Candidate for NC treasurer, Democrat Wesley Harris, answers our questions

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Name: Wesley Harris

Political party: Democrat

Age as of March 5, 2024: 37

Campaign website: www.harrisfornc.com

Current occupation: Economic consultant and state legislator

Professional experience: Former economic consultant with Big 4 accounting firm specializing in international tax; Adjunct Professor of Economics at UNC Charlotte; Lecturer at University of South Carolina

Education: BA in Economics with honors and distinction, UNC Chapel Hill; MA in Economics, Clemson University; PhD in Economics - Clemson University

What offices have you run for or held before? Have you had any other notable government or civic involvement? I am currently serving my third term in the North Carolina House of Representatives representing District 105 in southern Mecklenburg County. I was first elected in 2018 after flipping a long-held Republican seat and then reelected in 2020 and 2022.

What do you think is the biggest issue in North Carolina that you would be able to shape if elected?

A lack of investment in our people is driving a decrease in economic opportunity across NC. The biggest issues I intend to shape as state treasurer are to improve the performance of our pension plan, ensure the State Health Plan can provide quality health care that doesn’t increase costs for state employees, and work with the legislature and local governments to ensure needed investments are made in communities across the state while making sure our local governments remain financially solvent.

What do you think is or is not working well under the current office holder? If not, how would you change it?

The pension plan is underperforming, the State Health Plan is seeing benefits decrease, and the Local Government Commission has become too politicized. I plan to invest more of our pension plan to boost returns instead of holding cash, negotiate with health care providers for lower costs by promoting more preventative care, and focus on the financial aspects of a local government’s investments instead of my political leanings.

What should be done to address staff vacancies in your agency and in state government as a whole?

To solve the staffing crisis, we need to raise salaries, enhance benefits and end partisan games. State employees deserve better pay, quality health care, and comfortable retirements — which we can offer them without raising taxes if we adjust spending priorities. We must also reduce partisanship in the treasurer’s office. The focus should be on great financial returns, not political agendas. Improving office culture and implementing these measures will address the wider staffing crisis.

Is there an issue on which you disagree with your party? What is your position on that issue?

Democrats have abandoned rural areas as “Republican” and not worth engagement, while I believe our lack of engagement is why these areas have swung toward the GOP. These areas need well-funded schools, health care and infrastructure investments. Addressing economic anxiety in these regions is essential to combat division, anger and racism. Unlike past statewide Democratic campaigns, I will be present in these areas and show commitment to all people regardless of background or circumstances.

Will you keep premiums on the State Health Plan low or frozen? How will you do so?

To prevent premium increases, we must reduce the plan’s risk by enhancing wellness and preventative care, and increasing benefits to attract younger state employees who tend to be healthier and therefore have lower costs. I will negotiate directly with companies and benefits managers to ensure fair pricing and to cover preventative care drugs (like recent weight-loss medications) that can keep employees healthier in the long-term, and will work with the N.C. General Assembly to fund programs that reduce costs.

How would you manage investments of the state pension plan differently than your predecessor?

The main difference would be reducing cash holdings in our $100-billion-plus state pension plan, the largest cash-heavy portfolio in the United States. Its underperformance (5.3% return vs. S&P’s 11.1%, Dow Jones’ 7.3%) is due mainly to excessive cash holdings. Investing those funds to get us to market-average returns, depoliticizing our investing, and focusing on investments that align with North Carolina’s values and future, will make the plan considerably stronger.