Rhode Island

Killed during budget talks, Citizens Bank bill brought back to life • Rhode Island Current

Published

2 years ago

June 10, 2024

Killed during budget talks, Citizens Bank bill brought back to life • Rhode Island Current

House Speaker K. Joseph Shekarchi assured reporters Friday night that a proposed tax law rewrite requested by Citizens Bank was not dead, despite its glaring absence in the revised fiscal 2025 budget.

Less than 72 hours later, the Warwick Democrat produced the proof: revised legislation authorizing the shift in state bank income tax calculations, with hearings before both chambers’ finance committees Tuesday.

What changed?

“It wasn’t ready,” Shekarchi said, speaking to reporters at the State House Monday afternoon. “Taxation was opposing it. The administration was opposing it. I certainly wasn’t going to put it in the budget for debate. Now, those two House priorities have been met.”

He added, “I wanted to make sure the taxpayer was protected.”

McKee pushes state tax rewrite to keep Citizens Bank rooted in Rhode Island. But will it fly?

The updated companion bills, sponsored by Rep. Joe Solomon, a Warwick Democrat, and Sen. Lou DiPalma, a Middletown Democrat, come after months of behind-the-scenes negotiations between state officials and bank executives dating back before Christmas, Shekarchi said.

The tax change, in essence, offers banks the option to calculate their taxable income based only on in-state sales, replacing the longtime “three-factor” calculation encompassing in-state sales, property and payroll. While not explicitly written for Citizens, the financial services giant has the most to gain from the proposal; unlike other banks in Rhode Island, Citizens makes most of its money from services outside state borders, yet its physical presence and payroll are weighted toward the Ocean State.

Other states, including neighboring Massachusetts, have already moved to a similar tax calculation method, a trend referenced by Mike Knipper, executive vice president and head of property and procurement for Citizens Financial Group Inc., in an April letter to state lawmakers.

Knipper in his letter warned that without a similar tax update in Rhode Island, the company “would strongly consider expanding its corporate footprint and employee base outside of Rhode Island because of differing tax treatment among the states.”

On May 10, Gov. Dan McKee proposed a budget amendment offering up the requested rewrite of the bank income tax calculation, with an estimated $15.6 million in state tax revenue loss for a full fiscal year.

However, McKee’s proposal did not make the cut when lawmakers unveiled their revised fiscal 2025 spending plan on May 31, with Shekarchi citing lack of detail and time to vet the proposal before finalizing the state budget.

Yet Shekarchi also said he would not be responsible for losing one of the state’s top employers, which boasts a 4,200 in-state payroll and a $285 million Johnston headquarters.

Negotiations ramped up in earnest over the last week and half, with Shekarchi texting key players in the tax proposal from the rostrum of the budget debate Friday night. A weekend of closed-door meetings and phone calls later, the deal emerged.

Key to Shekarchi’s change-of-heart was the OK from the Rhode Island Division of Taxation, which had initially expressed concerns with the legislation when first introduced by Solomon in March. Tax officials gave the green light to the revised proposal Sunday, Shekarchi said.

The updated legislation clarifies the way taxes are calculated to avoid double-taxation — one of Citizens’ concerns — and refines the information the state tax division must collect and review, with a report to lawmakers detailing the impact of the tax change due no later than March 2027.

“Citizens is encouraged by recent progress and greatly appreciates the leadership of Governor McKee, Speaker Shekarchi, Senate President Ruggerio and all others involved,” Keith Kelly, president of Citizens Bank Rhode Island, said in a statement. “We look forward to continuing to work closely with the state towards an outcome that is a win for both the business community and Rhode Island.”

Citizens declined to offer further comment Monday.

From left: House Majority Whip Katherine Kazarian, House Speaker K. Joseph Shekarchi and Rep. Joe Solomon speak to reporters at the State House on Monday, June 10, 2024. (Nancy Lavin/Rhode Island Current)

‘Vigorous and robust debate’

The tax calculation change is still expected to reduce state tax revenue by $7.5 million in tax year 2025, with a forecasted $15 million revenue loss in fiscal 2026. While the policy is not accounted for in the state’s fiscal 2025 budget, there won’t be any cuts or structural imbalances, Shekarchi said.

