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Fung Calls for General Assembly to Tackle Tax Reform

Cranston Mayor Allan W. Fung, also a candidate for Governor, said in a release Monday morning that tax reform should be a top priority for the General Assembly in the upcoming legislative session.

“Like many of Rhode Island’s cities and towns, Cranston struggled with budget deficits and annual tax increases to plug the gaps caused by declining revenues, the loss of state aid, and structural deficits,” Fung said. "My administration worked closely with the City Counsel and municipal employees to cut costs and improve our long-term financial health, while providing the municipal services that our residents and businesses deserve.  In doing so, we have created more than one thousand jobs in the City of Cranston and if we can do it on a local level, we can certainly demand the General Assembly and the governor to take action at the state level."

Fung is touting his credentials in helping lift Cranston out of an economic morass during his two-and-a-half terms as a keystone in his gubernatorial bid, though in his release, he doesn't specify exactly what types of tax reform he supports. He does, however, say that a fixation on reducing or eliminating the sales taxes is short sighted and tax reform must encompass all layers of the tax code.

"We need to be more competitive, not only with our neighboring states, but in the region as it relates to taxes," Fung said. "To achieve this, I am calling on the General Assembly to review our entire tax system, including the sales, corporate, income, and estate taxes, and seek changes that will encourage business growth and establish fairness and simplicity. Just focusing on the sales tax this session will not get us to where we need to be to encourage businesses to expand and create more job opportunities in Rhode Island. We need to make Rhode Island the most attractive state to do business and get our citizens back to work."

 

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