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NEW: Providence Leaders Endorse Frank Caprio for Treasurer

Tuesday, April 29, 2014


Frank Caprio's campaign for Treasurer of Rhode Island announced that 20 Providence elected officials have endorsed his campaign for Treasurer.

"Providence working families know that Frank will be a strong voice for growing the economy and creating jobs as our next Treasurer," said Senate Majority Whip Maryellen Goodwin and Chairwoman of the Providence City Democratic Committee. "Frank will do everything he can to support our capital city's turn around and to get the economy moving again and I urge Providence voters to send him back to the Treasurer's office."

The Providence elected officials endorsements include: House Deputy Majority Whip Joseph Almeida; State Representative John Carnevale; Senator Frank A. Ciccone, III; City Council Member Michael Correia; House Majority Leader John J. DeSimone; House Deputy Majority Leader and Vice-Chair of the Rhode Island Democratic Party Grace Diaz; Senate Majority Whip and Providence City Democratic Committee Chairwoman Maryellen Goodwin; City Council President Pro Tempore Terrence Hassett; State Representative Raymond A. Hull; City Council Finance Chairman John Igliozzi; City Council Member Wilbur Jennings, State Representative John J. Lombardi; City Council Senior Deputy Majority Leader Nicholas Narducci; State Representative Thomas Palangio; City Councilman Bryan Principe, Senate Majority Leader Dominick J. Ruggerio; City Council Ways and Means Chairman David Salvatore; City Council Member Davian Sanchez; House Deputy Majority Leader Scott Slater; State Representative and Chair of the RI Black and Latino Caucus, Anastasia Williams.

"Frank will fight hard for the issues impacting the community," said House Deputy Majority Leader and Vice-Chair of the Rhode Island Democratic Party Grace Diaz. "He understands that education and economic development need to be the top priorities for state government right now. I can't wait to get out in the community and rally support for Frank."

"I am thrilled to have earned the support of a majority of Providence's elected officials," said Frank Caprio. "I am proud to have represented Providence in the General Assembly and to call Federal Hill my home. I intend to advocate hard for our great capital city in the Treasurer's office as the success of Rhode Island depends on the success of Providence."

Former General Treasurer Caprio faces Democratic challengers Ernie Almonte and Seth Magaziner as potential primary opponents.


Related Slideshow: 7 Strategies for Rhode Island Economic Development in 2014

What will it take to move the Rhode Island economy forward in 2014?  GoLocal talked with elected officials, candidates, and leaders for their economic development plans in the coming year. 

Below are key elements of the economic priorities for Governor Lincoln Chafee, Speaker of the House Gordon Fox, Senate President M. Teresa Paiva-Weed, House Minority Leader Brian Newberry, gubernatorial hopefuls General Treasurer Gina Raimondo and Ken Block, and RI Center for Freedom and Prosperity's Mike Stenhouse.  

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Governor Lincoln Chafee

"My goal is to have the state continue to focus on the fundamentals.  We will invest in education, workforce development and infrastructure , and provide aid to  cities and towns to lessen the burden on property taxpayers.  I’m confident that these investments and our focus on the basics will allow Rhode Island to exceed Moody’s predictions.”
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Speaker Gordon Fox

"Among the many pieces of legislation the House will address will be issues of higher education affordability, expanding apprenticeship opportunities, and offering help to our manufacturers.  We will also look closely at our tax structure to make sure we are competitive with our neighboring states, including the corporate tax and the estate tax, and I will carefully review the recommendations of the commission studying our sales tax.”

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Senate Pres. Paiva-Weed

Greg Pare, spokesperson for the Senate President, said that the Senate is planning to issue recommendations soon on workforce development initiatives to address the skills gap among Rhode Island job seekers.

"An example of a proposal anticipated in that report is the elimination of state’s Indirect Cost Recovery on the Job Development Fund, which is about $1.2 million this year. Those funds would be directed towards job training and skills development programs to provide immediate impact and help workers gain the skills necessary to succeed in today’s economy."

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Gen. Treasurer Raimondo

"To grow our economy, we need to make Rhode Island a leader in manufacturing again.  Great things can happen at the intersection of government, higher education, and the private sector.  Rhode Island is lucky to have thriving institutions in each of these three sectors, and we need to foster collaboration among them to find solutions to our challenges, and spark our economy.  

By promoting partnerships in high-growth areas, [Rhode Island Innovation Institute] will help grow our manufacturing base, and create new, high-quality jobs."  

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Ken Block

"First, we need to fix Rhode Island’s broken Unemployment Insurance program. The state’s Unemployment Insurance tax, paid by employers, is ranked worst in the country by the Tax Foundation. It is one of the factors that makes Rhode Island an uncompetitive place to do business. Also, it is inherently unfair that a large group of businesses are effectively subsidizing the payrolls of a small group of businesses who misuse the system. There is a simple change to state law that can fix this problem."

"Rhode Island’s temporary disability tax (TDI) is broken, and places an unnecessarily high tax burden on Rhode Islanders. This tax, paid for by employees, will be reduced by changing the way we manage the program. As Governor, I will substantially reduce the cost of purchasing this insurance by requiring that Rhode Island’s program adhere to national norms."

"To best encourage new job creation, I propose the following tax incentive: exempt from future capital gains taxes any new investments in Rhode Island-based businesses. This change would create a powerful incentive for investors who are deciding where to locate a new business, or where they relocate an existing one. This proposal has the potential change the economic playing field for Rhode Island."

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Minority Leader Newberry

“It would be overly ambitious to set being #1 as a goal right now, but we think 25, the middle of the pack, is a reasonable goal to set, one we think we should pursue, and one we can achieve,” said Newberry. "One of the initiatives is a requirement that every bill receive a fiscal evaluation before it can be heard by committee, better insuring that legislators know the real cost of the legislation they are acting on."

"Another proposal would exempt social security income from RI state income tax, making Rhode Island more tax-friendly for our seniors and keeping them here rather than migrating to more tax-friendly states."

“Strong action is way overdue here. Nearly 60% of Rhode Islanders now believe that the state is headed in the wrong direction. We think they’re right, and our central goal is to get it turned around."

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Mike Stenhouse

"As part of the Center's 2014 Prosperity Agenda we recommended that the state:
Repeal or rollback of the state’s regressive sales tax; or the requirement that families have no choice on what schools best educate their children; or punitive estate taxes that drive wealthy people to other states; or restrictions on out-of-state companies to sell health insurance in RI; or the minimum franchise tax, which stifles entrepreneurship; or corporate welfare, to level the playing field; or even renewable energy mandates that drive up costs for every family and business …"

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