Read reports from our national colleagues about how the smallest state in the union compares when it comes to the economic health of the state and its residents.
A new analysis from the Institute on Taxation and Economic Policy reveals a federal tax reform plan based on President Trump’s April outline would fail to deliver on its promise of largely helping middle-class taxpayers, showering 61.4 percent of the total tax cut on the richest 1 percent nationwide. In Rhode Island, the top 1 percent of the state’s residents would receive an average tax cut of $86,610 compared with an average tax cut of just $430 for the bottom 60 percent of taxpayers in the state. The 50-state analysis examines the overall effect of the Trump tax plan on federal revenue as well as its impact on taxpayers in each of the 50 states. In sum, the plan would lose $4.8 trillion in federal revenue over the next decade.
A new Center on Budget and Policy Priorities report finds SNAP helps form a strong foundation of health and well-being for low-income children by lifting millions of families out of poverty, improving food security, and helping improve health and academic achievement with long-lasting consequences.
About 1 in 3 Rhode Island children receive SNAP benefits. Benefits are modest, but they’re well-targeted to the families that need them the most. While participating families with children in Rhode Island receive an average of $352 each month, those with incomes below 50 percent of the poverty line get $468. That’s one reason why SNAP helps lift more children out of deep poverty than any other government assistance program.
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