Instead, the state will take $6.5 million from the $55 million set aside for a supplemental rainy day fund in fiscal 2024, with another $1 million siphoned from the state surplus, to make up for the expected revenue shortfall in fiscal 2025.

“It was a judgment call,” Shekarchi said when explaining his decision to not include the policy change in the fiscal 2025 budget. “I didn’t want this one unsettled article to be the focus of the budget.”

He insisted multiple times, however, that the proposal will have plenty of time for a thorough vetting by lawmakers; the House Committee on Finance hearing Tuesday marks the third time a version of the tax change has been considered, with prior hearings held on Solomon’s bill and the governor’s budget amendment.

“There will be a vigorous and robust debate,” Shekarchi said.

There’s still no guarantee that the hours of closed-door negotiations prevent Citizens from uprooting anyway, Shekarchi acknowledged.

However, he added, “I think Citizens would be hard-pressed to move. They wanted this very badly.”

As for concerns raised by some lawmakers that changing state tax law to benefit one business will set a precedent for other corporations, Shekarchi dismissed the logic.

“In my mind, there’s no precedent,” he said. “Just because you do it for one, doesn’t mean you do it for another.”

McKee and Senate President Dominick Ruggerio also expressed support for the tax deal in statements on Monday, stressing the importance of parity between Rhode Island and Massachusetts, which is scheduled to move to the single-factor tax calculation starting Jan. 1.

Laurie White, president of the Greater Providence Chamber of Commerce, also welcomed the revival of the tax change, having issued an email warning last week when it appeared the policy would not make it into the fiscal 2025 budget.

“Happy to see that all sides are working towards finding a solution,” White said in a text message Monday. “I applaud the progress being made by Gov. Dan McKee, Speaker Shekarchi, President Ruggerio and Citizens.”

If signed into law, the tax change would take effect Jan. 1.

The House Committee on Finance will take up the revised tax change at 3:30 p.m. Tuesday at the State House. The Senate Committee on Finance will follow suit with a hearing on companion legislation Tuesday night.

GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX

Source link

Click to comment

Rhode Island

Man allegedly kills man in R.I. before causing car crash that killed 2 in Mass.

Published

10 hours ago

March 2, 2026

Press Room

Man allegedly kills man in R.I. before causing car crash that killed 2 in Mass.

Local News

“On behalf of the Cranston Police Department, I want to extend my deepest condolences to the family and loved ones of Javon Lawson and the two individuals who were killed in the crash in Swansea,” Col. Michael J. Winquist said.

A Seekonk man is accused of murder after he allegedly shot and killed a man in Rhode Island before causing a car crash in Swansea that killed two people last week, police said.

Demitri Sousa, 28, is charged with murder, using a firearm while committing a crime of violence, and carrying a pistol without a license, the Cranston Police Department said.

The shooting occurred Thursday night in Cranston, police said in a press release.

That night, Sousa allegedly arrived at the Cranston home of Javon Lawson, 35. Sousa began banging on the side door of the home, police said.

When Lawson approached the door, he was hit by gunfire from outside, police said.

First responders transported Lawson to the Rhode Island Hospital, where he was pronounced dead, Cranston police said.

“Based on the preliminary investigation, the motive is believed to be a dispute between the suspect and the victim over a mutual female acquaintance. Detectives are continuing this investigation to gain more insight, as well as to collect and analyze evidence,” Colonel Michael Winquist, Chief of Cranston police, said in an emailed statement to Boston.com.

Neighbors gave police video footage that “showed a male subject wearing dark clothing and a mask walking toward the residence moments before the shooting and fleeing immediately afterward,” Winquist said.

The suspect was also seen running to a white Infiniti sedan which then drove off, the Cranston police chief said.

Shortly after the shooting, a license plate reader captured the vehicle driving southbound on Route 10, and then later in Fall River and Westport, Massachusetts. The sedan’s license plate was registered in Sousa’s name, Winquist said.

At around 12:18 a.m. Friday, Swansea police spotted Sousa’s Infiniti barreling down Route 6, Swansea officials said.

Just moments later, Sousa allegedly “crashed into the side of another vehicle, a blue 2022 Subaru Ascent that had been traveling southbound on Route 136,” Swansea Police Chief Mark Foley and Fire Chief Eric Hajder said in a joint press release.

