DaPonte: RI progressives are wrong about income tax changes ...

January 18th, 2013 at 5:00 am by Ted Nesi under Nesi's Notes, On the Main Site

Senate Finance Committee Chairman Dan DaPonte has had it with liberal critics of the income tax law he helped shepherd through the General Assembly in 2010.

DaPonte, D-East Providence, and his colleagues are under renewed pressure this legislative session from Rhode Islanders for Tax Equity, a coalition of?progressive activists and unions leaders who want taxes hiked on upper-income residents. This year?s top rate is 5.99% on income above $133,250.

DaPonte, the Senate?s top budget-writer and a key lieutenant to Senate President M. Teresa Paiva Weed, told me on Wednesday he doesn?t want to revisit the issue:

I think the 2010 changes that are in place are appropriate. I think when you look at the increased revenues that we?ve gotten ? I?m anxiously awaiting the revenue report that?s published in March, to show which income brackets paid what taxes.

I?m still quite honestly confused at the liberal opinion that the 2010 personal income tax reform was a big giveaway to high-income earners. From everyone that I?ve heard from, particularly tax professionals who do this stuff for a living ? they have a completely opposing opinion, that that is not, in fact, what we did do.

That was testified to during the process. There are going to be winners and losers, but we needed a simpler, fairer tax formula, and that?s what we have now.

? Related: Paiva Weed stays vague on whether she?d OK income tax hike (Jan. 16)

Tags: budget, daniel daponte, fy2014, general assembly, income tax, senate, state budget, taxes

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Source: http://blogs.wpri.com/2013/01/18/daponte-ri-progressives-are-wrong-about-income-tax-changes/

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