Lt. Gov. Eleni Kounalakis, a prominent candidate in the California governor's race, announced her withdrawal to run for state treasurer. This follows Kamala Harris's decision not to run. Kounalakis highlighted her intent to impact California's financial future as treasurer, emphasizing the importance of fiscal responsibility, economic opportunity, and strategic investment in critical areas such as affordable housing and education. As the former U.S. Ambassador to Hungary and a significant Democratic donor, she brings extensive experience to the role, managing state assets and overseeing key financial systems.
Kounalakis said in a statement that as treasurer, she can "make the greatest impact by focusing on California's financial future."
The state treasurer manages California's assets and serves on powerful boards that oversee the state employee pension systems and award financing for affordable housing and infrastructure projects.
Kounalakis said that the role would allow her to focus on "fiscal responsibility, economic opportunity and strategic investment in our state's priorities - from affordable housing and clean energy to infrastructure and education."
This work is critical and I am prepared for the challenge," Kounalakis said.
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