Lincoln Chafee - Independent Candidate for Rhode Island Governor

Lincoln Chafee - Indepedent Candidate for Rhode Island Governor

Media

Chafee Proposes New Plan to Maximize $125 Million Rhode Island Loan Guaranty Fund

September 2, 2010

FOR IMMEDIATE RELEASE
September 1, 2010
Contact: Mike Trainor
Phone: 401-252-1097
e-mail: mtrainor@chafeeforgovernor.com

Chafee Plan Would Identify Promising New Businesses Through Competitive Process

Focus on Job Creation, Small Business and Diversification - Limiting Taxpayer Risk _________________________________________________________________________

Warwick, R.I. - Senator Lincoln D. Chafee, independent candidate for Governor of Rhode Island, today announced his 10-point plan to leverage the $125 million Rhode Island Loan Guaranty Fund to maximize job creation while limiting taxpayer risk.

"The $125 million Rhode Island Loan Guaranty Fund is a potentially valuable tool to stimulate job creation, attract new companies to our state, and support new and existing Rhode Island businesses and entrepreneurs," Chafee said. "I intend to leverage the Fund's job creation potential while striving to limit taxpayer risk through diversification."

"As Governor, I will lead the Economic Development Corporation in a prudent, new direction. I will work with the General Assembly and the business community to enact the necessary legislative changes to accomplish my job creation objectives for Rhode Island. My plan has a single goal: to create more high-paying jobs for Rhode Island," Chafee announced.

"The Chafee plan will be guided by three overriding principles: (1) encouraging and rewarding job creation; (2) investing in management and/or businesses with a proven track record of success; and (3) limiting taxpayer risk through diversification and an open and transparent process."

A summary of the Chafee 10-point plan to leverage the Rhode Island Loan Guaranty Fund is as follows:

o    Business Plan Competition - Nationwide Reach. Conduct a nationwide business plan competition (similar to a Request for Proposal (RFP) process) that solicits innovative job creation proposals from compelling businesses and entrepreneurs interested in establishing, relocating or expanding their business in Rhode Island.

o    Aggressive Efforts to Encourage Rhode Island Start-Ups to Participate. Aggressively recruit Rhode Island companies and local entrepreneurs to participate in the new Rhode Island Loan Guaranty Fund business plan competition.

o    Open, Public Process. Establish and conduct an open, public and transparent Rhode Island business plan competition process (while respecting business confidentially concerns), so that taxpayers and other interested stakeholders have confidence in its results.

o    Partner with Colleges, Universities, and Chambers of Commerce. Depoliticize and professionalize the jobs plan competition by involving leading organizations such as the Greater Providence, Central Rhode Island, Newport, Blackstone Valley and other area Chambers of Commerce, the state's public and private universities, and other jobs-centric private and public institutions to assist with the business plan competition review and analysis.

o    Leveraging Rhode Island's Assets: Environmentally Friendly Green Technologies, Health and Life Sciences, and Transportation Hub at Airport. Expand the focus of the Rhode Island Loan Guaranty Fund to accelerate job creation by building upon Rhode Island's existing assets, such as (a) medical/health/life sciences investments in the new Knowledge District of Providence, (b) investments in renewable, environmentally friendly technologies - such as green energy investments at Quonset, and (c) businesses that can maximize existing government investment at the new Station District at TF Green Airport in Warwick.

o    Priority for Small Business. Small businesses and start-ups, especially those with a proven management team or a compelling bankable idea, will be recruited to apply. A designated percentage of the Rhode Island Loan Guaranty Fund will be reserved exclusively for promising small businesses.

o    Loan Guarantee Amounts Range from $250,000 to $6.25 Million. To maximize the number of companies that can benefit from the Rhode Island Loan Guaranty Fund, guarantees would generally be issued for as little as $250,000 up to a maximum of $6.25 million (or amount larger only with sufficiently compelling job creation opportunities). Target loan guaranty support for 50 or more new or existing businesses.

o    Appropriate Equity Stake; Board Position. In order to monitor the taxpayer investment in each company and to ensure that the State of Rhode Island will share in the reward of its investment guaranty, the Chafee plan would include negotiating an appropriate level of representation and possible equity stake and board position in each target company being supported by the guaranty program.

o    Commitment to Diversification. Prudent stewardship of the Rhode Island Loan Guaranty Fund requires sound risk-allocation principles. Therefore, to limit risk of taxpayer money, no single business would be eligible to receive a guaranty in excess of 5% (or $6.25 million) of the Fund, absent compelling business and job creation reasons to exceed that general cap.

o    Commitment to Diversity. The Rhode Island Loan Guaranty Fund should make a special effort to support female- and minority-owned businesses in the loan guarantee awards.

Permalink

Chafee puts former state judge on his campaign team

August 26, 2010

(Entire text pasted below. Click here for original article.)

Projo Politics Blog
By Katherine Gregg

PROVIDENCE, R.I. -- Former U.S. Senator Lincoln D. Chafee has added two advisers to his campaign for governor.

