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It's day three of governor week here on countdown -- the closing bell Rhode Island is a little state that's facing some pretty big economic problems.
With unemployment already in the double digits it's already actually putting the stimulus cash that it's getting to work.
But reviving the State's economy it will be no small task joining me now from Providence, Rhode Island.
First on Fox Business we're thrilled to welcome governor Donald -- cheery welcome governor thanks for being here.
They feel -- my pleasure and have been a Rhode Island.
Of course I would do you know what I did visit WH EH in Boston Zelaya.
Data -- to do your dancing cop you know the dancing police officer -- Tony incident does a great -- it's a great state you know what it's a fantastic -- lots of -- That would get what we got some tough issues right now you're up here right.
-- you sure do specifically.
The unemployment rate.
Which could be solved if you could attract more businesses both large and small picture corporate tax rate.
Is what 9% in and I think that that's very onerous for people all I've heard from businesses ever since I lived in Massachusetts was.
It's hard to do business -- tax to -- -- but don't try Rhode Island either how do you change -- percent.
-- that's exactly what we're in the process of trend changing because.
You're right I've said all along what we knew there was grow jobs in order that you gotta have businesses stay here and grow attract -- businesses here.
And we've had too many obstacles in the way and our tax -- being one of them.
One of the things I've done as part of this stimulus and they -- ten budget.
Is -- actually.
Take the corporate tax rate down we're going after three things right now.
Bring the corporate tax rate down from nine to seven and a half and actually over the four years after that phase it out completely.
I'd like to be able to say there's no corporate income tax in the center around how would that sit in terms of attracting businesses and keep an -- also we're gonna cut personal income taxes and we're gonna cut the death the death tax which has been.
Really -- also on -- and our state.
So this is a tough issue right now because it you know at the time when revenues of the state -- -- facing a lot of different issues.
That we're having to deal with the but I'm convinced and having lived here my whole life having done business here.
That we've got to make ourselves more attractive the business at the end of the day the private sector and businesses will employ people and create the kind of growth in the economy that we need going.
Forward well it takes a dramatic step I think lowering it from nine to seven and a half isn't exactly gonna do it but boom if you can get rid of the corporate tax rate entirely.
That would be like dangling a gigantic piece of candy in front of these guys let me ask you have -- -- -- -- to be hanging out down at the welcome this what you.
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