Tax reform panel to release findings

PROVIDENCE, R.I. (AP) - A panel looking at Rhode Island’s tax code is expected to propose as much as $130 million a year in tax relief for individuals and businesses.

The Providence Journal reports that the panel’s final report scheduled to be issued Monday calls for changes in the state’s individual income tax system, reductions in the corporate income tax and cuts in local property taxes.

The report is being released as Gov. Don Carcieri prepares his budget.

Panel chairman Gary Sasse says Carcieri has not formally received the report, but has been briefed on its findings.

Carcieri has blamed the state’s tax policies for driving away high earners and corporations. The panel’s goal is to make Rhode Island more competitive with neighboring Massachusetts and Connecticut.