Rhode Island’s state and local taxes and spending are consuming a growing share of residents’ incomes because incomes here are growing more slowly than the nation’s, according to a report released Monday by the Rhode Island Public Expenditure Council.
The business-backed research group’s annual report, “How Rhode Island Compares: State and Local Taxing and Spending,” ranks the state across 32 revenue and spending categories using U.S. Census Bureau data through fiscal 2024, and compares those rankings with fiscal 2019.
Per capita personal income in Rhode Island grew 25% over that period, against 32% nationally, and the state’s rank fell from 16th to 22nd, according to RIPEC. Measured against residents’ ability to pay, total spending rose from 24th highest to 18th and tax revenues from 15th to 13th…