Tom Cross: Candidate Profile

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Note: Answers provided have not been edited for grammar, misspellings or typos. In some instances, candidate claims that could not be immediately verified have been omitted. Jump to:BioQA Bio City: PlainfieldWebsite: www.jointomcross.comOffice sought: Treasurer Age: 55Family: Wife: Genie, Son: Hudson, Daughter: ReynoldsOccupation: Attorney, State RepresentativeEducation: Illinois Wesleyan UniversityCumberland School of LawCivic involvement: Board of directors of the Illinois Chapter of the Juvenile Diabetes Research Foundation.Elected offices held: State RepresentativeRepublican Leader of the Illinois House of RepresentativesHave you ever been arrested for or convicted of a crime? If yes, please explain: NoQuestions Answers Why are you running for this office? Is there a particular issue that motivates you, and if so, what is that?As treasurer, I will use the full power of the office to require the state to approve a balanced budget--including legal action to enforce the constitution's requirement of a balanced budget. To protect the college savings of Illinois families, I will institute quarterly audits of the Bright Start College Savings program to ensure funds are being invested wisely and safely. And continuing my commitment to reform, I will establish a Government Integrity Unit to ensure transparency and crack down on fraud and corruption.What differentiates you most from your opponents in the race?My Democratic opponent has consistently supported unbalanced budgets, tax increases and increased government spending. As a fiscal conservative, I have fought for balanced budgets, opposed the Quinn tax increase and opposed runaway government spending.How would you change the state's investment strategy?The Treasurer's Office has an objective of maximizing return on state assets while also limiting exposure and risk. Also, the office has to take into account the cash flow and financial obligations faced by the state and its agencies. As Treasurer, I would look to increasing the involvement of the Investment Policy Committee. This committee will be made of highly skilled professionals from many different backgrounds in finance and investing. Each week we would review past investment allocation and decide the future investments. It is critical during the ever-changing state, national and global political and financial climate to constantly be evaluating situations as they arise and make sure the state's investment strategy is working in the best interest of its residents.Would you change the I-Cash program?Simplifying and streamlining the I-Cash program would be one on my top priorities. The I-Cash website should be changed so that users more comfortable with other languages are not at a disadvantage while using the site. Also, the process of collecting unclaimed property could be made easier. The required paper work should be able to be submitted online and the cumbersome requirement that calls for a notarized signature on claims of more than $100 should be eliminated. I would also work to make sure the definition of activity and inactivity properly applies to the type of asset being held. For example, a long-term investment with a dividend reinvestment feature is the type of asset where an owner may not look at it for years then one day they will see that it has been treated as unclaimed property. Types of investments like that and others should be classified in a separate category with different rules than a safety deposit box that hasn't been paid for in five years.Should the office of treasurer and comptroller be combined?Yes, I have even introduced bills to do just that. However, until it occurs Illinois deserves to have a strong, fiscal watchdog in the Office of Treasurer.What could the treasurer do to help repair the state's fiscal woes? Be specific.In FY13 the state paid over $300 million in interest payments due to the backlog of bills. The inability to control spending has led to tax increases and reduced services for Illinois residents and it needs to stop. The Office of Treasurer is uniquely positioned on both sides of the accounting ledger for state finances. The Office has legal standing to take the General Assembly and Governor to court over Article 8, Section 2 of the Illinois constitution that requires a balanced budget. An honestly balanced budget is a necessary first step in order to repair Illinois' fiscal condition.Finally, is there anything we haven't asked about that you feel we should know?As a former prosecutor in Kendall County, I will take my experience and set up a Government Integrity Unit within the Treasurer's Office. It will be comprised of financial experts, former prosecutors and law enforcement officials who will be charged with the task of reviewing state financial documents to ensure their accuracy and protect state pension funds from corruption and fraud.