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McKee committed to PPP taxation over $150K Updated at 7:07 p.m. on April 7, 2021 GOV. DANIEL J. MCKEE is committed to a budget proposal calling for taxation of Paycheck Protection Program loans over $150,000 that would generate about $67.7 million in general revenue in 2021 and 2022. / AP PHOTO/STEVEN SENNE PROVIDENCE – Gov. Daniel J. McKee’s proposal to tax forgiven Paycheck Protection Program loans greater than $150,000 would generate an estimated $67.7 million in revenue for the state in fiscal years 2021 and 2022, according to the governor’s office. Despite growing opposition from business groups, McKee spokesman Matt Sheaff on Wednesday said the governor remains committed to the proposal, which marks a shift in policy from what Paul L. Dion, chief of the R.I. Office of Revenue Analysis, told the Senate Committee on Finance in January.

Rhode islandUnited statesDanielj mckeeJim thorsenSarah bratkoLiz catucciPaull dionAlan krinskyNorthern rhode island chamberDepartment of revenueHouse committee on financeRi hospitality associationRi office of revenue analysisPaycheck protection programEconomic progress instituteClimate change