Saturday, October 25th, 2014

Promises about State Budget on Linc-O-Meter

Examine a 1-percent sales tax on items currently exempt from sales tax

"Rather than forcing our property taxes to rise across Rhode Island, we should carefully examine a two-tier sales tax. Other states have this system and it is working."

Stop "dramatic reductions in funding" to state colleges and university

"I will submit a budget proposal to start protecting our higher education assets. We will stop the dramatic reductions in funding to CCRI, Rhode Island College and the University of Rhode Island."

Hold a budget summit during transition period

"I will hold a budget summit. I will hold a budget summit with all stakeholders within the transition period."

Will audit all economic development tax deals

"I will conduct audits of all economic development tax deals. We need to stop the bleeding of state resources through tax credit programs that have no discernible impact."

Review all state leases of commercial office space

"Launch a thorough, case-by-case review of all 33 leases currently held by the state in commercial office buildings."

Lower taxes on personal income and corporate profits when economy improves

"When the economy improves, Chafee backs lowering taxes on personal income and corporate profits."

Oppose tax changes without reform of spending and mandates

"Chafee will oppose any changes to our taxes without first reforming our spending, particularly the mandates."

Reform state employee pension plan

Reform pension plans: Reamortize pension; create hybrid 401(k), audit existing plan, develop long-term plan to coordinate retirement age with Social Security age.

Simplify business tax system

"We will take action to simplify the business tax system and plan for a sustainable state budget."

Reform municipal employee pension plans

Move aggressively on the municipal level to curb future pension costs, avoid protracted litigation, ensure employment stability, be fair to workers, older workers in particular, and honestly address all the critical issues facing the state with respect to pension benefits.