Rhode Island
Wealth Tax in Rhode Island Could Raise Millions While Improving Fairness – Uprise RI
Massachusetts recently implemented a 4% surtax on annual incomes over $1 million, known as the “Fair Share” wealth tax. Analysis from the Institute on Taxation and Economic Policy (ITEP) finds that this tax makes Massachusetts’ overall state and local tax system more equitable.
Specifically, the ITEP analysis shows that prior to the “Fair Share” tax, the top 1% of earners in Massachusetts paid 7.7% of their income in state and local taxes. The bottom 95% of earners paid 9.4% of their income in Massachusetts taxes. With the 4% surtax on income over $1 million, the tax rate on the top 1% of earners rises to 9.1% – still below the 9.4% rate the bottom 95% pay, but an increase in progressivity and tax fairness.
The ITEP data indicates that while the “Fair Share” wealth tax made Massachusetts’ tax system more equitable, there is room for further improvement. Even with the surtax, the top 1% in Massachusetts pay a smaller share of their income in taxes than the bottom 95 percent. This demonstrates that a single wealth tax, while impactful, may not fully flip a regressive system into a progressive one. Regular re-evaluation and adjustment of top-end tax rates may be required to continue furthering tax fairness over time.
Nevertheless, ITEP’s 50-state analysis makes clear that the “Fair Share” surtax, along with other tax changes in Massachusetts last year, have combined to make Massachusetts one of the least regressive states in the country tax-wise. In fact, whereas Massachusetts ranked in the bottom third of states for tax fairness before the recent changes, it now ranks in the top ten for tax progressivity.
The “Fair Share” wealth tax represents a major driver of the improvement in tax fairness in Massachusetts. While nine other states collect a greater share of income from their top 1% of earners, the addition of the 4% surtax on annual income over $1 million went further in Massachusetts than most states’ attempts to tax the wealthy and reduce tax code regressivity.
What does this mean for Rhode Island? While Rhode Island does not currently have a comparable wealth tax, the experience in nearby Massachusetts provides an example of how a similar approach could improve equity in Rhode Island’s tax code as well.
Rhode Island policymakers looking to invest in programs benefiting lower and middle income families may want to consider modeling a wealth tax on Massachusetts’ “Fair Share” surtax. Further analysis would be needed to estimate potential revenue yields from a wealth tax in Rhode Island, and how new funds could be utilized.
However, the clear impacts in Massachusetts can inform initial policy debates in Rhode Island. The ITEP data shows that targeting even marginally higher tax rates on the very highest earners can make state tax systems measurably more fair. Additional revenue generated can provide substantial resources to expand public services that promote broadly shared economic opportunity.
The ITEP data could also help shape discussions in Rhode Island around optimal tax rates and income thresholds for a potential wealth tax. Their analysis shows that while Massachusetts 4% surtax on income over $1 million improved tax progressivity, the state’s tax system remains regressive overall. This implies Rhode Island may need a higher wealth tax rate than Massachusetts or need to apply graduated rates across multiple income brackets to completely flip its tax code right-side up.
Rhode Island ranks near the middle nationally in terms of the tax fairness of its current state and local tax structures. But with thoughtful wealth tax design modeled on Massachusetts’ example, Rhode Island could vault into the top tier of states for tax progressivity.
Massachusetts dedicates its “Fair Share” wealth tax income for education and transportation. Rhode Island revenue could similarly fund investments in areas like infrastructure, affordable housing, healthcare, and education.
For instance, increased access to early childhood education provides perhaps the highest return on public investment available. Enabling more working families to enroll children in pre-K programs yields better academic, social, and economic outcomes over their lifetimes. It also strengthens communities overall by developing future generations of better-prepared, higher-earning workers and citizens.
If modeled after Massachusetts, a wealth tax could provide Rhode Island with hundreds of millions in new annual revenue that could make transformative investments possible. Though only approximately 2,000 high net worth households would pay the wealth tax, benefits would be felt across Rhode Island through expansions of vital public services.
As Rhode Island continues to debate its fiscal future, examining the impacts of a wealth tax on fairness, revenue, and public services can contribute an important perspective. Massachusetts’ “Fair Share” experience shows the potential of targeted tax increases on top earners to further tax progressivity, raise substantial revenue for key priorities like education, and promote broadly shared prosperity. Rhode Island policymakers would be wise to take notice.
