- We propose raising revenue for Rhode Island by adding one new tax bracket for the top 1% of earners – from 5.99% to 8.99% on adjusted gross income above $475,000.
- The average adjusted gross income for those impacted is $1 million dollars per year.
- This proposal will have no effect on Rhode Islanders outside of top the 1% (those who earn less than $475,000 will see no change in their tax rate.)
- This proposal impacts approximately 5,000 tax filers.
- This proposal will generate an estimated $128.2 million in new revenues.
Related Reading
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What Did 2025 State Tax Changes Mean for Racial and Economic Equity?
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State Tax Watch 2026
January 22, 2026
State Rundown 1/22: Cautious Tone Noticeable in Most Statehouses
Mentioned Locations
Rhode Island