Gubernatorial Candidate Fung Releases Economic Policy Plan
Wednesday, April 11, 2018
“For far too long Rhode Island has slumbered at the bottom of every ranking when it comes to our business and economic climate. It is time that we shake up the status quo, and make Rhode Island the land of startups, strong businesses, and an attractive place for companies to expand into,” said Fung.
According to Fung’s press release, in his first term, Fung would look to lower the sales tax each year until it reaches 5%, or the lowest of any state in New England outside of New Hampshire, which doesn’t levy one.
“Our residents pay a lot in taxes, and they shouldn't dread interacting with their state government the same way you dread a root canal,” said Fung.
According to Fung’s press release, he is also going to cut the cost of doing business in Rhode Island, by introducing the Low Fee Guarantee.
In his first six months in office, the administration will go through every single occupational licensing, permitting, and business incorporation fee, and make them the lowest in New England. Additionally, in order to make Rhode Island more attractive for startups, he will waive all state fees for their first year in business.
Fung will introduce the Business Concierge Program, which has been key to making Cranston one of the Top 50 Cities in America. The Concierge Center is a one-stop location for startups and business owners, walking them through the process from business plan to ribbon cut as quickly and as stress-free as possible.
A business owner will be working with an economic development professional from start to finish - helping them cut through red tape and letting them know what they need to do right from the start, instead of running into time-consuming roadblocks because one department isn't talking to another.
Related Slideshow: GoLocal: Benchmark Poll, October 2017
Next year, in November of 2018, there will be a statewide general election for Governor and many other state offices. How likely is it that you will vote in this election?
Will you definitely be voting, will you probably be voting, are you 50-50...
Definitely be voting: 78%
Probably be voting: 13%
What would you say is the number one problem facing Rhode Island that you would like the Governor to address?
Jobs and economy: 21%
State budget: 9%
Corruption/Public integrity: .8%
Don’t know: .9%
Recently, a proposal has been made to permit the issuance of $81 million in bonds by the State to build a new stadium for the Pawtucket Red Sox. If there was an election today on this issue, would you vote to approve or reject issuing $81 million in financing supported moral obligation bonds to build the stadium?
Net: Approve: 28%
Definitely approve: 15%
Probably approve: 14%
Net: Reject: 67%
Probably reject: 19%
Definitely reject: 48%
Don't know: 4%
The next question is about the total income of YOUR HOUSEHOLD for the PAST 12 MONTHS. Please include your income PLUS the income of all members living in your household (including cohabiting partners and armed forces members living at home).
$50,000 or less: 27%
More $50,000 but less than $75,000: 13%
More $75,000 but less than $100,000: 13%
More $100,000 but less than $150,000: 17%
$150,000 or more: 13%
Don't know/refused: 17%
What particular ethnic group or nationality - such as English, French, Italian, Irish, Latino, Jewish, African American, and so forth - do you consider yourself a part of or feel closest to?
Black or African American: 6%
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