Statement from Treasurer Curtis Loftis on Senate Finance Constitutional Subcommittee Report

Let me remind you that Senator Larry Grooms and his subcommittee members act with complete Senatorial immunity. They can say and do anything they like, and there are no consequences. There are no penalties for Senators making false statements, and no court action available to me. 


It is unfortunate to see a handful of State Senators more interested in character assassination than solving problems that affect our State. Fortunately, most state leaders realize that problems are usually best solved at a conference table, not by grandstanding in front of TV cameras.   


It should be obvious to everyone that the subcommittee would like to overturn the election of an executive branch official and install a puppet to control the funds of the state. Last night, the Treasurer’s Office invested $50.8 billion dollars, and wealthy special interest wants the power, income and other “dividends” that comes with control of the people’s money. The taxpayers of SC should be very, very concerned. 


I want to thank the Governor for his leadership in convening the four state agencies that were involved in the 2016 SCEIS computer conversion and offering support for us to work together to resolve this matter.  I’d also like to thank the Speaker of the House for his confidence in our efforts to solve any problems that affect South Carolinians. His business-first approach has been most helpful and will certainly yield results.  


Furthermore, I support the provisos that would provide the necessary resources for all agencies involved to properly classify these conversion entries and put an end to this made-for-TV spectacle.  


I’ll not read the Senate’s report, nor will I watch the Senate proceedings, as the subcommittee’s mission is not one based on honor and integrity.  However, a staff member will watch and read it in search of any useful information and to correct its errors and resulting conclusions.  


I want to thank the people who elected and re-elected me to serve four terms as their State Treasurer. Please know that it has been a blessing to serve you in this capacity, and I remain committed to standing up for the taxpayers and fighting for accountability, transparency and reducing fraud and waste in state government.  


I also want to thank the dedicated staff of the State Treasurer’s Office for their continued professionalism during this unbelievable ordeal. Their dedication to the Office and to the citizens of SC is unparalleled.