And no surprise, one is retired District Court Judge Stephen P. Erickson -- who accompanied Chafee on his thwarted mission earlier this week to convey his concerns about the $75 million Curt Schilling deal to the state's Economic Development Corporation -- who has signed on as his senior legal adviser.

Erickson will provide legal representation to the campaign as needed and will serve as a member of the campaign leadership team.

Republican-turned Independent Chafee has also signed long-time aide Jonathan Stevens as his director of policy.

Stevens, as director of policy, is leading the development of the campaign platform and will also serve on the leadership team, according to a campaign announcement.

Erickson recently retired after 20 years on the District Court bench.

Prior to that, he did a four year stint as former Governor DiPrete's director of legislative affairs, and spent eight years representing parts of Aquidneck Island as a Republican state representative, getting elected minority whip along the way.

Stevens was legislative director in Chafee's Washington Senate office, office director of his Newport office, Congressional liaison to the administrator of the Environmental Protection Agency, planning director for the City of Warwick, director of economic development for the City of Newport and district press secretary for U.S. Rep. Claudine Schneider.

Click here for original article.

Permalink

Chafee: Let Bush tax cuts expire

August 25, 2010

(Full text pasted below. Click here for original article.)

WPRI.com Blogs
By, Ted Nesi

One thing's for sure - Lincoln Chafee is not running for governor as a tax-cutter.

The latest evidence comes in a Huffington Post interview Tuesday, in which Chafee says he thinks the tax cuts signed into law by President Bush in 2001 and 2003 should be allowed to expire for everyone - including families making under $250,000 a year.

That position puts Chafee, who voted against the tax cuts as a Republican senator, at odds with President Obama and most Democrats (let alone Republicans who want to extend the cuts for everyone) - although not Alan Greenspan, as the piece notes. Here's Chafee:

    "I don't see how anyone could make the argument" that tax cuts for the wealthy will spur economic growth, Chafee said. "Just look at the evidence. When [the tax rates] were put in place in the 90s the economy prospered. When the tax was repealed under Bush, the economy crashed... I know it would be difficult to do, but the evidence would suggest that the wealthy can pay and the economy did rebound when Clinton put that tax policy in place in 1993. It cost him both houses of Congress but the evidence is that [the] economy will benefit."

    Asked specifically if Congress should let the entire package of Bush tax cuts expire, including for those making under $250,000, Chafee tried to draw from the pragmatism he saw in Clinton's approach.

    "Yeah," he said. "The tax cuts expire and they have been a failure. What could be more of a failure than what we have with our economy right now?"

Click here for original article.

Permalink

Lincoln Chafee Calls For Bush Tax Cuts To Expire

(Full text pasted below. Click here for original article.)

Huffington Post
By, Sam Stein

Former Sen. Lincoln Chafee (I-R.I.) said on Tuesday that history has vindicated his opposition to the Bush tax cuts and that by the end of the year Congress should let those tax cuts expire both for the wealthy and all Americans.

In an interview with the Huffington Post, the Republican turned Independent politician -- now running for governor of Rhode Island -- scoffed at the arguments made by his former colleagues who are trying to keep the tax rates at their current reduced levels.

"I don't see how anyone could make the argument" that tax cuts for the wealthy will spur economic growth, Chafee said. "Just look at the evidence. When [the tax rates] were put in place in the 90s the economy prospered. When the tax was repealed under Bush, the economy crashed... I know it would be difficult to do, but the evidence would suggest that the wealthy can pay and the economy did rebound when Clinton put that tax policy in place in 1993. It cost him both houses of Congress but the evidence is that economy will benefit."

Asked specifically if Congress should let the entire package of Bush tax cuts expire, including for those making under $250,000, Chafee tried to draw from the pragmatism he saw in Clinton's approach.

"Yeah," he said. "The tax cuts expire and they have been a failure. What could be more of a failure than what we have with our economy right now?"

Among those debating the efficacy of the Bush tax cuts, Chafee occupies a unique place. He was one of only two Republicans to oppose the first package considered in 2001. It was, at the time, a lonely perch inside the GOP tent. Bush had run his campaign on a promise to provide fiscal relief from the top earners on down. Senator Jim Jeffords, then caucusing with Republicans, joined Chafee in opposing the tax cuts on the grounds that they were irresponsible. Once the size of the package was reduced in conference committee, however, the Vermonter switched his tune. Sen. John McCain (R-Ariz.) would ultimately side with Chafee against the package, but as Chafee recalls it, "McCain's vote came out no where."

The final vote, ultimately, was a loss for the Senator but not a complete setback. While the Bush administration got the tax cuts into law they were forced to sunset the package after ten years, both for budgetary and political purposes.

Continue reading "Lincoln Chafee Calls For Bush Tax Cuts To Expire"

Permalink

NEA-RI endorses Chafee for Governor

WRNI
By, Scott MacKay

Here is the union's message in support of Linc Chafee, who is running as an independent, for governor.

