Top 25 Richest Politicians in Rhode Island
Monday, December 19, 2011
With less than 11 months before the 2012 elections, Rhode Island’s elected officials are loading up on cash donations, GoLocalProv has found.
Federal and state campaign finance records show that the 25 largest war chests in the Ocean State currently add up to more than $7.2 million, with the four members of the Congressional Delegation and General Treasurer Gina Raimondo leading the pack.
In total, ten members of Congress, statewide general office holders, state lawmakers and mayors have more than $100,000 in their campaign accounts. Senators Sheldon Whitehouse ($2,592,876) and Jack Reed ($2,216,537) are the only locals with more than $1 million in cash on hand. Whitehouse is being challenged by Republican Barry Hinckley and Reed is not up for re-election next fall.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTThe list does not include anyone who is not currently holding office.
Governor Ranks 9th
Other members of the $100k club include House Speaker Gordon Fox, Senate Judiciary Chair Michael McCaffrey, Johnston Mayor Joseph Polisena, Cranston Mayor Allan Fung and Governor Lincoln Chafee.
Chafee, who won’t have to run for re-election until 2014, ranks 9th on the list of Rhode Island war chests, with $105,501.83 as of the end of the third quarter. The Governor held a fundraiser earlier this month at the Wannamoisett Country Club, where suggested contributions ranged from $250 to $1,000.
Chafee hasn’t held too many well-publicized fundraisers during a turmoil-filled first year in office, and with his approval rating on the decline, donors may be hesitant to keep shelling out cash moving forward. The latest Brown University poll, released last week, shows Chafee’s approval rating has dropped to 27 percent among Rhode Island voters.
Raimondo a Powerhouse
But while Chafee’s popularity continues to nosedive, Raimondo has quickly become a force to be reckoned with. The same Brown University pegged her approval rating at 52 percent. Voters largely credited Raimondo with crafting the legislation to overhaul the state’s pension system. The bill overwhelmingly passed both General Assembly chambers and was signed into law last month.
Raimondo has been a proven powerhouse in the fundraising department since her 2010 campaign and has drawn high praise for her work as Treasurer since taking office. In September, Darrel West, Vice President and Director of Governance Studies at the Brookings Institution in Washington D.C, said her fundraising prowess suggests she has the ability to run for higher office.
“It is a testament to her fundraising prowess and an indication she is keeping her options open for future races,” West said. “She is someone who is doing a terrific job and addressing issues of great importance to Rhode Island voters.”
Quest Research pollster Victor Profughi said Raimondo appears to enjoy raising money.
“I think she has been successful because, unlike so many candidates I have worked with over the years, she seems to enjoy the task,” he said. “In addition she is a relatively fresh face, very visible, and willing to tackle a tough issue--pension reform.”
5 Mayors Make List
Twenty percent of the list is made up of mayors, both from the state’s larger cities and from smaller towns. While Polisena and Fung lead the way among local chief executives, Warwick Mayor Scott Avedisian, Cumberland Mayor Dan McKee and North Providence Mayor Charles Lombardi all crack the top 25.
According to the Secretary of State’s office, three cities and towns (Providence, North Providence and Central Falls) have elected Mayors serving four-year terms while the leadership in Cranston, Cumberland, Johnston, Pawtucket, Warwick and Woonsocket are forced to run for re-election every two years.
The quick turnaround between election cycles does force incumbents to place a focus on fundraising throughout their term in office, more so than for those elected every four years. For example, two Providence City Councilman (Michael Solomon and Terry Hassett) make the list over Providence Mayor Angel Taveras, who has held very few fundraisers during his first year in office. In fact, Taveras, who won’t face re-election until 2014, trailed more than half of the City Council in fundraising as of the third quarter.
Brown Political Science professor Wendy Schiller said a two-year a term puts the pressure on incumbents.
“On the question of fundraising, the two-year term typically puts more immediate pressure on incumbents to start raising money the day after they get sworn in, but strategic incumbents in both two and four year positions (some states have two-year governships) use early fundraising to shore up their own base and scare away challengers,” she said.
Mostly State Lawmakers
Similarly, state lawmakers also face the constant pressure of having to raise money for elections that occur every two years. In total, a dozen mostly veteran State Representatives and Senators find themselves in the top 25.
In the case of the General Assembly, however, some critics have questioned the amount of time members spend raising money. A study published by the New Harbor Group earlier this year found that General Assembly races, on average, usually cost less than $25,000.
This fall, Common Cause Executive Director John Marion said he has seen legislators leave hearings to attend fundraisers.
“We think members of the General Assembly spend way too much time fundraising, and it's a big distraction from their duties as lawmakers,” Marion said. “Many nights of the legislative session we see legislators leaving committee hearings to attend fundraisers, which is disappointing to say the least. Even worse, we see leadership having large fundraisers right at the end of the session before many of the most important issues in the state are being decided.”
Marion said there are a few options for correcting the current system.
“We believe there should be a system of public financing so that qualified candidates don't have to worry about this,” he said. “We have also supported the concept of banning fundraisers during the legislative session, although we have not proposed a bill on that yet.”
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