Politics
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Bank of America Corp. is nearing a settlement with the U.S. Justice Department after raising its proposed offer to resolve probes into its sale of mortgage-backed bonds in the run-up to the financial crisis, according to people familiar with the talks. more
More than two-thirds of U.S. roadways are in need of repair and the poor condition of the nation’s transportation network results in billions in extra costs, according to a White House report. more
Thirty-three percent of Rhode Island’s rural roads and 25 percent of its rural bridges are in need of repair, ranking Rhode Island among the U.S. states with the highest percentage of deficient rural roadways, according to a report issued Thursday by the Trip National Transportation Research Group. more
Steven T. Hartford, director of policy for Gov. Lincoln D. Chafee’s office and former town manager of Westerly, will replace Richard A. Licht as director of the R.I. Department of Administration, the governor announced Thursday. more
The R.I. Department of Taxation on Friday released a brief summarizing the tax changes outlined in the fiscal year 2015 state budget that Gov. Lincoln D. Chafee signed into law last week. more
Rhode Island will receive $3.85 million under a national program to help states train laid-off workers, U.S. Sens. Jack Reed and Sheldon Whitehouse announced Wednesday. more
Former Mayor Vincent A. “Buddy” Cianci Jr. said Wednesday he will run for the city’s top office again, this time as an independent. more
The General Assembly voted Wednesday evening to raise Rhode Island’s minimum wage to $9 per hour beginning Jan. 1, 2015. more
The R.I. Senate on Monday approved the $8.7 billion state budget for fiscal 2015 by a vote of 32-5, submitting for the governor’s signature a spending plan that cuts the state’s corporate and estate taxes, provides for repayment of the 38 Studios bonds, eliminates the Sakonnet River Bridge tolls and adds $33.4 million in education funding. more
The R.I. House of Representatives early Friday morning passed an $8.7 billion state budget for fiscal 2015 that cuts some taxes, makes a payment on the 38 Studios bonds and bars communities from setting their own minimum wage. more
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