Rhode Island
R.I. families scramble to enroll elsewhere as Croft School faces sudden closure – The Boston Globe
“We wanted to have a sure thing,” said Roman, who enrolled her son last year. But now his school year is about to be upended amid allegations of fraud by Croft’s founder, and questions about whether the school will have enough money to stay open past the end of this week.
Roman and her husband are among hundreds of families weighing their options for finding last-minute schooling for their children next week after they abruptly learned about the school’s financial problems during spring break. Some are forming home-school pods, enrolling in local public schools, or scrambling to find a private school with an open seat.
There are about 220 children enrolled in the Providence school, and another roughly 370 at two locations in Boston.
“Obviously, our first hope is that the school can stay open,” said Roman, who is planning to enroll her 6-year-old in the Providence Public Schools if Croft closes. She can rank preferences, but doesn’t know which school he will attend.
In her search, she found private schools were not issuing financial aid midyear, and she can’t afford to pay full freight. She also entered the state’s public charter school lottery, but it doesn’t award seats in the middle of the school year.
Providence schools Superintendent Javier Montañez sent a letter to families on Friday pledging support, and set up a Google form to help parents enroll. Information sessions are being held to help.
Depending on where they live, families will not necessarily be able to enroll at the school in their neighborhood, though they can list preferences. Spokesperson Alex Torres-Perez said there are 639 open K-7 seats throughout the district, grades that are currently enrolled at Croft. At the elementary school closest to Croft, Vartan Gregorian Elementary School, there are 22 seats currently available; at the closest middle school, Nathan Bishop, there are 19 seats.
“Our district is committed to providing a high-quality education for every student every day with the help of our dedicated educators,” said Torres-Perez, who noted that the district is in the middle of a $1 billion program to reconstruct its school buildings. The project includes building new K-8 schools, and some students have been moving around to swing spaces while construction is ongoing.
In his letter to parents, Montañez touted “tremendous momentum,” including new dual language programs, career and technical education, and improved graduation rates.
Molly Birnbaum first heard about Croft after Given came to her daughter’s day care to pitch the school.
“I was really taken by his vision, and the way he spoke about education and equality, and project-based learning,” Birnbaum said. “When she was old enough for kindergarten in 2022, we were so excited to tour the school and see what he had built.”
She enrolled her daughter, who is now in third grade. Her son, a kindergartner, joined a few years later.
Now, Birnbaum has been going to information sessions across the city at different schools, deciding where to send them. The closest public school to her is Vartan Gregorian, and she is also looking at private schools.
Like many parents, Birnbaum prepaid the tuition at Croft for next year, and may be out tens of thousands of dollars. And her children could lose their teachers, who will be furloughed next week if more money isn’t secured. She hopes some of them could be hired by families who opt to form homeschooling groups for the rest of the year.
“These are some of the most special, loving, warm teachers that I’ve encountered,” Birnbaum said.
Katherine Linwood, whose 10-year-old daughter Vivienne is in fifth grade at Croft, said she’s been “burning the candle at both ends” to try and keep the school open, but is also planning for contingencies if school closes next week. She compared it to the scramble to find child care when schools went remote during COVID.
“In terms of trying to patchwork, keep her safe and secure and engaged, while working a full-time job,” Linwood said.
This isn’t Vivienne’s first time going through something like this. She previously attended the private Henry Barnard School on the Rhode Island College campus, which closed in 2020.
Linwood, who works at Rhode Island Kids Count, a child advocacy organization, is not considering sending her daughter to the low-performing Providence Public Schools.
“To me, this also speaks to why we need to have better investments in our public education system,” Linwood said. “I strongly believe that every child has the right to a wonderful education.”
The problems at Croft came to light in mid-March, a week after the four-member board that controls the school was told by executive director Scott Given, the founder, that he had “mismanaged and misrepresented” the school’s finances, including hiding large debts.
Given was suspended and then fired. His lawyers said last week he is cooperating with the ongoing investigation and “has never used any school funds for his own personal benefit.”
The board told families it has enough cash on hand to make payroll on Tuesday, but would need $5 million to keep the schools open through the end of the year.
