Carcieri’s proposals include the following:
- Phase out the state’s 9-percent corporate income tax over four years
- Reduce the individual income tax’s highest marginal rate, to 5.5 percent from the current 9.9 percent, starting in 2011
- Increase the estate tax exemption amount from $675,000 to $1 million starting Jan. 1, 2010, thus making fewer estates subject to the tax.
- Raise the cigarette tax by $1 a pack, to $3.46.