A campaign to raise much-needed revenue for Rhode Island by ensuring the top 1% of earners contribute their fair share.
Our Proposal
- We propose raising revenue for Rhode Island by adding one new tax bracket for the top 1% of earners – from 5.99% to 8.99% on adjusted gross income above $475,000.
- The average adjusted gross income for those impacted is $1 million dollars per year.
- This proposal will have no effect on Rhode Islanders outside of top the 1% (those who earn less than $475,000 will see no change in their tax rate.)
- This proposal impacts approximately 5,000 tax filers.
- This proposal will generate an estimated $128.2 million in new revenues.
These revenues can be used for:
Schools and our children’s education
Infrastructure improvements (roads and bridges)
Increased state funding to cities and towns, and potentially lower property taxes
Programs for our elderly residents, individuals with developmental disabilities and those who care for them.
Increased funding for our Veterans Home
And much more!
This proposal will only impact the top 1% of earners (and only applies to income above $475,000.)
*These examples use Rl’s 2020 tax brackets; the inflation-adjusted brackets for 2021 will likely make the above estimates slightly high.
This proposal will ensure the top 1% pays a percentage of their income similar to the middle 60% of filers.
The New Brackets
News
March 14, 2020
Pi Day flyer highlights inequality in America – using pies!
WPRO Radio
March 2, 2020
Senate Finance Chair William Conley discusses our proposal with Dan Yorke on WPRO Radio
Dan Yorke State Of Mind
March 2, 2020
Senate Finance Chair William Conley discusses our proposal on Dan Yorke State Of Mind
WPRI
February 25, 2020
Proposed Legislation Looks to Raise Taxes on RI’s Highest Earners
The Public’s Radio
February 25, 2020
Labor-backed coalition calls for raising income tax on affluent Rhode Islanders
Providence Journal
February 25, 2020
RI General Assembly to Consider Competing Plans to Raise Taxes on High Earners
GoLocal Prov
February 21, 2020
Coalition Led by Unions Launching Campaign to Increase Tax on Top 1% in Rhode Island
CBS News
January 31, 2020
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