Regarding Proposals to Increase Taxes on Upper-Income Rhode Islanders
reportMy testimony focuses in general on the slate of bills in front of the committee today that would raise taxes on wealthy Rhode Islanders. These bills present Rhode Island policymakers sensible revenue-raising options that could be used to either prevent deeper spending cuts or restore spending to vital public investments such as education, health care, and transportation to name a few. Adding additional income tax brackets and raising the top marginal tax rate is also the most significant opportunity Rhode Island policymakers have to improve tax fairness while at the same time raising revenue.