    National Education Association Rhode Island endorses Lincoln Chafee for governor:National Education Association Rhode Island (NEARI) President Larry Purtill today announced that Independent candidate Lincoln Chafee has received the organization's endorsement for governor.

    "NEARI is excited to support Lincoln Chafee for governor," said Purtill. "Our members are public school teachers, education support professionals, higher education faculty and staff, and state and municipal employees, and they have all come to the same conclusion - Rhode Island needs new leadership in the governor's office. We need a governor who will deal with public sector unions and other advocates for children in a respectful way. We need a governor who will make decisions based on actual data and bring Rhode Islanders together to move our state forward. We need a governor who cares about children and working families.

    "We believe that Linc Chafee will be that governor. Linc Chafee cares deeply about children and public education and he understands the hard work that our members do every day. Linc Chafee has a sincere interest in working with us to make Rhode Island a better place for all its citizens, and we expect his tenure as governor will have a unifying effect on our state."

    NEARI Executive Director Bob Walsh stated, "The National Education Association Rhode Island stands ready to help elect Linc Chafee. We believe that Linc Chafee understands the critical role that public education at all levels plays in our state. Linc Chafee is an experienced leader we can trust. We will work to ensure that our more than 11,500 members understand the stakes of the upcoming election, and that they have the resources they need to make an informed decision and participate fully in the process."

    "I am very pleased to receive NEARI's endorsement for the first time in my career," said Chafee. "Rhode Island needs a governor who understands the critical role that education plays in economic development. Good schools are the key to strong communities where families can live and businesses can prosper. I will make education a centerpiece of our economic strategy and will work tirelessly to make our state's education system the finest in the country."

Continue reading "NEA-RI endorses Chafee for Governor"

Permalink

TRANSPARENCY: a clear picture of what is taking place; no smoke screens

Jedword
By, Jed Waverly

You have heard me talk about my favorite coffee shop, the LaSalle Bakery in Providence. It is where I have my bran muffin and coffee every morning. It is also where I read the New York Times, chat with regulars and staff about the Red Sox and the Syracuse Orange. But it also where I get my latest information on the local political scene.   In this city/state it is a constantly-moving target, so frequent updates are necessary.

Yesterday I had a very helpful conversation with one of my political gurus whose name will remain anonymous. I will call him Sean, for any number of reasons.   Sean and his daughters came by my table and before you know it, he and I had lapsed into an update or analysis of the local scene. He and I are supporting the same candidate for Mayor, Angel Tavaras, so there's not a lot of space between our thoughts on him. It sounds like a meeting of a fan club sub-committee when we get going. There will be a Democratic Primary in September which may, or may not, change our mutual situation.

But I asked him about the situation in the Governor's Race, and that became a very interesting conversation. Again, he and I are not far apart on our perceptions of the candidates. However, he said something that made me stop and take a breath. I knew immediately that I was going to write about it today.

One of the candidates for Governor of Rhode Island is former Senator Lincoln Chafee, whose father had been a Governor of the State at one time. Linc, as he is known in Rhode Island, served as a moderate to liberal Republican, primarily during the George W. Bush era. He was someone the Democrats could look to for support on the substantial issues affecting the country. After being defeated for the Senate seat in 2006 he returned to Rhode Island to teach at Brown University and withdrew from the Republican Party. He is running for Governor as an Independent.

I like Chafee, and I like the principles he embraces. I believe he would be a good Governor. My friend, Sean, agreed.

"However," said Sean, "I don't think he's going to win the election. I think Frank Caprio, the probable Democratic contender, will win."

Sean's take on it is that Lincoln Chafee is too honest. It is that statement that is the reason I'm writing this post today. Many, if not most, of you do not live in Rhode Island and could probably care less about who is elected Governor in November.   But the comment Sean made is something that should catch your attention no matter where you live.

Sean is right. One of the high points of the campaign so far is the statement that Chafee made that if he is elected Governor the State of Rhode Island he will probably have to raise taxes.    When is the last time you heard a candidate say such a thing?

The reality is that Chaffee is absolutely correct. There is no way in the world that this state can dig itself out of the economic hole in which it finds itself without adjusting some of the taxes of the people of Rhode Island. Caprio knows that; the Republican candidate knows that; the voters know that.

But the voters don't want to hear it. Lincoln Chafee is a man who is self-confident, and who doesn't "need" to be Governor.   He wants to be Governor, and he has a passion to lead this State out of the situation in which it finds itself. But if it means that he has to pretend that it's going to be all roses and chocolate cake over the next decade, he won't do it. He tells it like it is.

Continue reading "TRANSPARENCY: a clear picture of what is taking place; no smoke screens"

Permalink

Lincoln Chafee has forged a path of independence and he is now prepared, with your support, to bring his unquestioned integrity, proven record of working together for the common good, and ability to represent our state at the highest levels of business and government to the Governor's Office.

Lincoln Chafee Press Bio

Press Releases