In an effort to keep the Providence campus open, a group of eight parents has filed a petition in Rhode Island Superior Court, asking a judge to put the school into receivership, a type of state-level bankruptcy.
If granted, a receiver would be given authority over the school and could make financial decisions. A lawyer for the families said Tuesday there is an anonymous donor willing to fund the school for the rest of the school year, but only if it is removed from the control of the current board.
Superior Court Judge Brian Stern did not immediately make a decision on the receivership during a hearing on Tuesday.
Time is of the essence; a memo from board member Mike Goldstein, which was cited in court documents, said teachers would be furloughed as of April 1 if the school does not have funding for the next payroll cycle by Friday.
Roman said she tried to explain to her son, in age-appropriate terms, what is going on. He asked why someone would take money from a school, and opined: “That’s not kind.”
“I’m not afraid to send my child to public school, he will be fine,” Roman said. “I worry that people will think this is just a rich person problem, but it’s not. The school was trying to do something different and make education accessible to everyone.”
Steph Machado can be reached at steph.machado@globe.com. Follow her @StephMachado.
Rhode Island
Rhode Island Supreme Court vacates life sentence in deadly Pawtucket shooting
The Rhode Island Supreme Court vacated a conviction tied to a deadly cigar bar shooting.
Trequan Baker, 31, was sentenced to 60 years at the ACI followed by a consecutive life sentence for the murder of 36-year-old Qudus Kafo in 2022.
Pawtucket police said one man was shot to death and a second wounded outside FabCity Cigar Lounge, early Monday, Jan. 24, 2022. (WJAR)
The shooting happened outside the Fab City Cigar Lounge in Pawtucket after a fight broke out.
The Supreme Court referenced inappropriate questioning at the trial that focused on what happened after Baker’s arrest as the reasoning for vacating the conviction.
Pawtucket police said one man was shot to death and a second wounded outside FabCity Cigar Lounge, early Monday, Jan. 24, 2022. (WJAR)
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According to the release, the case has been sent back to Superior Court.
Rhode Island
RI Lottery Powerball, Numbers Midday winning numbers for March 23, 2026
The Rhode Island Lottery offers multiple draw games for those aiming to win big.
Here’s a look at March 23, 2026, results for each game:
Winning Powerball numbers from March 23 drawing
12-18-47-56-63, Powerball: 01, Power Play: 10
Check Powerball payouts and previous drawings here.
Winning Numbers numbers from March 23 drawing
Midday: 1-6-3-3
Evening: 5-0-7-4
Check Numbers payouts and previous drawings here.
Winning Wild Money numbers from March 23 drawing
01-12-27-28-31, Extra: 37
Check Wild Money payouts and previous drawings here.
Winning Millionaire for Life numbers from March 23 drawing
01-14-19-29-35, Bonus: 03
Check Millionaire for Life payouts and previous drawings here.
Feeling lucky? Explore the latest lottery news & results
Are you a winner? Here’s how to claim your prize
- Prizes less than $600 can be claimed at any Rhode Island Lottery Retailer. Prizes of $600 and above must be claimed at Lottery Headquarters, 1425 Pontiac Ave., Cranston, Rhode Island 02920.
- Mega Millions and Powerball jackpot winners can decide on cash or annuity payment within 60 days after becoming entitled to the prize. The annuitized prize shall be paid in 30 graduated annual installments.
- Winners of the Millionaire for Life top prize of $1,000,000 a year for life and second prize of $100,000 a year for life can decide to collect the prize for a minimum of 20 years or take a lump sum cash payment.
When are the Rhode Island Lottery drawings held?
- Powerball: 10:59 p.m. ET on Monday, Wednesday, and Saturday.
- Mega Millions: 11:00 p.m. ET on Tuesday and Friday.
- Lucky for Life: 10:30 p.m. ET daily.
- Millionaire for Life: 11:15 p.m. ET daily.
- Numbers (Midday): 1:30 p.m. ET daily.
- Numbers (Evening): 7:29 p.m. ET daily.
- Wild Money: 7:29 p.m. ET on Tuesday, Thursday and Saturday.
This results page was generated automatically using information from TinBu and a template written and reviewed by a Rhode Island editor. You can send feedback using this form.
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