House Finance Committee Chairman Helio Melo said the oft-debated restructuring of Rhode Island’s income tax code under Governor Don Carcieri has resulted in more annual revenue, and that the wealthy are paying more than they did prior to the changes.
“I don’t think we cut income tax on the wealthy,” he told me last night, before sitting down for the first evening of the legislative session. “I think they actually pay more than they have in the past. We took away a lot of exemptions when we did that.”
He also said the changes top-down changes have resulted in more revenue, too.
“I think we are seeing more money coming in with personal income tax so if we just look at it that way I would say yes. Does it mean we are getting more jobs? I’m not too sure about that…”
You can listen to our conversation here, including voter ID (Melo: “I don’t have a problem with it.”) and later today I’ll be post my conversation with Rep. Maria Cimini about tax equity and her contrasting thoughts on it: