PROVIDENCE -- As expected, House Democratic leaders today announced the introduction of a major package of legislation they said is aimed at overhauling Rhode Island's tax structure to provide relief to taxpayers at all levels.
The "Taxpayer Relief Act of 2006" consists of nine initiatives they say is designed to make Rhode Island more attractive to businesses and to provide tax relief to citizens while maintaining revenue for the state.
At a news conference this afternoon, House Speaker William J. Murphy said, "Rather than taking a piecemeal approach to the issues that affect our tax system, we're going to look at how to make the entire system work for the state and for all its taxpayers.
"The ultimate goal is to put more money directly into people's pockets both by giving relief to those who need it and by making Rhode Island a more attractive place for businesses that will provide high-paying jobs for more Rhode Islanders."
The legislation addresses nine separate areas of Rhode Island tax laws. Some are new proposals; others draw on ideas that have been raised in the past as possible ways to improve the state's tax laws.
They range from a personal income tax reduction to a sales tax holiday to the creation of a new Department of Revenue whose sole purpose would be to collect taxes and tax data.
The proposal comes as Republican Governor Carcieri prepares to unveil his budget next week, and with it his plan for averting a potential $220-million to $240-million deficit.
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