Business and Civic Leaders Support Medicare Article in State Budget

Industry leaders say measure needed to tackle Providence's $110 million structural deficit.

Business and civic leaders from across Providence have joined together in supporting the Medicare language contained in Article 12 of the proposed state budget, which would ensure that Medicare-eligible retirees who have reached 65 years of age apply for Medicare.

In a petition signed by 70 top executives and administrators of corporations, academic and nonprofit institutions and small businesses in Rhode Island, The Providence Foundation urged elected officials at the State House to support a measure that cities and towns enroll eligible retirees in Medicare. This measure, supported strongly by Providence Mayor Angel Taveras and the Providence City Council, could save the Capital City almost $12 million a year.

"As we testified to the Finance Committee, this legislation is essential to the fiscal stability and economic growth of Providence," said Daniel Baudouin, executive director of the Providence Foundation. "The city has identified a $110 million deficit for the fiscal year that begins on July 1. In order to reduce this structural deficit and to maintain a competitive tax environment for investment, the undersigned support the bill and encourage its passage."

Leaders from Verizon, Bank Rhode Island, Washington Trust Co., Brown University, Edwards, Angell, Palmer & Dodge LLP, Citizens Bank, Cornish Associates, Hayes & Sherry, CB Richard Ellis New England, the Providence Revolving Fund, Partridge Snow & Hahn, Stanley Weiss Associates, KPMG and Belvoir Properties were among the 70 people who signed the petition to support the passage of Article 12, Section 2.

The Providence Foundation is a nonprofit, private-sector organization supported by more than 130 of the leading companies and institutions in Rhode Island. The Foundation's core purpose is to create an environment that is conducive to growth and sustained investment making Providence, particularly downtown, the premier mid-sized city in the country.