Woonsocket City Council President John Ward is concerned that jobs provided by CVS Caremark Corporation could vanish if the company loses a big chunk of a state tax credit.
"Based on their reaction, I'm a little concerned," Ward said, referring to how CVS lobbyist Robert Goldberg said the company may reconsider its ties to Rhode Island if it loses part of a job development tax credit worth about $15 million a year.
Gov. Lincoln Chafee says the findings in a new report are part of the process of improving Rhode Island’s economy.
The report centers on the state’s business climate and found Rhode Island has made some progress in cutting taxes but they’re still perceived as being a potential roadblock to attracting new business. It also found gaps in funding for start ups.
Chafee says the process is part of what he calls a methodical approach his administration is using to target a better economy.
Gov. Lincoln Chafee joins Political Roundtable this week to talk about his budget, Rhode Island's economy, and regional competition for a better tax climate. Also joining me in the discussion are RIPR political analyst Scott MacKay and guest panelist David Klepper from the Associated Press.
Governor Lincoln Chafee is winning a measure of plaudits for a budget with no new taxes and a proposed cut of the corporate tax from 9 percent to 7 percent over three years. But a tax initiative by Massachusetts Governor Deval Patrick is raising uncertainly about the net effect of Chafee's initiative.
The state Democratic Party has sent out a series of news releases criticizing Republican congressional candidate Brendan Doherty over the Bush tax cuts. The GOP candidate’s camp responds by saying that Doherty favors even broader cuts.
Doherty campaign spokesman Ian Prior explains Doherty’s stance this way: