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The Scoop: Raimondo Set to Break Quarterly Fundraising Record

Friday, October 11, 2013


Welcome to The Scoop, the 4 p.m. report on everything politics in Rhode Island – the inside daily report exclusively on GoLocalProv.com.

Raimondo Set to Break Fundraising Record for a Quarter

GoLocal has learned that likely 2014 gubernatorial candidate Gina Raimondo posted a record-breaking third quarter of fundraising in the financial period ending Sept. 30.

According to members of Raimondo’s team, the State Treasurer raised over $400,000 last quarter, which began on July 1 and ended Sept. 30.

Although the Raimondo camp has not released the exact figures yet, an estimate of $400,000 would bring Raimondo total cash on hand to more than $2.46 million, which would be the most money a candidate running for state office in Rhode Island has ever finished a three-month period with.

Raimondo finished the last fundraising period (April 1 through June 30) with $2,063,548 on hand after raising $399,420.

The news comes just one day after The Scoop reported that a recent gubernatorial primary poll commissioned by Angel Taveras—which showed the Providence Mayor with a commanding lead—might have strengthened Raimondo’s recent fundraising efforts.

In comparison, Frank Caprio—who was the gubernatorial fundraising leader in 2010—posted his best quarterly period from April 1 through June 30, 2010 when he raised $320,789. After expenses, that brought his campaign total to $1,742,505.

Although Raimondo’s fundraising tally is record-setting on a state level, U.S. Senator Jack Reed currently has more money in his re-election war chest. In fact, Reed—who is seeking his fourth term—raised more than $704,411 during the three-month period ending June 30, which, after expenses, brought his fundraising total to $2,566,703.

Look for more specific financial information to be revealed later this month, as candidates are required to submit their third quarter fundraising by Oct. 31.

Despite the deadline being weeks away, Cranston Mayor Allan Fung released his third quarter fundraising totals on Thursday. Fung, who launched an exploratory committee for governor last month, raised roughly $102,000—bringing his fundraising total to more than a quarter of a million dollars.

Taveras, who has yet to release his third quarter fundraising figures, finished the last quarter with $692,590.12 cash on hand.

Source of data: ricampaignfinance.com

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If you have a scoop for The Scoop, please email it to [email protected]

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Whitehouse v. Cruz

U.S. Senators Sheldon Whitehouse and Ted Cruz debate Obamacare, the government shutdown, and the threat of default on CNN.

Last night, U.S. Senator Sheldon Whitehouse, Democrat, faced off against Republican Senator Ted Cruz to debate the partial government shutdown and the looming Congressional battle over raising the federal debt ceiling on CNN’s Crossfire.  

Cruz, a Tea Party favorite, recently took over the Senate floor for more than 21 hours to speak about the need to defund Obamacare in a marathon filibuster.

Whitehouse, who is amongst a group of Democrats meeting with President Obama to work on reopening the government, has continuously blamed the shutdown on Tea Party “extremists.”

Here’s the video:

Part One

Part Two

Who do you think won?

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Legislators Tout Quonset

House Speaker Gordon Fox and Senate President M. Teresa Paiva Weed highlight Quonset’s Site Readiness to Regional Audience.

Rhode Island Senate President, M. Teresa Paiva Weed (D – Dist. 13, Newport, Jamestown) and Speaker of the Rhode Island House of Representatives, Gordon D. Fox (D – Dist. 4, Providence) have authored a new opinion piece in the New England Real Estate Journal highlighting the innovative site-readiness program at the Quonset Business Park. The legislators highlight the program as an example of ways to reduce red tape and help create more jobs in Rhode Island.

Quonset Business Park is as a key driver of job creation and economic growth in Rhode Island. It is now home to more than 175 companies, with 9,500 full-time and part-time jobs. Its Port of Davisville is one of the Top Ten auto-importers in North America. 

“This program is making it much easier for existing businesses to expand at Quonset and for entrepreneurs to discover what a welcoming climate exists for businesses there,” the authors wrote. “The site-readiness program provides business owners with a streamlined and expedited permitting process, practical tools they need to save them time and money. This is indeed a model initiative that has a demonstrated track record of success.”

The site-readiness program was launched in 2012 and simplifies and expedites the permitting process. Today, 35 pad-ready sites in the Business Park are ready for immediate development by companies. The Quonset Development Corporation (QDC) has completed all the engineering that a developer would have to conduct as part of “due diligence” in order to get a project underway, and worked with various state agencies, including Department of Environmental Management (DEM) and the Coastal Resources Management Council (CRMC), to secure all the baseline permits that a new business would need to develop the parcel.

