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Executive Summary 

Harry Arora is the endorsed Republican candidate for Connecticut State Treasurer. He is serving his second term as State Representative from the 151st district and is the Ranking Member of the Labor Committee in the state legislature. Harry has over 25 years of experience in finance and investing with extensive knowledge in portfolio management and investment analysis. Harry is running on a platform to fix Connecticut's finances which have suffered from an underperforming pension and increased debt.  

 

Harry founded and led a successful investment management firm in Greenwich before pivoting to public service 5 years ago.  Harry has an MPA from Harvard and an MBA from University of Texas, Austin.

Priorities

Harry is running for Connecticut State Treasurer to bring leadership and experience to Hartford. He has over 25 years of experience in investment management and running a successful business in Greenwich. Five years ago, Harry pivoted to public service to give back to his community.  As state rep for Connecticut's 151st district, he has fought tirelessly for his constituents. Harry and his wife Nisha are raising their three kids in Greenwich. Harry came to the United States from India as a graduate student 27 years ago and naturalized as an American citizen in 2004. Harry truly represents the American dream.

As the next State Treasurer, Harry aims to define a new financial strategy to fix Connecticut's finances. Connecticut has excessive outstanding debt with a pension fund that is grossly underfunded. Debt payments and pension catchup payments make up a third of the budget. Past and current Treasurers, including Harry's opponent, have used the Treasurer's office to advance their political and social agenda with a massive cost to CT's citizens. Harry's vision is to focus the Treasurer's office on a robust financial strategy to improve investment performance and reduce total debt.

 

Harry's top priorities include:​

  1. Improve and protect pension returns

    • Our  pension funds have consistently underperformed a passive index of US stocks and bonds. We would have returned an extra $8 billion over the last four years if we had followed an indexed strategy. In addition, we paid nearly $800 million in investment fees in the previous five years.

    • ​As your State Treasurer, I will stop this underperformance through improved asset allocation. I will ensure our pensions meet and exceed market returns and that we do not pay excessive investment fees. I have studied our portfolio in detail and have a plan to put our pension fund on a firm footing.

  2. Reduce overall debt and repair balance sheet

    • From 2016 to 2021, our total state debt increased from $65 billion to $100 billion. This level of debt is excessive and unsustainable. My priority will be to reduce this debt and repair our balance sheet. I will increase due diligence on our debt issuances and bonding program. I will also work to extend our maturities at low-interest rates when market opportunity arises. Reducing our debt service expense will allow the state to reduce taxes and/or invest more in selected programs.

  3. Work to reduce inflationary pressures​​

    • Print and spend policies cause prices to rise. Every day, Connecticut residents are struggling with their energy bills, grocery bills, and everything else. Our state government can reduce inflationary pressures by stopping excessive spending. I will work diligently to ensure we focus on policies that mitigate inflationary pressures.