Businesses propose tax ideas to boost economy

Sunday December 9, 2012

PROVIDENCE, R.I. (AP) -- Business have been meeting with Gov. Lincoln Chafee’s office and legislative staff to offer tax and education ideas they believe will help turn around Rhode Island’s economy.

The Providence Journal reports that one proposal is to exempt new businesses from the capital gains tax. Ken Block, the leader of the Moderate Party and a former gubernatorial candidate, said it could lure new business to the state.

Business owners also are calling for changes to the state’s unemployment benefits fund, Temporary Disability Insurance program and its worker training fund that are paid in taxes on businesses or their workers.

The business owners who are a mix of members of the Smaller Business Association of New England and Rhode Island Manufacturers Association have been meeting since October to develop a five-year plan for the state.


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