Governor Chafee Signs Executive Order Establishing America's Cup World Series Host Committee

Governor Chafee signed Executive Order 11-11, which establishes the America's Cup World Series Host Committee on December 1. Internationally renowned sailor and CEO of ORACLE Racing Russell Coutts, America's Cup Event Authority Chairman and Chief Executive Officer Richard Worth, and Executive Director of Sail Newport Brad Read were present for the ceremony.

The Committee, headed by Brad Read, will lead the state's efforts in hosting the America's Cup World Series in Newport from June 23 - July 1, 2012. The Rhode Island Economic Development Corporation (RIEDC) has estimated that the event could create hundreds of new jobs and pump more than $70 million into the state's economy.

"The America's Cup World Series races have great potential to bring job creation and revenue to Rhode Island," Governor Chafee said. "Newport has long, strong ties to the America's Cup, and these races renew that historic connection. The Host Committee established today, led by Newporter and renowned sailor Brad Read, will help to coordinate important preparation efforts to ensure that this exciting event is thoroughly successful."

Members of the Host Committee will include representatives from Rhode Island businesses, state agencies, municipalities, and event management agencies.

Statement from Governor Chafee Regarding the Complaint Filed Today in Superior Court

This lawsuit was not unexpected, and the Lt. Governor and I remain confident in our legal position and comfortable with the path we have taken to establish Rhode Island’s Health Benefits Exchange. Without our action to establish this exchange, Rhode Island would have missed out on more than $58 million in funding and would have, instead, had a one-size-fits-all, generic system imposed on it by the Federal Government.

RI Awarded Unprecedented $58 Million in Level II Funding for Health Benefits Exchange

Governor Lincoln Chafee and Lieutenant Governor Elizabeth Roberts announced on November 29 that RI will be the first state in the nation to receive Level II funding for its Health Benefits Exchange. The additional federal funding for Rhode Island follows a $1 million Exchange planning grant awarded in September 2010 and a Level I establishment grant for $5.2 million awarded in May 2011.

“I am extremely pleased with the progress we are making toward making accessible and affordable healthcare a reality for Rhode Island families and small businesses,” said Governor Chafee. “For Rhode Island to be selected as the first state in the nation to receive this grant is a testament to what we can accomplish when we work together on something of great importance to all Rhode Islanders: access to affordable, high quality health care.”

“I attribute today’s grant award to the Governor’s leadership on this issue, establishing a historic collaborative effort of the Executive Office of Health and Human Services, the Office of the Health Insurance Commissioner, the Department of Administration and the public RI Healthcare Reform Commission. Together, they are all working tirelessly to improve healthcare options for Rhode Islanders,” said Lt. Governor Roberts, Chair of the RI Healthcare Reform Commission.

The RI Health Benefits Exchange, established by Governor Chafee’s executive order in September, is expected to start offering insurance plans in October of 2013.

Statement from Governor Chafee Regarding Massachusetts’ Casino Vote

Rhode Island receives more than $300 million annually from the lottery, Twin River, and Newport Grand. This is the third largest source of state revenue.

Given the significance of that revenue stream, I have been closely following the debate in the Massachusetts House and Senate over the question of allowing casino gambling in the Bay State. I have anticipated for some time that today would come and my administration has taken proactive steps in preparation for it.

VIDEO: Comprehensive Pension Reform for Rhode Island

Statement from Governor Chafee Regarding the Rhode Island Retirement Security Act

I am very pleased that the Board of Directors of the Greater Providence Chamber of Commerce today voted to endorse the Rhode Island Retirement Security Act (RIRSA), the comprehensive pension reform plan that Treasurer Raimondo and I submitted to the General Assembly this week.

RIRSA asks each of the three main interested parties – retirees, current employees and the taxpayer – to do their share to comprehensively address this problem. Everyone must share in the sacrifice to restore fiscal health to our pension systems and to help our economy recover.

Statement from Governor Chafee Regarding Municipal Pension Reform

As a former Mayor and City Council member, I am deeply committed to the fiscal health and stability of Rhode Island’s municipal pension systems. I am, therefore, encouraged by today’s announcement by the Rhode Island League of Cities and Towns regarding the comprehensive pension reform plan that General Treasurer Raimondo and I proposed earlier this week.

The League clearly acknowledges that comprehensive pension reform must restore financial solvency to both the state-operated and independent municipal pension funds. Since taking office in January, and as I highlighted in my budget address in March, I have consistently stated that we must address our failing state and municipal pension systems. The plain truth is that many of our municipal pensions are in far worse shape than the state pension system. These include Coventry Police at 16.5% funded, Cranston Police & Fire at 15.8% funded, and Smithfield Police at 11.4% funded.