New Haven Register (New Haven, CT)
Arora makes run for state treasurer
GREENWICH — State Rep. Harry Arora has made it official: He is seeking higher office.
The Greenwich resident, who represents the 151st District in the state House, said Wednesday he is seeking the Republican nomination for state treasurer. Arora, who was first elected to the legislature in January 2020, had formed an exploratory committee in
February to weigh a possible run.
“This is a pivotal moment in our state,” Arora said in a statement. “I have spoken with residents throughout Connecticut, and it’s time for a change. Inflation is up and our retirees’ pensions have not kept pace. Connecticut continues to be one of the worst-funded pension systems in the country. The due diligence of our bond issuances, especially for our capital programs, has been lacking. Our citizens are dismayed that the federal government is investigating mismanagement of school construction programs across the state.”
Arora added, “If elected, I will ensure that our debt is used prudently, and a high level of due diligence is performed before one single penny is spent from the treasury. I will focus on asset allocation and returns on our pension investments. I will put an end to excessive fees being paid by the state for sub-par returns.”
State Treasurer Shawn Wooden has not announced any plans but a reelection campaign is expected. A Democrat, Wooden was first elected treasurer in 2018. He was previously a member of the Hartford
City Council and worked as a private attorney.
The race would be an uphill climb for Arora. The state’s constitutional offices have largely been held by Democrats in recent years, and Wooden won easily in 2018, defeating Republican Thad Gray by more than 11 percentage points.
But Arora told Hearst Connecticut Media Group that he is prepared.
“I have support across the state, and the experience for a job that needs to be done better,” he said. “It might be tough, but I believe Connecticut is ready for change. I am up for the challenge.”
Arora has his own Greenwich-based hedge fund, AlphaStrat LLC. It “focuses on finding opportunities in energy transition space and investing in them in liquid markets,” he said.
So far, Arora is the only Republican who has expressed interest in running for treasurer, said Ben Proto, chair of the state Republican Party.