Photo | Steve Klamkin

GOP Congressional hopeful wants checks from CAPCO execs returned

Posted: 7/27/2012 11:29:03 AM
Updated: 7/27/2012 11:39:40 AM

A number of heavy hitting Rhode Island Democrats and a few big name Republicans have received money from the owners of CAPCO Steel in Providence and Republican candidate for Congress in the Second Congressional District says those checks should be returned.

"Whether it is the lack of government oversight, or the appearance of political influence pedaling, Rhode Island taxpayers are footing the bill and hundreds more of state workers are out of work," Riley said. "While everyone knew the economy was tanking, the company made numerous political donations to both Democrats and Republicans to safeguard the $5 million it received from Rhode Island as hundreds of workers lost their jobs."

CAPCO recently made the news after it came to light that the company may not be able to pay back a $5 million state backed loan from the Rhode Island Economic Development Corporation. The company still owes $4.6 million of that loan. The loan was intended to help the company grow and add jobs and was supported by high ranking officials including Governor Carcieri, House Speaker Gordon Fox, Senate President Teresa Paiva Weed, former mayor now Congressman Cicilline and former Treasurer Frank Caprio.

In the past few years of the economic recession, CAPCO has also had a substantial number of layoffs. 

Riley specifically targets opponent Democratic Incumbent Jim Langevin who he says received $7,100 from company executives.

According to federal and state campaign finance reports, Congressman Cicilline also received several thousands of dollars from CAPCO executives as Mayor of Providence and Congressman. Also receiving cash from company executives are Mayor Angel Taveras, Joseph Paolino, Lt. Governor Elizabeth Roberts, Former Governor Don Carcieri, Steve Constantino, Senator Sheldon Whitehouse, Massachusetts Attorney General Martha Coakley and Presidential Candidate Mitt Romney.

Executives also donated $15,000 to the RI Victory PAC and the Democratic Congressional Campaign Committee.

"It is only fair that the donations that were given by CAPCO Steele executives to both Democrats and Republicans be returned," Riley said. "The public can decide whether any undue political pressure was brought to bear on this economic development deal."

Dee DeQuattro | WPRO News