode Island is among 25 states and the District of …

Statement regarding proposals to repeal or reduce Rhode Island’s sales tax

 Kate Brewster, Executive Director       I am honored to have participated on the Commission.  I appreciate that all of the members are deeply concerned about the state’s economy and eager to enact policies that will help grow jobs in our state. Costly, broad-based tax cuts of any form, however, are not the solution to building Rhode Island’s economy. Given all …