Paiva Weed and Fox also noted the continued arrival of new companies at Quonset in the piece: “In recent months, more businesses have located and expanded at Quonset. And as the national and local economies begin to turn in the right direction, Quonset is positioned at the forefront of that curve. We stand ready to find more ways to help more companies grow and succeed in Rhode Island. The site-readiness program at Quonset reminds us that it can be done.”

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HealthSource RI Briefing

Briefing to Senate on HealthSource RI slated for Wednesday.

Christine Ferguson, Executive Director of HealthSource RI, will provide a briefing to senators on the state’s new health insurance marketplace next week.

Scheduled for 4 p.m. on Wednesday, Oct. 16, in the Senate Lounge, the informational caucus will help senators address questions from their constituents.

The briefing is open to the public and will be recorded for later broadcast on Capitol Television. It will be streamed live on the General Assembly website.

HealthSource RI came under fire yesterday when the Rhode Island Center for Freedom and Prosperity issued a statement decrying the online health insurance marketplace’s $26 million funding request.

“This wasteful expense was not difficult to foresee, and will become a major headache for state legislators and department of health officials to deal with. Either taxpayers will have to absorb this cost, which will drive more and more people, already taxed to the max, out of our state, or; insurance policies will be taxed, making already high premium rates even more costly for families that merely desire affordable access to quality health care", said Mike Stenhouse, CEO for the Center.

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Constituent Forum

Sen. Catherine Cool Rumsey, Rep. Larry Valencia to host constituent forum.

Earlier today, it was announced that Sen. Catherine Cool Rumsey and Rep. Larry Valencia will host a constituent forum at the Richmond Senior Center, from 11 a.m. to 1 p.m. Saturday, October 19.

The forum, said the two legislators, is an opportunity to discuss and answer questions about issues on their constituents’ minds and they encourage area residents to attend.

The Richmond Community/Senior Center is located at 1168 Main Street, Wyoming (above the police department).

Cool Rumsey is the Democratic State Senator from District 34, Charlestown, Exeter, Hopkinton, Richmond, West Greenwich. She is serving her first term in the Senate and is a member of the Senate Committee on Health & Human Services and the Senate Committee on Environment & Agriculture.

Valencia is the Democratic State Representative from District 39, Hopkinton, Exeter, Richmond. Currently serving his second term in the House of Representatives, he is a member of the House Committee on Finance and the House Committee on Environment and Natural Resources.

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Maciel Decries Yellen

Independent candidate for Congress Jonathan Maciel criticizes President Obama’s nomination of Janet Yellen.

Jonathan Maciel, Independent Candidate for US House of Representatives, RI-1 is criticizing U.S. Senator Sheldon Whitehouse’s announcement that he supports President Obama’s nomination of Janet Yellen to serve as the next Chair of the Federal Reserve.

"I'm rather disappointed that Senator Whitehouse backs the nomination of Janet Yellen as Federal Reserve Chairman,” Maciel told GoLocal. “The Fed needs a chairman that can better regulate the private banking sector. Janet believes in an ultra loose monetary policy, even more so than the current Chairman Ben Bernanke. The Washington Post commented that Janet saw the housing bubble coming yet, prior to the crisis in 2007 and 2008, Janet said several times she didn't see or expect any problems in the foreseeable future. In 2010, the New York Times reported that Janet told the Financial Crisis Inquiry Commission: "For my own part, I did not see and did not appreciate what the risks were with securitization, the credit ratings agencies, the shadow banking system, the S.I.V.'s - I didn't see any of that coming until it happened."

“Under Janet, expect fed interest rates to stay at zero for years, not months, continuing to make the savings accounts of consumers worthless. Instead of tapering on bond purchases, don't be surprised to see the bond purchasing increase under Janet as early as February or March,” added Maciel. “Senator Whitehouse also claims that Janet can help create jobs as chairman of the Fed. Current Fed policy, after investing trillions, has provided negligible to no job growth in the country. If the Fed wanted to create job growth, it could start by purchasing debt obligations of consumers and providing zero interest loans for consumer debt for the sole purpose of reducing consumer costs thereby boosting spending. Until the Fed adopts a policy of consumer debt relief, there will be nothing the Fed can do to promote growth.


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