INVESTING IN CALIFORNIA’S FUTURE
The State Treasurer plays a key role in California’s future by overseeing investments in infrastructure and public works projects as well as serving on two of the nation’s largest pension funds. By prioritizing investments in California’s future, the State Treasurer can ensure California has high-paying jobs, secure retirements, and long-term financial security.
Andrew Do’s Position: State investments should help rebuild California, strengthen our economy and support working Californians.
- California First Investment Policy: Prioritize Investments in CA Companies That Hire California Workers
The State Treasurer serves as a member of the Public Employees' Retirement System (CalPERS) and State Teachers' Retirement System (CalSTRS). Andrew Do will support investments in California businesses that create high-paying jobs and provide their California workers with secure retirements and quality health care.
- Renewable Energy Investments: More Wind and Wave Power
Andrew Do will use the State Treasurer’s financing powers to help California meet its renewable energy goals and end our dependence on foreign oil. He supports expanding investments in wind power and wave energy projects off the California coast.
- Rebuild Local Communities: Low-Cost, Tax-Exempt Financing
Andrew Do will use the State Treasurer’s office to rebuild communities. He’ll promote low-cost, tax-exempt financing for underserved communities that will spur investments in new infrastructure projects, state of the art school facilities, additional parks, and community green spaces.
MORE AFFORDABLE HOUSING FOR WORKING FAMILIES
California’s high cost of housing is unacceptable. Working families spend more than a third of their salary on rent. California’s housing costs are more than 2.5 times the national median – with 70 percent of the most expensive zip codes in the country. As Chair of the Tax Credit Allocation Committee, the State Treasurer awards hundreds of millions of dollars in tax credits for affordable housing.
Andrew Do’s Position: Working families should be able to afford an energy-efficient home in a safe neighborhood.
- 100% Investment in Affordable Housing
The State Treasurer serves as Chair of the California Debt Limit Allocation Committee, which is responsible for investing billions of dollars in private projects for the public interest. As State Treasurer, Andrew Do will dedicate 100% of these funds towards affordable housing projects.
- Public-Private Partnerships to Build New Housing Units
In Southern California, Andrew Do worked with non-profit organizations, homeless advocates, and other community leaders to create a local non-profit housing trust. This joint powers authority is building more than 2,700 affordable housing units to help more Californians find a safe and affordable place to live. As a board member on the California Housing Finance Agency, Andrew Do will finance affordable housing projects that build more homes for working Californians.
PUBLIC INTEREST OVER PRIVATE EQUITY PROFITS
The State Treasurer is responsible for billions of dollars in investment decisions. All of these investments must work to benefit the public’s interest – not private equity firms, hedge funds and billion-dollar corporations.
Andrew Do’s Position: All investment decisions should put taxpayers first.
- Implement Ethics Firewall on Day 1
Andrew Do will require all investment decisions be based on an open and transparent process. On Day 1, he’ll implement an ethics firewall between special interests and the State Treasurer’s office.
- No Special Interest Junkets
As State Treasurer, Andrew Do will refuse to attend any junkets, trips or conferences paid for by special interest groups.
- Prohibition on “Private Strategy Sessions” for Billionaire Corporations, Wall Street Banks & Private Equity Firms
Andrew Do will prohibit special interest groups from receiving advance access or “private strategy sessions” on public bidding, public investments and all other Treasurer investment actions.