Stamford Sen. Frantz Blasts Gov. Malloy's Surplus Plan

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Senator L. Scott Frantz was critical of Governor Malloy's plans to use the current surplus. Photo Credit: Contributed

GREENWICH, Conn. -- State Sen. L. Scott Frantz (R-36th District) joined other state legislators at the Capitol for the opening of the 2014 legislative session last week, marking his sixth year serving Greenwich, New Canaan and Stamford.

After attending the joint session and hearing the State of the State address from Gov. Dannel Malloy, Frantz drew attention and scrutiny to the governor’s statements referring to a state surplus.

"Where did that surplus come from? Literally just a few months ago things were so dire in the state of Connecticut that we were talking about emergency rescue plans to prevent another Detroit from happening in Connecticut. So, how is it that we can have a surplus of roughly half a billion dollars," Frantz said in a statement. 

“The answer is simple. That money was borrowed. It was not legitimate revenues of the state of Connecticut. Roughly $725 million was borrowed from the market, from other dedicated funds or came from accounting changes, thereby creating the surplus of about $525 million."

Frantz serves as deputy minority leader of the Senate Republican Caucus and ranking member of the General Assembly’s Finance, Revenue and Bonding Committee and Commerce Committee. Frantz also serves on the Legislative Management and Transportation committees.

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