2014 Government Regulations & Business Summit
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By PBN Staff
The General Assembly is about to convene a series of study commission hearings to examine the possibility of eliminating the state’s sales tax.
Gov. Lincoln D. Chafee has previously proposed lowering the tax rate while broadening its application in order to increase the state’s revenue take, but little has changed.
One big issue is the question of how to make up the lost revenue if the tax is eliminated or even lowered without a corresponding broadening of the items that are taxed.
Given the expected expansion of gambling in Massachusetts and Rhode Island’s reliance on gambling revenue to balance its books every year, is eliminating the sales tax a sound fiscal idea?