Debate: Nevada Treasurer Candidates
The two candidates to replace outgoing Nevada Treasurer Kate Marshall will debate Friday over who is the best candidate to safeguard the Silver State’s tax dollars.
Both Democrat Kim Wallin and Republican Dan Schwartz believe the two most important roles as treasurer are investing the general fund portfolio and overseeing the Millennium Scholarship.
“Finding a sustainable funding source for the Millennium Scholarship,” Wallin told KNPR. “The funding for the scholarship could run out as soon as 2017 or as late as 2022. We have found that those who have the scholarship graduate at a much higher rate than those who don't. If we are going to attract new businesses to Nevada without having to pay for them to come here we need to have an educated workforce."
Schwartz also expressed his concern about the scholarship running out of money. “With the additional return on the general fund and with the recovered funds from the Silver State Opportunity Fund, I want to restore that funding,” Schwartz said.
Where the two candidates differ is over the Silver State Opportunity Fund, a $50 million private equity fund, which invests money from the Nevada Permanent School Fund, which consists of nontax dollars. Schwartz has criticized Marshall for setting up the legislatively approved, long-term investment fund with the returns going to education in Nevada.
Schwartz told KNPR that the SSOF was not a long term investment fund. He described it as an “attempt by Treasurer Marshall to boost the returns of the state’s general fund, whose investment returns are the worst in the West.”
Wallin said at this time and based on the information she’s seen, she supports the SSOP.
“We have only been investing for two years and if anyone knows anything about private equity, it is a long term investment and you will not see any results until at least seven to 10 years,” Wallin said.
KNPR invited Kress Crave, a candidate from the Independent American party, to participate in the debate. Crave declined the invitation.
Kim Wallin, Democrat for Nevada State Treasurer
Dan Schwartz, Republican Candidate for Nevada State Treasurer
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