Two Steps Forward, Three Steps Back: Governor Carcieri’s FY2011 Proposed Tax Policies

Tax Policy Proposals in the Proposed FY2011 Budget Governor Carcieri’s proposed FY 2011 budget totals $7.5 billion and includes spending and revenue changes to close a $427.4 million deficit.  The tax policy proposals contained in the Budget include the repeal of two tax credits that will increase revenues by $3 million.  This increase is offset, however, by a corporate tax …

Rhode Island’s “47%”

October 17, 2012 Check out our infographic that describes who doesn’t pay federal income tax in Rhode Island.

Testimony in support of improving accountability in tax expenditures

May 09, 2012 Submitted by Kate Brewster, May 8, 2012 Thank you Chairman and members of the committee for holding this important hearing today.  The bills before you introduced by Representative Tanzi would provide basic, fundamental tools for policymakers and taxpayers to be able to evaluate the effectiveness and efficiency of the 227 tax credits, deductions, and exemptions contained in …

Investing in the Building Blocks of Economic Growth

April 23, 2012 Raising Revenue on High-Income Households in Rhode Island Rhode Island’s recovery and future competiveness depend on our ability to educate our current and future workers through strong schools, affordable higher education, and effective job training. In addition, businesses want to grow jobs in communities that are safe, have sturdy roads and bridges, and offer an overall good …

Testimony in support of raising the income tax on high income households

May 09, 2012 Submitted by Kate Brewster, April 24, 2012 The Economic Progress Institute supports revising the personal income tax to add a new  bracket, with a higher tax rate, for upper-income households.  This would improve the equity and adequacy of the personal income tax, generating new revenue to invest in programs and infrastructure to move our economy forward. Adding …

A More Modern Day Sales Tax

March 07, 2012 Rhode Island must continue to update its out of-date sales tax to be able to make investments in education, public safety, transportation and the other services that are necessary to build a strong economy. Rhode Island continues to have one of the most narrow sales tax bases in the country due in part to the large number …

Raising Revenue from High-Income Households in Rhode Island

March 07, 2012 In recent years following the Great Recession, states have responded to the collapse in tax revenue by turning to tax increases on high-income households. The substantial revenue collected as a result can help sustain vital public services, including education, public safety, and infrastructure. Such proposals are being considered in Rhode Island, where a significant number of lawmakers …

Resuscitating Revenues

June 06, 2011 Rhode Island needs a balanced approach to addressing the state’s budget shortfall by including proposals that would raise revenue and not just cut spending.  Three of the largest sources of state revenue – personal income, sales, and business taxes – could be modified to improve the sustainability and adequacy of our state’s tax structure. Read Resuscitating Revenues (PDF)

Governor Chafee’s Corporate Tax Reform

April 11, 2011 Governor Chafee’s proposal to shut down corporate loopholes and eliminate unnecessary tax credit programs for only a handful of companies is a step in the right direction towards leveling the playing field between large and small businesses and improving the state’s long-term fiscal health. Tax Facts Corporate Tax Reform 2011 (PDF, 390KB)