On Taxation Reform…
Woonsocket – State Representative Chris Fierro of Woonsocket said he was proud to support reform measures adopted this year which overhauled and simplified the personal income tax system to benefit the majority of Rhode Islanders.
Fierro, seeking re-election to the District 51 seat in the September 14 primary, said the tax reform plan will go into effect on January 1, 2011, impacting the 2010 tax returns. The new law eliminates the optional flat tax method of preparing income taxes, and it reduces the number of tax brackets from five to three, which will benefit most taxpayers.
“When I first ran for office in 2008, I pledged to eliminate the unfair alternate flat tax and I am pleased this legislation accomplished that goal,” said Fierro. “The reform effort will not only help our state attract new businesses, but this change is a first step for our communities to shift the tax burden away from property taxes.”
Fierro, one of only two freshmen to serve on the House Finance Committee, said the legislation was first passed by the committee following a wide array of testimony on tax reform offered to the panel.
“The new law is the most significant income tax reform the legislature has enacted in the last 40 years,” said Fierro. “Most of the hard-working taxpayers of Woonsocket and our state will benefit from these important changes.”



