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A campaign to raise much-needed revenue for Rhode Island by ensuring the top 1% of earners contribute their fair share.

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A campaign to raise much-needed revenue for Rhode Island by ensuring the top 1% of earners contribute their fair share.

Our Proposal

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  • 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