Tax day rally call for higher business taxes
Providence, RI – Social justice advocacy group Ocean State Action is holding a rally on tax policy today. The group wants to close corporate tax loopholes, and enact combined reporting, where companies would have to report their total earnings if they have offices in Rhode Island as well as out of state. Ocean State Action Executive Director Kate Brock says making companies report their total earnings is a way to make corporations pay their share into the state budget. "They still drive on our roads, they still benefit from our workforce which is a function of our public education system," she explained. The police still show up at their businesses - so they need to pay for those services too."
Many business leaders oppose increases in corporate taxes, saying it could jeopardize the economic recovery. Ocean State Action is also calling for a 2 percent tax on individuals whose incomes are over half-a-million dollars per year.
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