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Chafee Calls Out Raimondo Administration for “Candy Store” Economic Development Strategy

Friday, February 17, 2017

 

Lincoln Chafee strongly opposes Raimondo's economic strategies

Lincoln Chafee, former Mayor, U.S. Senator and Governor, took Rhode Island Governor Gina Raimondo’s administration to task for promoting economic growth by funneling tax dollars to some of America’s richest corporations.

Appearing on GoLocal LIVE with GoLocal News Editor Kate Nagle, Chafee said the Raimondo’s transfer of taxpayers dollars to billion dollar companies such as General Electric and Johnson & Johnson was flawed.

“I have never liked corporate welfare. It's unfair to existing businesses…some out of state business comes in and you give them the candy store. I just don’t like it," said Chafee.

Chafee said the approach needs to be built on fundamentals. “I think a better way to build the economy is through investment and education and infrastructure. Then lower taxes -- under my approach, unemployment went from over 11 percent to under 6 percent. (And) we created more jobs than the candy store approach.”

Chafee said he was disappointed that millions of dollars “out the window to General Electric and J&J. I don’t like it.”

Eye to the Future

Chafee, when asked if he was interested in running for office again, said it was too early to speculate, but did not rule if out.

Chafee also spoke proudly of the success of attorney Max Wistow in recovering over $60 million in 38 Studios dollars. Chafee had developed the strategy and hired Wistow while he was Governor.

See the full interview with former Governor Chafee on GoLocal LIVE.

 

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