Martín Quezada and Kimberly Yee answered questions in a televised debate Oct. 3.
Ryan Randazzo, Arizona Republic
The Arizona Republic posed questions to the candidates running for state treasurer to give voters a better understanding of how they would run the state office.
Incumbent and Republican Kimberly Yee is facing a challenge from Democrat Martín Quezada in the November election.
The treasurer oversees banking and investment for the state, assists local governments with their investments and manages Arizona’s Permanent Land Endowment. The office also runs the state’s 529 college savings plan.
Yee was the first Asian American candidate to win statewide office in Arizona when she was elected in 2018. She was previously a state senator and has worked for the state Legislature and the Treasurer’s Office.
Quezada is a Phoenix lawyer who served in the Arizona Legislature for the past decade and is running for statewide office for the first time. Prior to that he worked at the Legislature but left to attend Arizona State University for law school.
They had a televised debate Oct. 3.
Below are the questions and the responses from each candidate.
Addressing inflation
Question: Arizona is a national hotspot for inflation. Can you explain how inflation is affecting the Treasurer’s Office, if at all, and how you would address this as state Treasurer?
Yee: As interest rates rise, the Treasury earns more money and we currently project $180 million in earnings for the general fund this fiscal year that can be used by the Legislature to offset the costs of state agencies because of Biden’s inflationary environment.
I have been a longtime advocate of financial education. As treasurer, I have been committed to helping families with helpful financial tips as they navigate this inflationary environment and share with them the simple message of “never spend more than you make.” I have published free financial education resources on the Treasurer’s Office website to assist students, families, veterans and senior citizens.
Quezada: Rising costs are affecting all of us and across all sectors. As state treasurer, my focus will be to create the strongest investment portfolio possible to guard against the whims of the market. While my opponent has self-imposed, politically motivated restrictions on what she is willing to invest Arizonans’ money in, I pledge to evaluate investments according to facts and sound investment strategies. By focusing on sound investments instead of politics we can make sure our state funds are getting a high enough rate of return to offset profits eroded away by inflation.
