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RI Lawmakers Propose Tax Hike on High Earners to Fund Education

Residents earning more than $500,000 would pay more in taxes under the proposal

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Two Democratic Rhode Island lawmakers are proposing to raise taxes on residents earning more than $500,000 annually to pay for education.

State Sen. Ryan Pearson, of Cumberland, and Rep. Gregg Amore, of East Providence, are proposing a new tax bracket for income earned higher than $500,000.

They say it would add one percentage point to the 5.99% top rate, with incremental revenue directed to an account for funding education from kindergarten through grade 12. They emphasized it wouldn't impact any resident earning less than $500,000 annually.

Amore says the state needs a commitment of resources to pay for education reform.

Copyright AP - Associated Press
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