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 …

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 …

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 …

Transparency and Accountability for Economic Development Tax Incentives

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The Rhode Island Economic Development Tax Incentives Evaluation Act of 2013 requires state analysts to conduct cost-benefit analyses of a number of the state’s economic development tax incentives. The law requires the Governor to include recommendations for continuing, modifying or terminating recently evaluated incentives in her proposed budget. Credits are evaluated every three years. The first set of evaluations was scheduled to be produced …

Response to the State’s 2015 Tax Credit and Incentive Report

Report shows RI gave up close to $30 million in revenue to five tax credits last year PROVIDENCE, RI (August 18, 2015) – The most recent legislative session continued to be dominated by debate about how best to spur Rhode Island’s economy.  Lawmakers maintained their focus on tax credits and incentives as a primary economic development strategy and created several …

2015 Legislative Outcomes

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 July 07, 2015 This year the Institute informed and influenced the debate on a host of policy issues related to tax policy, child care, and health care. Here is a summary of several policy changes that will have an impact on the fiscal health of Rhode Island and its residents.  Click here to download the document. Earned Income Tax Credit …

Highlights from Governor Raimondo’s FY16 Budget

Governor Raimondo released her first budget last week. We have highlighted five areas that are important to the fiscal health of the state and its residents. Making work pay The Governor proposes to expand the state’s Earned Income Tax Credit which would allow working families to keep more of their paycheck. And while not a budget item, the Governor supports …

Policy Outcomes 2014

The Institute informed and influenced the debate on a host of policy issues related to affordable child care, workforce development, and tax policy. This brief summary highlights several policy changes that will have an impact on the fiscal health of Rhode Island and its residents. Child care expansions extended Two important expansions made to the Child Care Assistance Program last …

Few Winners and Many Losers in RI Tax Reform

The budget passed by the House Finance committee made three significant tax policy changes that will impact the income of tens of thousands of Rhode Islanders. The estate tax, earned income tax credit, and property tax relief program were all dramatically altered in the budget. Read the Institute’s full analysis and June 6th and June 16th press releases. The clear winners are …