State treasurer’s role in a $1.8 billion accounting error likely won’t cost him his job

Republican South Carolina Treasurer Curtis Loftis appears likely to stay in office for at least the rest of the year.

The Republican-dominated House has decided not to take up a resolution passed by the Senate to kick Loftis out of office because of his role in a phantom $1.8 billion account that showed up on the state’s books but had barely any real money in it and the failure to report it to lawmakers for years.

The Senate sent the resolution to remove Loftis to the House on April 21.