Tony Vazquez, A Democrat, sits on the California State Board of Equalization, where he has represented the 3rd District since 2019. The board oversees the state’s property tax system as well as the alcoholic beverage tax and the tax on insurers.
He is a former teacher who served on the Santa Monica City Council for nearly 10 years, including a one-year stint as mayor in 2016.
Vazquez, 70, said serving as treasurer will be his last step in politics, as he plans to retire soon. “I think the problem we’ve had with previous treasurers is that they used this as a stepping stone – my focus will be on becoming treasurer, not setting the stage for a higher position,” he said.
Vazquez will invest more in California. CalPERS and CalSTRS combined have about $1 trillion in assets, he said.
“We invest less than 2% of (that) in California,” he said. “How can we be the fourth largest economy in the world and not make good investments? My target is to at least double it.”
Vazquez said starting to divest from fossil fuels would be a “good goal.” He will also give priority to partnership building. He said many housing-related nonprofits would eagerly pool their resources with the state to build more homes.
“I’ve also had good conversations with tribes who would love to leverage their housing dollars with our pension fund to build more housing on reservations,” he said.
Eleni Kounalakis speaks at the California Democratic Convention at the Anaheim Convention Center.
(Carlin Stiehl/Los Angeles Times)
eleni kounalakisA Democrat, she is serving her second term as Lieutenant Governor of California.
He formally launched a campaign for governor in 2023, and early polling puts him in the top half of the gubernatorial field. However, she announced in August that she was dropping out of the race and would instead run for Treasurer. Kounalakis has no regrets about his decision.
“I am very happy because it is very closely aligned with my skill set,” he said. “I think it’s very important to have a state treasurer who has that kind of experience to responsibly manage our fiscal future.”
Kounalakis has a master’s degree in business administration and previously served as president of AKT Development, a housing company in California that was founded by her father, Angelo Tsakopoulos, a prominent developer and political donor. In 2010, President Obama appointed him as US Ambassador to Hungary.
“I am using my international experience to serve the state as our representative for international trade and investment, whose economic development is of great importance,” she said.
Asked about divestment from fossil fuels, Kounalakis said his approach would be to lean toward clean investments.
“But it must be balanced with recognizing that the returns on CalPERS and CalSTRS are very important to the hard-earned pensions of the people whose retirements are being managed,” he said.
Kounalakis said her diverse background will be a strong asset.
He said, “My top priorities will be to manage the state’s finances with responsibility and experience, build more housing and the infrastructure to support it, protect our pensions and manage our investment portfolio with transparency and accountability.”
anna caballerois a Democrat, a lawyer and state senator who chairs the Senate Committee on Agriculture. She previously served in the state assembly. She also served on the Salinas City Council for 15 years and was elected the first female mayor in 1998.
Caballero said that growing up in a working-class family of copper miners shaped his political career as he learned the value of money at an early age.
Caballero will work to support disadvantaged communities. Affordable housing will be among his top priorities.
“The ability to take people to a place they can call their own is extremely important,” he said. “It stabilizes neighborhoods and families and it gives people a real commitment to their community.”
She wants to partner with financial institutions to develop a system for unbanked individuals, meaning those who do not use traditional banks or credit unions, to begin earning credit ratings and scores. Monitoring the use of electronic benefit transfer cards, which are used for food stamps or unemployment, could be one way to provide ratings, he said.
Asked about divestment from fossil fuels, Caballero said it would take time to move away from fossil fuel companies.
“We still need fossil fuels and the best estimate I’ve heard is that it will take 20 or 30 years to exhaust all the vehicles we have,” he said. “Instead of driving them out of the state and importing oil from the Middle East or South America – we should be asking our companies in the state to go green.”
jennifer hawksShe is a Republican and a retired businesswoman. She serves as president of Palo Alto Republican Women Federated, an organization that uses educational activities and community engagement to encourage women to participate in government.
“She is not a career politician,” her campaign website states. “She is someone who has spent her life managing budgets, solving problems, and making sure the numbers add up.”
Her website states that she will prioritize oversight and transparency.
Their website says, “Public finances aren’t just about numbers – it’s about the schools our children attend, the roads we drive on, and the retirement security of our workers.” “It deserves someone who leads with caution.”
David Serpa, is a Republican, a real estate agent, and a Marine Corps veteran. According to his professional website, he has also written plays and books discussing autism, spirituality, and business.
His campaign website states that he will work to end inefficient programs and opaque financing.
Their website states, “Treasurers emerged to protect public funds from rulers, legislatures and creditors, not to enable uncontrolled expansion.”
Sarpa has had a fight with California Republican Party on social media. He described himself on the X as a nationalist running as a Republican.
