In one of the big moments of a more-dramatic-than-expected election season, the Democratic nominee for president and current vice president, Kamala Harris, selected Tim Walz, governor of Minnesota, to be her running mate. While Walz seems to have taken a rocket ride to greater prominence through his series of viral interview moments, he does have a lengthy career in politics, including nearly two terms in the governor’s mansion.
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Like any governor, Walz comes with a record of financial policies and stewardship for his state that could have major implications for all 50 states should he win the election. For some financial professionals, these implications are overwhelmingly positive. GOBankingRates talked to one of those professionals, Dennis Shirshikov, head of growth at Summer, to learn more about why Walz might be a great pick financially.
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Focus on Workforce Development
Shirshikov has high praise for what he views as Walz’s emphasis on education and workforce development. Specifically, he singled out policies that have expanded access to education and job training, which can help workers retain the skills and training to stay competitive in a changing economy.
“By investing in human capital, Walz has helped ensure that Minnesota’s workforce remains competitive, which not only attracts businesses but also provides individuals with the tools they need to secure well-paying jobs,” he said. “On a national level, these policies could help address the growing skills gap and support long-term economic stability.”
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Expanding Access to Affordable Healthcare
One of Walz’s most significant accomplishments for the people of Minnesota was his approach to healthcare reform, specifically making healthcare more affordable and accessible, according to Shirshikov.
“By reducing healthcare costs, more of Americans’ income can be directed towards savings, investment, and consumption, all of which are crucial for economic growth,” he said.
Shirshikov added that Walz’s policies show keen awareness that healthcare goes beyond social issues to the economic forefront for most families. “His leadership in this area could translate into more comprehensive and financially sustainable healthcare solutions at the national level,” he said.
Emphasizing Infrastructure
Another feather in Walz’s cap financially is his commitment to infrastructure development.
“Infrastructure investment is a proven driver of economic growth, and his administration’s efforts to improve Minnesota’s transportation and digital infrastructure have laid the groundwork for sustained economic expansion,” said Shirshikov.
He sees potential for these priorities to have a powerful impact nation-wide, creating a significant number of jobs while making the American economy more efficient and competitive globally.
Editor’s note on election coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic here: I’m an Economist: Here’s How Trump’s VP Pick, JD Vance, Could Impact Your Wallet.
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This article originally appeared on GOBankingRates.com: I’m a Financial Expert: 3 Reasons I Think Tim Walz Is a Strong Financial VP Pick