The Scoop: Block Says He Can Save RI'ers Up to $400 Per Year
Anthony Faccenda, The Scoop
The Scoop: Block Says He Can Save RI'ers Up to $400 Per Year
Republican candidate for governor Ken Block has a plan to reform the state’s Temporary Disability Insurance system, which he says would save Rhode Islanders up to $400 per year.
“I have a plan to cut the cost of our temporary disability insurance program in half, saving $80 million dollars a year. By doing so, we can reduce the cost to employees and put money back into the pockets of working Rhode Islanders,” Block told GoLocal.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLAST“My plan to cut the cost of TDI by 50% is based on a comparison with New Jersey’s program, which costs a maximum of just $350 per year. In Rhode Island, the annual cost is double that,” added Block.
Rhode Islander workers are currently required to pay up to an average of $750 in TDI annually—meaning that Block’s projected cost reduction could save residents as much as $400 per year.
“To realize these savings, we need to implement better controls on how the program is used,” Block told GoLocal. “A significant part of the problem is when people use the program for longer than is medically necessary. As Governor, I will fix this.”
TDI in RI
Rhode Island’s TDI program was enacted in 1942—making it the first such system in the United States. It protects workers against wage loss resulting from a non-work related illness or injury, and is funded exclusively by Rhode Island workers. Only four other states: New York, New Jersey, California and Hawaii, as well as the commonwealth of Puerto Rico, have a TDI program. For more information visit: http://www.dlt.ri.gov/tdi/
2014 Race for Governor
Block, who announced he would run for governor as a Republican earlier this month, will square off against Cranston Mayor Allan Fung in next September’s Republican Primary. According to GoLocal's ongoing "GOP Governor Nominee: Block or Fung" poll, Fung has received 2,673 votes compared to 1,918 for Block. Click here if you would like to cast your vote.
On the Democratic side, Providence Mayor Angel Taveras, who announced his candidacy last month, is currently the only major candidate to join the race. General Treasurer Gina Raimondo is expected to announce her candidacy by the end of the year.
GoLocal first reported last month that Clay Pell, grandson of the late six-term Senator Claiborne Pell, is also considering entering the race. Todd Giroux, who ran as an Independent in 2010, announced last month that he’d run as a Democrat in 2014.
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Job Creation in RI
New effort to boost job growth in RI through foreign investment.
In an effort to spur job creation and boost economic development in Rhode Island, U.S. Senator Jack Reed, Providence Mayor Angel Taveras, and officials from Pathway Capital Partners have announced a new EB-5 Regional Center aimed at attracting foreign investment to Rhode Island.
“We need to be smart about bringing jobs and economic development to Rhode Island and this program can help the state become a magnet for foreign investment,” said Senator Reed, who supported Pathway’s application to be federally-designated as an EB-5 Regional Center. “We need to work together to increase Rhode Island’s competitiveness and position the state as a destination for innovation, investment, and entrepreneurship. This is an important program for Rhode Island with a great deal of potential to provide new entities, businesses, developments, and entrepreneurs with a new capital channel to access foreign investment and create jobs here in Rhode Island.”
Created by Congress in the 1990s, the Immigrant Investor Program, also known as “EB-5,” is a visa program designed to attract new capital from foreign investors interested in making a substantial investment in the U.S. economy. Under the EB-5 Regional Center Pilot Program, multiple foreign investors join together, each of them contributing at least $500,000 toward new U.S. business ventures that will result in a minimum of 10 full time jobs.
There are currently over 320 EB-5 Regional Centers operating in the U.S., including a dozen in New England, but until now there haven’t been any based in Rhode Island. This new center could help create jobs in the Ocean State and raise Rhode Island’s profile among international investors.
Regional Centers identify investment opportunities that will create jobs in local communities, often in partnership with economic development agencies. They also assist in marketing those investment opportunities to investors from around the world and ensure that the investment offering complies with federal and state securities laws and SEC regulations as well as specific EB-5 requirements.
Center Announces Board
RI Center for Freedom and Prosperity announces Board of Officers.
The Rhode Island Center for Freedom and Prosperity has announced its recently elected group of Officers for its Board of Trustees.
At its annual meeting last month, Dr. Daniel Harrop was re-elected as Chairman; Mike Riley was elected as Vice Chairman; Jay Jacot remains as Treasurer; and James Lynch remains as Secretary.
The Rhode Island Center for Freedom and Prosperity is a nonpartisan public policy think tank that primarily focuses on tax policy and business climate.
East Bay Bridge Meeting
East Bay Bridge Commission to discuss infrastructure-funding strategies.
The Special Legislative Commission to Study the Funding for East Bay Bridges will meet this Wednesday at 4 p.m. in the State House to discuss infrastructure issues and state funding ideas.
The agenda includes a presentation from Jaime Rall, of the National Conference of State Legislatures; a question and answer session with commission members; and a period of public testimony, which must pertain to the presentation topic.
There is also an opportunity to offer written comments for the commission’s consideration at http://webserver.rilin.state.ri.us/bridgefunding/contact.html.
The commission, co-chaired by Rep. Helio Melo (D-Dist. 64, East Providence) and Sen. Daniel Da Ponte (D-Dist. 14, East Providence), was established during the 2013 legislative session to allow lawmakers and officials from affected state departments and agencies an opportunity to investigate various funding plans, potentially eliminating the need for tolls on the Sakonnet River Bridge.
