WPRO Newsroom and the Associated Press
PROVIDENCE, R.I. (AP) – Members of Occupy Providence plan to rally at the Statehouse to encourage lawmakers to default on money the state owes for its failed investment in former Red Sox pitcher Curt Schilling's video game company 38 Studios.
The group plans to gather at the Capitol on Monday. Members say they will deliver to Gov. Lincoln Chafee and House Speaker Gordon Fox a petition against paying the debt.
House lawmakers will consider a $2.5 million payment to bond holders when they debate and vote on a state budget proposal Tuesday.
The state must make some $90 million in future payments related to a loan guarantee given to Schilling's bankrupt company. Some lawmakers favor default, but Chafee argues it would hurt the state's financial reputation and significantly increase future borrowing costs.
