Wed March 13, 2013
Proposal to raise State Taxes on Top Earners
A labor-backed coalition is renewing its effort to raise the state income tax for residents who earn more than a quarter of a million dollars.
Rhode Islanders for Tax Equity held a Statehouse news conference Tuesday to urge support for its legislative proposal. It would raise the tax from 5.9 percent to 7.9.
One of the speakers, Rhode Island Federation of Teachers political director Maureen Martin, argued a series of tax cuts have failed to help Rhode Island’s economy. “We have tried tax cuts for the rich for 17 years. We have tried it four different ways and it has not worked. That’s how it’s going to work out; it’s not going to work out. Tax cuts for the rich in Rhode Island have failed.”
Legislative leaders have reacted coolly to proposed tax hikes. Senate President Teresa Paiva Weed says the state should find the money to meet its needs without increasing the income tax.
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