House’s millionaires tax phase-in plan fails to sway business opposition

Rhode Island's proposed "millionaires tax" is facing continued resistance from the business community despite the House approving a three-year phase-in plan to gradually implement the higher income tax on earnings above $1 million. Laurie White, President of the Greater Providence Chamber of Commerce, emphasized that this approach hasn't alleviated concerns about the potential impact on wealthy residents and businesses. This debate is crucial as it touches on broader fiscal policies and the state's approach to revenue generation, with implications for economic development and business climate.

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