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2/15/2024
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Rep. O’Brien’s bill increases earned income tax credit
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STATE HOUSE – Rep. William W. O’Brien (D-Dist. 54, North Providence) has introduced legislation (2024-H 7589) that would raise the state’s earned income tax credit to 30 percent for the tax years 2025 and beyond.
“Raising this important income tax credit will go toward helping so many residents and small businesses in our state. By raising the tax credit to 30 percent, not only would we be encouraging people to work, but it would also make us a leader in the nation in encouraging and rewarding our residents to work hard. Everyone for the most part needs a little help these days and for our residents, families and small businesses, this tax credit would go a very long way,” said Representative O’Brien.
Currently, the state’s earned income tax credit is 16 percent. Under Representative O’Brien’s legislation, for the tax years beginning in 2025, a taxpayer entitled to a federal earned-income credit will be allowed a Rhode Island earned-income credit equal to 30 percent of the federal earned-income credit.
The legislation has been referred to the House Finance Committee.
For more information, contact:
Andrew Caruolo, Publicist
State House Room 20
Providence, RI 02903
(401)222-6124
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