Coalition Led by Unions Launching Campaign to Increase Tax on Top 1% in Rhode Island
Saturday, February 22, 2020
Union officials and other groups will be kicking off a campaign to increase revenues in Rhode Island -- by increasing the income tax of top earners.
The new group is called the Revenue for Rhode Island Coalition.
Headlining Tuesday's State House press conference will be AFL-CIO President George Nee and legislative leaders Senate Finance Chairman William Conley (D-18, East Providence and Pawtucket) and Representative Karen Alzate (D-60, Pawtucket).
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTEvent organizers include Jim Parisi with the Rhode Island Federation of Teachers and Health Professionals and Brad Dufault with Checkmate Consulting Group.
Parisi is a registered lobbyist for RIFTHP -- there is currently no entity "Revenue for Rhode Island" listed on the state's lobbying website.
The Revenue for Rhode Island coalition will introduce legislation that will raise revenue 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.
For those earning over $500,000, the Coalition in their estimates said that would mean an additional annual tax of $750. (According to materials released by the group, those in that bracket currently pay $27,458 -- the increase would mean the new tax amount would be $28,208).
For those earning $1 million the additional tax would be $15,750.
According to the group’s announcement, the new revenues are needed to support state programs.
“This revenue can be used for schools and public education, infrastructure improvements, increased state funding to cities and towns, funding for our Veterans Home, senior citizens, and individuals living with developmental disabilities, and more. See the attached flyer for more facts and figures,” said the group.
WHAT: Press conference
WHEN: Tuesday, February 25, 2020 at 3:30 p.m.
WHERE: Rhode Island State House Library
WHY: The Revenue for Rhode Island coalition will introduce legislation that will raise revenue 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. This revenue can be used for schools and public education, infrastructure improvements, increased state funding to cities and towns, funding for our Veterans Home, senior citizens, and individuals living with developmental disabilities, and more. See the attached flyer for more facts and figures.
