O'Grady supports decrease in corporate tax, increase in minimum wage

O'Grady supports decrease in corporate tax, increase in minimum wage

LINCOLN - State Rep. Jeremiah O'Grady, who is seeking re-election in House District 46, said in a press release that he was proud to support two initiatives this year that help both businesses and workers to move the economy forward.

He said Rhode Island sent a clear signal that it wants to attract new businesses and assist existing ones by reducing the corporate tax rate from 9 percent to 7 percent.

"We listened to the business community and realized that in order to create new jobs and stimulate economic growth, we had to improve our competitive position within the region," stated O'Grady.

He said he also supported legislation raising the minimum hourly wage from $8 to $9 effective Jan. 1.

According to O'Grady, an employee who makes $8 per hour grosses $16,640 annually if working 40 hours a week. At $9 an hour, that total increases to $18,720.

"It is challenging for any individual to make ends meet while earning minimum wage, never mind trying to support a family," O'Grady stated. "The larger goal is to move wages up for all Rhode Islanders by moving the starting point."

O'Grady noted that people making minimum wage put every dollar earned directly back into the local economy.