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  • Rhode Island Business Community Unites Against Tax Increases

    Rhode Island Business Community Unites Against Tax Increases

    A coalition of more than twenty business organizations, including ten Chambers of Commerce, has released a letter they sent to Governor Dan McKee, thanking him for his pledge not to increase taxes in his FY 2022 budget and highlighting their opposition to various tax increases proposed by members of the Rhode Island General Assembly.
     
    “Tax hikes have a chilling effect on small businesses in Rhode Island,” said Melissa Travis, President/CEO of the Rhode Island Society of Certified Public Accountants. “While most of these tax increases are perceived to be “a wealth tax” the simple truth is that thousands of Rhode Island small businesses would be negatively impacted because small business owners report their income on their personal tax returns. It’s disappointing that some legislators do not understand Rhode Island’s tax policies but are willing to raise taxes to score political points.”
     
    “The tax increases being proposed will make us less competitive with our neighboring states and will undermine Rhode Island’s recovery from the pandemic,” said Michael DiBiase, President and CEO of the Rhode Island Public Expenditure Council. “Moreover, we do not need additional tax revenue to have a balanced budget this year. Relief money from the federal government will be more than sufficient to address any pandemic-related deficit, and will give policymakers time to find efficiencies in spending or more advisable ways to raise revenue.”
     
    “Rhode Island businesses have struggled to stay open and take care of their employees throughout the pandemic, and any tax increases will have a devastating impact on our economic recovery,” said Laurie White, President of the Greater Providence Chamber of Commerce. “It is wrong to increase taxes and stifle job growth when employers want to make investments in their businesses and get Rhode Islanders back to work.”
     
    The letter is signed by the following organizations:
     
    Associated Builders and Contractors of Rhode Island
    Central RI Chamber of Commerce
    East Bay Chamber of Commerce
    East Greenwich Chamber of Commerce
    East Providence Chamber of Commerce
    Greater Newport Chamber of Commerce
    Greater Providence Chamber of Commerce
    Narragansett Chamber of Commerce
    National Federation of Independent Business
    Northern RI Chamber of Commerce
    North Kingstown Chamber of Commerce
    Partnership for Rhode Island (corporate members)
    Rhode Island Association of Realtors
    Rhode Island Business Group on Health
    Rhode Island Hospitality Association
    Rhode Island Lumber and Building Materials Dealers Association
    Rhode Island Manufacturers Association
    Rhode Island Public Expenditure Council
    Rhode Island Society of Certified Public Accountants
    Rhode Island Staffing Association
    Southern Rhode Island Chamber of Commerce

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