Rhode Island Millionaire Tax Signed
Rhode Island became the latest state led by a Democrat to raise taxes on the wealthy as Gov. Dan McKee signed a budget lifting the top rate over three years to 8.99% for income over $1 million, Greg Ryan reports.
Massachusetts, Washington and Maine also decided to raise taxes on the wealthy this year as top earners prosper while other residents struggle to afford everyday expenses. In California, a healthcare workers union and its allies are backing a ballot measure that proposes a one-time, 5% tax on wealth over $1 billion.
McKee resisted the ...