Both vehicles had “catastrophic damage,” and the struck car was engulfed in flames, the Swansea officials said.

The driver and passenger of the hit car — a man and a woman — were declared dead at the scene, they said.

“Swansea Police had been alerted to be on the lookout for the suspect vehicle. However, Swansea Police were not involved in the pursuit and were not pursuing the vehicle at the time of the crash,” the Swansea chiefs wrote. Swansea official have not announced charges related to the fatal crash.

Sousa had been driving the Infiniti and appeared to be suffering from serious injuries, Winquist said. Inside the car, police found a pistol and “additional .22 caliber ammunition was recovered” from Sousa at Rhode Island Hospital, Winquist said.

Police arrested Sousa and transported him to Rhode Island Hospital. Sousa is expected to survive, Winquist said. Sousa will be held in Cranston police custody until he is conscious and medically cleared, Winquist said.

“On behalf of the Cranston Police Department, I want to extend my deepest condolences to the family and loved ones of Javon Lawson and the two individuals who were killed in the crash in Swansea,” Winquist said.

Sign up for the Today newsletter

Get everything you need to know to start your day, delivered right to your inbox every morning.

Source link

Rhode Island

Rhode Island men’s basketball extends slide with loss to St. Joseph’s

Published

22 hours ago

March 1, 2026

Press Room

Rhode Island men’s basketball extends slide with loss to St. Joseph’s

SOUTH KINGSTOWN – Whatever hopes the University of Rhode Island harbored for a men’s basketball Senior Day upset of Saint Joseph’s disappeared on a rare made 3-pointer.

Jaiden Glover-Toscano connected on just one of his eight attempts from deep, and it turned out to be a backbreaker. The Hawks mustered just enough offense to hold off the Rams at the Ryan Center in an Atlantic 10 rock fight that went to the visitors.

Glover-Toscano hit from the left wing with 3:37 left, restoring a two-possession lead. Saint Joseph’s did just enough from there to finish a 61-55 victory on Feb. 28 and extend URI’s late-season slide.

“We needed to get that stop,” URI coach Archie Miller said. “It was in the balance. Those last three minutes, whoever was going to make the play or get the stop was going to win.

“They made a big shot right there.”

The Rams cut a 13-point deficit all the way to 56-55 when Tyler Cochran knocked down both ends of a 1-and-1 at the line with 3:54 left. The Hawks overloaded the right side on the ensuing possession, and Derek Simpson got a step on his man toward the paint. He fired a crosscourt pass to Glover-Toscano that caught URI’s defense rotating, and the air came out of the announced 6,391 fans in the building when the net rippled in front of the visiting bench.

“We weren’t able to convert,” Miller said. “That’s kind of the name of the game. You’ve got to have some plays go your way.”

Myles Corey missed a 3-pointer at the other end, and Simpson played facilitator again to give Saint Joseph’s more of a cushion. He found Justice Ajogbor rolling to the rim for a slam with 2:36 left and it was a six-point game. Neither team scored again on an afternoon where they both shot under 40% from the field and went a combined 10-for-61 from deep.

“The bottom line for our team today – and let’s just keep it simple – is we didn’t make a shot,” Miller said. “We really struggled to shoot the ball.”

The Hawks built their largest lead with 13:53 to play, thanks to what was a major sore spot on the afternoon for the Rams. URI couldn’t inbound the ball after an Ajogbor free throw, and Jonah Hinton was called for an offensive foul. Simpson drove for a two-hand slam on the ensuing possession, part of a 13-0 shutout for the visitors on points off turnovers.

“We have no room for error,” Miller said. “That plays a big role.”

The Rams (15-14, 6-10 Atlantic 10) enjoyed their best stretch of the day after falling into that 44-31 hole. Alex Crawford offered some life with a couple of 3-pointers, and Jahmere Tripp buried another from the left corner to make it a 54-51 game with 5:10 left. Crawford’s hard drive down the right kept it a three-point game, and Cochran’s successful trip to the line put URI in position to steal it late.

“I feel like we had open shots,” Crawford said. “We had a lot of good looks – shots we usually make.”

