- Associated Press - Monday, May 11, 2015

PROVIDENCE, R.I. (AP) - Gov. Gina Raimondo has suggested eliminating a proposed tax on luxury vacation homes, the so-called “Taylor Swift Tax,” after projections show state revenues are up by about $143 million.

Raimondo announced Monday that she would have omitted the tax from her March budget proposal had she known about the surplus. The Raimondo administration had originally proposed the tax to alleviate the state’s budget deficit, estimated at $190 million.

The tax was named for the pop singer who owns a beachfront mansion in Westerly.

Lawmakers who took part in the state’s semiannual revenue estimating conference say state revenues will be up by $106.8 million this year and $36.6 million next year.

House Speaker Nicholas Mattiello said last month he hoped the state would have enough money to eliminate the proposed tax.


Copyright © 2019 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide