Tax-credit program needs strong oversight to pay off

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BAD FOR TAXPAYERS? Gov. Gina M. Raimondo on Sept. 16 said a new Small Business Development Fund approved by state lawmakers was not good for taxpayers. She supports R.I. Commerce Corp.’s plans to create rules to ensure proper oversight of tax credits approved under the program.
 / PBN FILE PHOTO/
MICHAEL SALERNO
BAD FOR TAXPAYERS? Gov. Gina M. Raimondo on Sept. 16 said a new Small Business Development Fund approved by state lawmakers was not good for taxpayers. She supports R.I. Commerce Corp.’s plans to create rules to ensure proper oversight of tax credits approved under the program.
 / PBN FILE PHOTO/
MICHAEL SALERNO
Economic-development officials took a good step on Sept. 16 in agreeing to create clear rules ahead of the rollout of a new tax-credit program for small businesses. The program’s goals of encouraging private investment in small businesses are laudable. They are the backbone of the Rhode Island economy. And with fears of a looming national…

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