Raimondo seeks to drop ‘Taylor Swift tax’ proposal

May 11, 2015 9:57 pm

By The Associated Press

PROVIDENCE, R.I. (AP) _ Gov. Gina Raimondo has suggested eliminating a proposed tax on luxury vacation homes, the so-called “Taylor Swift Tax,” after projections show state revenues are up by about $143 million.

Raimondo announced Monday that she would have omitted the tax from her March budget proposal had she known about the surplus. The Raimondo administration had originally proposed the tax to alleviate the state’s budget deficit, estimated at $190 million.

The tax was named for the pop singer who owns a beachfront mansion in Westerly.

Lawmakers who took part in the state’s semiannual revenue estimating conference say state revenues will be up by $106.8 million this year and $36.6 million next year.

House Speaker Nicholas Mattiello said last month he hoped the state would have enough money to eliminate the proposed tax.