It is time to turn up volume on silent spending

To ensure Rhode Island uses its available resources in the most effective way possible, it’s time to subject tax breaks, that cost the State over $1.7 billion a year, to the same scrutiny given to money spent through the state budget. Like other states, Rhode Island increasingly writes into law provisions that allow people or businesses to reduce their taxes …

Enhancing the Economic Security of Low-Income Working Rhode Islanders by Increasing the State’s Earned Income Tax Credit Refund

The Earned Income Tax Credits (EITC) is widely recognized as an effective, short-term tool for lifting low-income working families out of poverty by encouraging work and supplementing low wages.  Rhode Island should enhance the effectiveness of its state EITC by increasing the refund available to low-wage workers.  This would put money in the pockets of low-income working households that could …

Corporate tax cuts should be offset with cuts in corporate tax expenditures

Everyone wants to get the Ocean State’s struggling economy back on track, and there is a wide range of ideas and significant debate about how best to make progress. The Governor has proposed cutting the state’s corporate income tax as a way to move the economy forward. With a price tag of almost $90 million over five years, the proposed …

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 …