Post by Logan on Dec 18, 2016 3:49:19 GMT -6
PROVIDENCE, R.I. - House Speaker Nicholas A. Mattiello and Senate President M. Teresa Paiva Weed are in favor of raising the state's minimum wage of $9.60 next year, but the two weren't on the same page Thursday with the speaker's campaign promise to deliver car-tax relief.
A plan to eliminate the car tax in Rhode Island, which he called a priority this coming legislative session, is still being solidified but includes phasing it out over five years by reimbursing cities and towns for their lost revenue. He said municipalities collectively bring in just under $215 million annually from car taxes.
They will get less and less from driving residents each year in his proposal, but not lose money because the state will offset the gap beginning the fiscal year that starts July 1, 2017 - about $40 million that first year, about $80 million in year two and so on until the state fully covers all the revenue they receive from vehicle owners.
Where the state will find the money is uncertain, but Mattiello said "it will get done."
Read more: www.providencejournal.com/news/20161215/ri-house-senate-leaders-agree-on-minimum-wage-hike
A plan to eliminate the car tax in Rhode Island, which he called a priority this coming legislative session, is still being solidified but includes phasing it out over five years by reimbursing cities and towns for their lost revenue. He said municipalities collectively bring in just under $215 million annually from car taxes.
They will get less and less from driving residents each year in his proposal, but not lose money because the state will offset the gap beginning the fiscal year that starts July 1, 2017 - about $40 million that first year, about $80 million in year two and so on until the state fully covers all the revenue they receive from vehicle owners.
Where the state will find the money is uncertain, but Mattiello said "it will get done."
Read more: www.providencejournal.com/news/20161215/ri-house-senate-leaders-agree-on-minimum-wage-hike