Guckian Says Millionaire’s Tax Is Reckless and We Can’t Tax Our Way Out of This

In response to Helena Buonanno Foulkes’ proposal to do a millionaire’s tax to fund housing initiatives, gubernatorial candidate Aaron Guckian said Rhode Island is moving in the wrong direction by adding new taxes instead of fixing government.

“Rhode Islanders are already paying so many taxes and fees,” Guckian said. “People feel it everywhere, permits, registrations, fines, and even speed cameras. At some point, government has to stop looking for new revenue and start working smarter.”

“People are telling me they cannot afford to live here, and because of estate taxes many families feel like they cannot even afford to die here,” Guckian said. “Adding another tax and driving more people out of our state simply does not work.”

Guckian said the proposal comes at the worst possible time, as communities across Rhode Island recover from a major blizzard and municipalities struggle with strained budgets.

“At a moment when cities and towns are trying to recover and balance their budgets, this proposal is completely out of step with what Rhode Islanders are facing,” he said. “The timing could not be worse.”

He also pointed to Hasbro’s recent announcement that it plans to move its headquarters and hundreds of jobs to Boston by the end of 2026.

“When an iconic company like Hasbro decides to leave Rhode Island, that should be a wake up call,” Guckian said. “We are already at risk of losing our tax base, and adding another tax will only accelerate that trend.”

Guckian noted Rhode Island’s budget has grown approximately five billion dollars in five years and now approaches fifteen billion dollars for a state of just over one million people.

Under his Rhode Island Works Smarter plan, Guckian said frontline employees and union workers would be incentivized to identify savings and efficiencies, with workers sharing in those savings and the rest going back to taxpayers through lower taxes and fees.

“We do not need higher taxes, we need smarter systems,” Guckian said. “The one thing we cannot do is tax our way out of this.”

Guckian added that our thoughts and prayers are with our brave men and women serving in the Middle East and