Latest Tax Rankings: Why The Nuclear Tax Hike Option Should Be Completely Off The Table, Not Simply At The Bottom of The List

While Majority Leader Mattiello's expressed intent is appreciated,

"The last thing you want to do is raise taxes," House Majority Leader Nicholas Mattiello said at a Greater Providence Chamber of Commerce luncheon at the R.I. Convention Center. "We have not gone there in the past and we hope this year we will not go there. I am confident we will not."

to be respectfully blunt, it doesn't go far enough. Accordingly, as we await Governor Chafee's proposed budget, a review, courtesy the invaluable Tax Foundation, of Rhode Island's current tax rankings is in order.

State and local tax burden: 5th Highest

Corporate income tax: 5th Highest.

Combined state/local property taxes: 7th Highest

And inching up one step (yippee?) this year, our business tax climate: 46th worst

Note: The first Tax Foundation link to their Rhode Island page lists our top income tax rate as 9.9%. I believe that particular data point is outdated.