Government
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Federal Reserve officials predicted their target interest rate would be 1 percent at the end of 2015 and 2.25 percent a year later, higher than previously forecast, as they upgraded projections for gains in the labor market. more
Rhode Island’s state debt per capita of $8,769 for fiscal year 2012 ranks third-highest in the United States, according to the Tax Foundation’s 2014 “Facts and Figures” report released Wednesday. The annual report compiles tax and collections data for each of the 50 U.S. states and the District of Columbia, and ranks each state on 39 different measures of tax and fiscal policy. more
At an award ceremony held Tuesday, North Smithfield Town Administrator Paulette Hamilton accepted $7,500 and three commemorative street signs on behalf of the town as Rhode Island’s first municipality to complete the Rhode Island Energy Challenge, a community campaign jointly managed by National Grid and the nonprofit SmartPower to promote household energy efficiency. more
The R.I. Department of Revenue has collected $2.06 billion in general revenue during the fiscal year through February, including $172 million in last month alone, the agency reported Tuesday. The monthly report was released the same day as a Tax Foundation study ranking U.S. states according to their state and local sales tax rates was released. more
The biggest U.S. banks are about to learn whether they can pay out more than $75 billion in excess capital to investors as the Federal Reserve completes stress tests of their ability to survive new economic calamities. more
Five Rhode Island public schools will take part in a regional conference in Norwood, Mass., focused on strategies to improve teaching and learning. more
The results of a two-year study conducted by the R.I. Division of Taxation show that the state could have collected between $21.5 million and $44.4 million more in corporate taxes in 2012 under a combined reporting tax structure. more
The city this spring will once again apply for a federal transportation grant to fund a new streetcar system between Upper South Providence and College Hill, Providence officials said Friday. more
Bank of America Corp., Citigroup Inc. and Credit Suisse Group AG were among 16 of the world’s biggest banks sued by the U.S. Federal Deposit Insurance Corp. for allegedly manipulating the London interbank offered rate from 2007 to 2011. more
U.S. senators reached an agreement that would restore benefits for the long-term unemployed that expired late last year and that the Obama administration has sought to revive. more
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