Legislation could raise tax for high earners
The House Finance Committee heard legislation sponsored by Rep. Maria Cimini to temporarily raise the state income tax for the highest earners to pay for the state’s increased costs during this economic downturn. The increase would put the tax rate on income over $250,000 back to 9.99 percent, where it was before it was reduced to 5.99 percent in 2011. The rate would be reduced as the unemployment rate goes down, until it returns to 5.99 percent. Sen. Joshua Miller is sponsoring the bill in the Senate.
The House Finance Committee also held hearings on legislation sponsored by Rep. Grace Diaz to allow students who attended a Rhode Island high school for at least three years and obtained a diploma to qualify for in-state tuition at Rhode Island’s public higher educational institutions, regardless of immigration status. Sen. Juan M. Pichardo is sponsoring the companion bill, which had a hearing in the Senate Finance Committee. At the same meeting, the committee heard a bill sponsored by Rep. Doreen Costa to prohibit anyone who cannot prove U.S. citizenship or permanent residency from receiving in-state tuition rates and fees at public higher education institutions. Sen. Glenford J. Shibley is sponsoring the legislation in the Senate.