Saint Joseph’s (19-10, 11-5) won its fourth straight and continued an impressive rally from an 0-2 start in league play. The Hawks are on course for a double bye in the upcoming conference tournament, while the Rams look increasingly likely to play on the opening day in Pittsburgh. A home date with Duquesne and a road trip to Fordham wrap the regular season this week, and URI hopes guard RJ Johnson (concussion protocol) will be able to return at some point.

“It did hurt a little bit,” Crawford said. “You face adversity, you’ve got to find a way to make up for missed players.”

SAINT JOSEPH’S (61): Dasear Haskins 5-11 4-5 14, Justice Ajogbor 4-5 1-3 9, Derek Simpson 4-10 4-4 13, Jaiden Glover-Toscano 3-14 0-1 7, Austin Williford 2-9 0-0 5, Khaafiq Myers 4-7 0-0 9, Jaden Smith 1-2 1-3 3, Anthony Finkley 0-2 1-2 1. Totals 23-60 11-18 61.

RHODE ISLAND (55): Tyler Cochran 2-13 8-8 13, Keeyan Itejere 4-5 2-2 10, Jahmere Tripp 4-12 2-3 11, Jonah Hinton 2-11 0-0 5, Myles Corey 1-8 1-4 4, Alex Crawford 4-6 2-4 12, Jalen Harper 0-6 0-0 0, Drissa Traore 0-1 0-0 0. Totals 17-62 15-21 55.

Halftime – SJ, 30-27. 3-point FG – SJ 4-28 (Haskins 0-3, Simpson 1-5, Glover-Toscano 1-8, Williford 1-8, Myers 1-2, Finkley 0-2), RI 6-33 (Cochran 1-9, Tripp 1-4, Hinton 1-7, Corey 1-4, Crawford 2-3, Harper 0-5, Traore 0-1). Rebounds – SJ 45 (Myers 8), RI 46 (Cochran 15). Assists – SJ 14 (Simpson 5), RI 12 (Corey 4). Turnovers – SJ 13 (Simpson 3, Myers 3), RI 13 (Corey 5). Blocked shots – SJ 7 (Ajogbor 3), RI 4 (Itejere 2, Tripp 2). Steals – SJ 8 (Simpson 3), RI 4 (Tripp 2). Attendance – 6,391.

bkoch@providencejournal.com

On X: @BillKoch25

Source link

Rhode Island

Rhode Island women’s basketball wins A-10 regular-season championship

Published

1 day ago

March 1, 2026

Press Room

Rhode Island women’s basketball wins A-10 regular-season championship

SOUTH KINGSTOWN – What was a peerless achievement in University of Rhode Island women’s basketball history now has some company just four short years later.

The Rams are Atlantic 10 regular-season champions again after a special Saturday afternoon in Kingston, a coronation more than a contest against visiting George Washington.

The Revolutionaries never had a chance after the hosts got off to a sharp start at the Ryan Center. URI left no doubt in front of its best crowd of the season, and a significant portion of that gathering stuck around long after the final whistle to see the nets cut down again.

It was all Rams in this 72-48 cruise, a result that matched what was a first in 2022-23 and handed URI a No. 1 seed in the upcoming conference tournament. George Mason dropped to the No. 2 spot despite posting the same 16-2 league record as the Rams, and that came thanks to a comprehensive 79-63 defeat in a Valentine’s Day matchup.

“There’s nothing more satisfying as a coach than to have the confetti fall and to cut down nets with this group of young women,” URI coach Tammi Reiss said. “I’ve never been prouder.”

URI scored on each of its first five offensive possessions and authored a masterpiece through the opening three quarters. It was only in the fourth when Reiss emptied her bench that George Washington showed any semblance of being able to keep pace. Palmire Mbu led three in double figures with 23 points, and Sophia Vital played yet another complete all-around game to help the Rams run roughshod.

“We were just extra motivated today,” Mbu said. “We wanted to do great for our crowd.

“Just trying my best. Trying to be aggressive and to give solutions on offense and defense. It felt good.”

URI owned a 21-point lead entering the final 10 minutes, thanks to 18 assists, just two turnovers and 63.4% shooting from the field. The Rams buried the offensive struggles they experienced in road losses to La Salle and Richmond with what had been a typical display of crisp execution. URI closed 26-for-35 from 2-point range, collected 48 points in the paint and racked up another 17 off Revolutionaries turnovers.

