Rhode Island taxation.l example. Now, when bidding for a contract. The contractor simply inflates the cost of the project by .03%?
Dear Registered Vendor:
In 2025, the Rhode Island General Assembly amended the βState Purchases Actβ via R.I. Gen. Laws Β§ 37-2-12(b) to authorize the Chief Purchasing Officer to establish, charge and collect from State contractors a contract administrative fee not to exceed one-third of one percent (0.33%) of the total value of the annual spend against a contract awarded to a State contractor, effective January 1, 2026. All contract administrative fees collected pursuant to this subsection shall be deposited into a restricted receipt account which shall be used for the purposes of implementing, maintaining, or operating technology for the submission and processing of bids, online vendor registration, bid notification, and other costs related to State procurement, including staffing.
In accordance with this legislation, the 0.33% contract administrative fee is applicable to all Contracts/Purchase Orders issued by the State of Rhode Island except for those services whose fees are otherwise set in statute or exempt from competitive procurement pursuant to applicable provisions of 220-RICR-30-00-9 and/or 220-RICR-30- 00-10. Therefore, effective January 1, 2026, all eligible contracts shall be assessed the 0.33% contract administrative fee.
The Federal Reserveβs Summary of Economic Predictions is just full of disclaimers. Like they have no idea what they are doing. Thankfully they give these helpful graphs to confirm how confused fiat is. π.pdf
