3/31/11

Chafee Tax Plan a Disaster

Well, the verdict is in: Governor Chafee’s sales tax increase plan has been judged a misguided missile that will wreak destruction on the citizens of this state. Everyone’s against it, from salon owners to people who wear glasses! It’s DOA with the larger business community, as word spreads about its intent to tax capital expenditures on things like new production and R&D equipment as well as metals used in manufacturing. It’s also maddening that despite its sweeping scope, Chafee’s tax plan is nonetheless selective, sparing certain economic sectors and influential stakeholders like lawyers’ fees and legal and accounting services. Ed Achorn calls it an “impending disaster in this week’s column. Read on:

Edward Achorn: Disaster looms for Rhode Island businesses