“I do believe the last four years we had talented teams – we had talented players,” URI guard Ines Debroise said. “But I think it’s also how we can put all the pieces of the puzzle together. This year that’s what we were going to do from day one.”

Mbu’s bucket off a Vanessa Harris steal gave the Rams a 25-10 lead and forced a George Washington timeout with 6:38 left in the second quarter. It seemed just a matter of time before this one was out of reach, and Brooklyn Gray followed a Debroise 3-pointer with a pair of layups to make it a 32-12 cushion. URI’s lead never dipped under 12 points again, and Mbu’s hook in the lane capped an 8-0 run that took it back to 58-38 with 1:00 left in the third.

Video of URI coach Tammi Reiss speaking postgame on Feb. 28

URI women’s basketball beats George Washington to win the Atlantic 10 regular-season championship

“They were sharing the ball in a championship game,” Reiss said. “It wasn’t 1-on-1. That’s what makes this team special.”

The Rams (25-4, 16-2 Atlantic 10) set a new program best for conference wins in a season and are now one shy from a new overall mark – they collected 26 while making a run to the WNIT Round of 16 in 2022-23. URI shared the league crown with rival Massachusetts that year before suffering a semifinal upset against Saint Louis and missing out on a third meeting with the Minutewomen.

“Their job is to show up and be us,” Reiss said. “Execute our game plan with discipline and ferocity for 40 minutes. Our job is to manage them – their health, their minutes.”

The Revolutionaries (15-16, 7-11 Atlantic 10) dropped to the No. 10 seed in the upcoming conference tournament and will play No. 7 Saint Louis in the second round on Thursday, March 5. The Rams will open Friday’s quarterfinals in an 11 a.m. tip on the USA Network against either No. 8 Loyola Chicago or No. 9 St. Bonaventure. No. 4 Davidson and No. 5 Saint Joseph’s are in URI’s half of the bracket, while the second-seeded Patriots and third-seeded Spiders could be on a semifinal collision course in the other half at Henrico Sports & Events Center.

“It’s going to be tough for everybody – probably three games in three days,” Mbu said. “We’ve got to push to the end and play like we’ve been doing.”

GEORGE WASHINGTON (48): Sara Lewis 2-10 2-2 6, Gabby Reynolds 7-13 2-2 17, Tanah Becker 1-2 1-1 3, Mia James 2-6 0-0 4, Kamari Sims 2-4 0-0 4, Emma Theodorsson 0-6 2-2 2, Jaeda Wilson 1-2 0-0 2, Filipa Calisto 2-2 0-0 4, Colleen Phiri 0-0 0-0 0, Caia Loving 2-2 0-0 4, Payton Dulin 1-1 0-2 2. Totals 20-48 7-9 48.

RHODE ISLAND (72): Palmire Mbu 9-14 3-4 23, Albina Syla 5-6 0-0 10, Brooklyn Gray 5-6 0-0 11, Sophia Vital 3-6 1-2 7, Ines Debroise 4-7 0-0 9, Vanessa Harris 3-7 0-0 7, Aimee Michel 2-2 0-0 4, Valentina Ojeda 0-2 0-0 0, Ta’Viyanna Habib 0-0 0-0 0, Eva Agba 0-1 1-2 1. Totals 31-51 5-8 72.

Halftime – RI, 40-25. 3-point FG – GW 1-8 (Reynolds 1-2, Becker 0-1, James 0-2, Sims 0-1, Theodorsson 0-2), RI 5-16 (Mbu 2-4, Gray 1-1, Vital 0-2, Debroise 1-4, Harris 1-2, Ojeda 0-2, Agba 0-1). Rebounds – GW 23 (Sims 5), RI 26 (Vital 6). Assists – GW 7 (Sims 2, Loving 2), RI 21 (Vital 7). Turnovers – GW 13 (Sims 4), RI 7 (Gray 2, Harris 2). Blocked shots – GW 2 (James 1, Loving 1), RI 3 (Mbu 2). Steals – GW 3 (Lewis 1, James 1, Sims 1), RI 6 (Vital 3). Attendance – 6,580.

bkoch@providencejournal.com

On X: @BillKoch25

Source link