Understanding Rhode Island’s Motor Vehicle Tax

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Summary of Rhode Island’s Car Tax The Motor Vehicle Tax (commonly known as the “Car Tax”) is a property tax collected by each Rhode Island municipality based on the value of each motor vehicle owned. There are three components that determine how much each individual car is taxed: valuation, tax rate and exemption. The valuation of the motor vehicle is …

Improving a Common Sense Tax Credit for Working Rhode Islanders: Increase the Rhode Island Earned Income Tax Credit

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Improving a Common Sense Tax Credit for Working Rhode Islanders: Increase the Rhode Island Earned Income Tax Credit All Rhode Islanders want to be able to support their families and live in thriving communities. Yet, far too many working Rhode Islanders are struggling to pay for housing, heat, food, and health care.  Increasing Rhode Island’s refundable Earned Income Tax Credit …

Budget Highlights: FY2018 Budget

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INTRODUCTION The Governor’s FY2018 budget (“the budget”) totals $9.3 billion, an increase of $47.5 million over the revised FY2017 budget. This includes $3.8 billion in general revenue (increased by $92.3 million from revised 2017) and $3.1 billion in federal funds (a decrease of $16.3 million from revised 2017) with the balance from restricted receipts and other sources. The budget proposal …

Race, Ethnicity, and Jobs in Rhode Island

Race, Ethnicity, and Jobs in Rhode Island

Communities & Banking, Winter 2017 Doug Hall, Economic Progress Institute Rhode Island’s minority workers were hit harder by the Great Recession than their white counterparts and historically have experienced higher rates of unemployment and lower median wages.   READ THE REPORT *Disclaimer: This Communities & Banking article is copyrighted by the Federal Reserve Bank of Boston. The views expressed are …

The Status of Working Women in Rhode Island 2017

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This report examines the status of women in Rhode Island’s economy, documenting the economic challenges women continue to face and the ongoing disparities between women and men in terms of wages, earnings and poverty rates.  The report was done in partnership with The Women’s Fund of Rhode Island, representing data collected in 2015 and 2016. READ THE REPORT READ THE …

Income Inequality in Rhode Island: A Snapshot

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The newly released Center on Budget and Policy Priorities report, How State Tax Policies Can Stop Increasing Inequality and Start Reducing It, shows that the concentration of income among the wealthiest residents is striking in every state. Over the last three decades, income gains in the American economy have accrued largely to the richest households, while many middle and lower-income …

More Rhode Islanders Have Health Insurance in 2015

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New Census data show that the percentage of uninsured Rhode Islanders was 5.7 percent in 2015, half the rate it was in 2013, the year before the Affordable Care Act (ACA) went into effect.  In 2014, 7.4% were uninsured. Two new avenues for affordable health insurance made available through the ACA have helped significant numbers of Rhode Islanders gain coverage.  …

2016 Legislative Highlights

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The general assembly enacted a budget for the 2017 fiscal year (July 1, 2016 – June 30, 2017) of $8.94 billion dollars. This includes $3.7 billion in general revenue funds, $3 billion in federal funds, $2 billion in “other” funds (such as the Unemployment Insurance Fund and the TDI fund) and $257 million in restricted receipts. Policymakers made modest investments …

Rhode Island’s Estate Tax: A Vital Tool for Broadly Shared Prosperity

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Rhode Island’s estate tax provides revenues vital for a strong economic foundation for shared prosperity. Eroding the estate tax by increasing the exemption level has reduced revenues needed for the services we need to improve Rhode Island’s economy today and into the future. In addition to raising revenues needed for investment in public services that build a strong economy, robust …