For only the third time since the start of his administration, Governor Carcieri testified before the House Committee on Finance on his tax reform proposals. The Governor stressed the need for tax reform in Rhode Island to stimulate the economy and to grow revenues and jobs. The Governor also took his tax reform message to the people of Rhode Island with the posting of this web video. The video outlines the three tax reform proposals: phase out of the corporate income tax, personal income tax reform, and increasing the estate tax exemption.

Governor Carcieri explained the reason for the web video. "More and more individuals get their news from the web, where it is unfiltered and unedited. Rhode Islanders know the cost of high taxes, and they are smart enough to understand the impact high taxes are having on our state's ability to grow revenue and grow jobs. The web allows me to speak directly to the citizens on important issues that affect them each and every day, including tax reform, the state's fiscal situation, economic development, and job growth."

In the web address, Governor Carcieri states, "As we struggle through this difficult economy, we need jobs more than ever before. If we don't fix the problem now, we will continue to face the same obstacles to economic development and job growth when the stimulus money is gone, and other states are well on the road to recovery."

"By lowering the death and corporate income taxes, and by reducing the personal income tax brackets, Rhode Island will become competitive and attractive to new and existing businesses."

"Remember, government does not create jobs - entrepreneurs and businesses do. We have to make it clear that Rhode Island is open for business. We want more jobs. And, we will compete to get them. To consider raising broad-based taxes now would be a disaster. We don't need more taxes - we need more taxpayers."

"With these much needed tax reforms, Rhode Island will have a new and compelling story to tell - a story that will not only attract and retain businesses, but will also keep our seniors from fleeing the state to avoid excessive death taxes."

Please view the web address in its entirety.