Rhode Islanders Rally for Tax Equity Bill

Rhode Islanders for Tax Equity held court in the rotunda of the State House this afternoon, explaining why it’s good for the state’s economy – as well as a moral imperative in tough economic times – to raise taxes on the rich.

The bill would raise the income tax rate for those making more than $250,000 – the richest 2 percent of the state – from 5.99 percent to 9.99 percent, with the caveat that for every one percentage point the unemployment rate drops so too would the tax increase, and the group estimates it could bring in $118 million in new revenue for the ailing state coffers.