Windfall pension disaster bailout plan will get sure from RI lawmakers
in

Windfall pension disaster bailout plan will get sure from RI lawmakers

[ad_1]

PROVIDENCE — Mayor Jorge Elorza’s pension obligation bond invoice cleared its first main hurdle on Thursday, as Home Finance Committee lawmakers voted in favor of permitting Windfall to borrow $515 million in hopes of fixing its pension disaster.

The invoice, which might authorize the town to difficulty the bond, is sponsored by six of the committee’s members – Reps. Scott Slater, Camille Vella-Wilkinson, Raymond Hull, Gregg Amore, William O’Brien and Grace Diaz – along with Reps. Anastasia Williams, Carlos Tobon, David Morales and Carol McEntee.

Rep. George Nardone mentioned he’s opposed. Rep. Deborah Ruggiero, who helps the invoice, discovered the town’s thought to be “a significantly better proposal” than a considerably bigger bond floated final yr. 

Mayor Jorge Elorza

In an announcement, Elorza advised the Journal that his “group will not be taking something without any consideration.”

“I plan to proceed partaking Basic Meeting members over the approaching weeks in each chambers to make sure they’ve all of their questions answered and have probably the most up-to-date info earlier than any votes are taken,” Elorza mentioned. “I’m assured that when they’ve all the info they want, they are going to agree that that is Windfall’s finest path ahead to meaningfully tackle our personal pension difficulty.”

[ad_2]

Source_link

Leave a Reply

Your email address will not be published.

Written by worklifecoach

The West Coast Kustoms Automotive Present and Cruise returns to Santa Maria

The West Coast Kustoms Automotive Present and Cruise returns to Santa Maria

Dwell information: Alibaba leads China tech rally after beating earnings estimates

Dwell information: Alibaba leads China tech rally after beating earnings estimates