Boston Globe: RI lawmakers weigh millionaires tax as federal cuts threaten $400M in funding
Rhode Island faces an estimated $400 million loss in federal Medicaid and SNAP funding following Congress's "One Big Beautiful Bill Act." More than 10,000 residents have lost health coverage after enhanced premium tax credits expired. The General Assembly is considering a 3% surtax on the top 1% of earners (households above $640,000 taxable income), estimated to generate $203 million annually according to the Institute on Taxation & Economic Policy, writes Economic Progress Institute head in Boston Globe commentary.
