Economy
Jessica Drew-Day’s Republican Plan to Save & Grow Small Businesses in RI
The Problem: RI Is Killing Small Business
- 98.9% of RI firms are small — but 5,360 go bankrupt every year.
- 7% corporate tax + $150 LLC fee + endless red tape = owners fleeing to NH (0% tax).
- Energy surcharges ($25–$30/month) + labor shortages = profit margins crushed.
- Democrat mandates (DEI, Green 2033) add $10K+ compliance costs for a coffee shop.
Drew-Day's 7-Point Republican Fix — Day 1 Bills
1. Cut Corporate Tax to 5% Phase down from 7% over 3 years — $2,000/year back to a $1M firm. Saves you $500–$5,000/year.
2. Zero LLC Filing Fee $0 to start — NH model. Saves you $150 instantly.
3. Tort Reform: $250K Pain CapStop lawsuit abuse — cut insurance 20%. Saves you $1,000–$3,000/year.
4. Pause Green 2033 Surcharges Freeze $25–$30/month fees — redirect to small biz grants. Saves you $300–$360/year.
5. One-Stop Permit Portal, 30-day max for all licenses — no more 6-month waits. Saves you months of hassle.
6. Hire Local Tax Credit $2,000 per RI resident hired — no out-of-state H-2B needed. Saves you $2K per job.
7. South County Small Biz Zone Tax-free for 5 years in Narragansett & SK — like Opportunity Zones. Saves you thousands in growth.
Drew-Day's Promise
- No new mandates.
- No bailouts for big corps.
- South County first