Endorsed · TREASURER

ELENI KOUNALAKIS

Candidate · DEMOCRATIC

Why Thrive LA endorses ELENI

Eleni Kounalakis has served as California's 50th Lieutenant Governor since 2019. She was previously U.S. Ambassador to Hungary from 2010 to 2013. Before public service, she spent nearly two decades as president of AKT Development Corporation, a Sacramento real estate firm, where she led the development of master-planned housing communities. She holds a BA from Dartmouth College and an MBA from UC Berkeley's Haas School of Business. The State Treasurer is California's banker. The office manages the state's cash, sells its bonds, and directs public financing toward housing and infrastructure. Every point of interest the state pays on its debt is money taken from taxpayers and kept out of the private economy. The job calls for someone who understands how projects get financed and built, and who will watch where the money goes. Kounalakis brings rare private-sector experience to the role. She has spent years on the side of the table that pulls permits, lines up financing, and delivers homes. California's housing shortage is driven by cost and red tape, and a Treasurer who knows that firsthand will make better decisions about which projects deserve the state's backing. Her fiscal agenda focuses on stability. She supports Proposition 2, which would raise rainy-day fund contributions from 10% to 20% of tax revenue. Saving more in boom years protects Californians from emergency tax hikes and spending crises when revenue falls. She has committed to getting "under the hood" of state finances to improve transparency and efficiency, to personally oversee the projects that receive state financing, and to work toward a stronger state bond rating that cuts debt service costs for taxpayers. She carries endorsements from California Professional Firefighters, Cal Fire Local 2881, and the California Association of Highway Patrolmen PAC. She is also backed by California YIMBY, the California Council for Affordable Housing, and current State Treasurer Fiona Ma. Eleni Kounalakis is the experienced, disciplined Treasurer California needs.

Key positions

  • Builder's Real-World Experience: Kounalakis spent nearly two decades leading AKT Development Corporation and building master-planned housing communities. She knows firsthand how permitting delays and financing costs block new homes.
  • Bigger Rainy-Day Reserves: She supports Proposition 2, which would raise rainy-day fund contributions from 10% to 20% of tax revenue. Larger reserves protect taxpayers from emergency tax increases during downturns.
  • Lower Borrowing Costs: She has pledged to improve California's bond rating and get "under the hood" of state finances. A better rating means less taxpayer money spent on interest.
  • First Responder Support: Endorsed by California Professional Firefighters, Cal Fire Local 2881, and the California Association of Highway Patrolmen PAC.
  • Watchpoint: Spending Discipline: Her plan to use public finance for housing must deliver results, not new spending without offsetting cuts. We expect her to treat every financed dollar as taxpayer money and to oppose new taxes.

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