Home Economy RIPEC: Wealth tax is no solution to state’s fiscal challenges

RIPEC: Wealth tax is no solution to state’s fiscal challenges

RHODE ISLAND is experiencing a major shift in state and local tax revenues, with significant implications for K-12 education, economic opportunity and housing affordability, the according to a new report from the Rhode Island Public Expenditure Council. 
THE R.I. PUBLIC EXPENDITURE COUNCIL on Tuesday urged policymakers not to support the latest legislation being proposed to raise income taxes on the state’s highest earners.

PROVIDENCE – The Rhode Island Public Expenditure Council is expressing concerns about legislation that would increase the state’s top income tax rate from 5.99% to 8.99% for income exceeding $625,000, a change that would represent a 50% hike aimed at high-income earners. RIPEC said in a report published Tuesday that the state could face long-term

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