Our citizens need good-paying jobs to support themselves and their families. I have focused relentlessly on implementing policies that stimulate job growth at current Rhode Island businesses and bring new job opportunities to residents.
Since becoming Speaker in 2014, the legislature has adopted measures that I have initiated:
- Lowered the corporate tax from 9% to 7%, the lowest rate in the Northeast
- Twice reduced the minimum corporate tax paid by nearly 60,000 businesses
- Eliminated the sales tax that businesses previously paid on utility bills
- Raised the estate tax exemption to keep Rhode Islanders living in-state
- Cut the unemployment insurance tax for the first time since 1992, saving businesses $40 million annually
- Enacted the Jobs’ Incentive Act, which has attracted dozens of new companies and has resulted in thousands of new good-paying jobs
- Invested $11 million in Real Jobs Rhode Island, an initiative to provide job training assistance to have a better skilled and trained workforce
- Supported a $20 million bond proposal to build an “innovation campus” at URI that will create 21st century jobs
- Created a Small Business Development Fund to encourage investment in the state’s job-producing small businesses.