Frank Caprio announces plans for General Treasurer's Office - ABC6 - Providence, RI and New Bedford, MA News, Weather

Frank Caprio announces plans for General Treasurer's Office

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Dee DeQuattro

Former Rhode Island General Treasurer Frank Caprio says he plans to return to the post.

In a morning announcement at Caserta's Pizza, Caprio said he will run as a Democrat in his bid to reclaim the office.

Caprio laid out his plan to "redefine" the office of General Treasurer by taking a more active role in creating jobs.

One of the ways he plans to create jobs is through his small business lending program which he says, "will provide Rhode Island small business with necessary capital, loans and business advice." He said he will lay out a comprehensive plan in the upcoming months but he plans to "leverage the pension fund to do more for small business."

In 2011, Caprio chose not to run for the treasurer's office again and instead ran for Governor with the Democratic Party endorsement.

Current Treasurer Gina Raimondo was elected to fill his spot. Raimondo is expected to make a bid for governor in 2014.

Democrat Ernie Almonte, the former state auditor general, has also announced his candidacy for the treasurer's office. Almonte said he believes he has a better plan than Caprio and as General Treasurer he would focus on working with the 39 cities and towns to promote business and economic growth. Almonte said that Rhode Islanders whom he has spoke with do not want a career politician and he can promise "no gimmicks."

"With a proven track record of financial expertise in the public and private sectors, and a history of holding our elected leaders accountable, I will provide Rhode Island with the experience and leadership we need to move beyond politics-as-usual, and build an infrastructure of opportunity to create an environment for growth and optimism," said Almonte.

In 2010 Caprio was once the gubernatorial front runner but dropped in the polls after he made a comment telling President Barack Obama that he could take his endorsement and "shove it." Caprio later apologized for the remark. Obama chose not to endorse a candidate in the Rhode Island Governor's race because of his split allegiances to the Democratic Party and his former colleague in the senate, Lincoln Chafee who at the time was a Democrat.

Caprio served as the General Treasurer from 2007-2011.

(C) WLNE-TV 2013

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