NEW YORK, NEW YORK —Raj Goyle—a CEO, attorney, and former legislator—kicked off his campaign on Thursday for the Democratic nomination to become New York State’s next Comptroller. Goyle is running on a new vision for the office, which for too long has been out of sight, out of mind—and out of the fight that Democrats around the country are waging against Donald Trump and his MAGA movement.
In the Trump 2.0 era, it is not enough for New York’s chief financial officer to focus exclusively on bookkeeping and modest pension fund returns. Goyle will do that—and more—with New Yorkers’ precious resources. But he is also determined to broaden its scope and use the office's vast authority to tackle some of the state's most pressing issues, including affordability and protecting the most vulnerable New Yorkers from a predatory administration in Washington, D.C.
"I'm the only candidate in the race who's been both an elected official and a successful private sector CEO. I know how to manage money and fight—and win—tough battles," Goyle said. "This office doesn't need a back-office wonk or caretaker who's content to 'do no harm.' It needs a leader with the courage to use its massive powers to make life better for New Yorkers."
The New York State Comptroller is the sole trustee of the third-largest public pension fund in the country, with over $280 billion in assets. No other office in America puts that much money in one person’s hands, and Goyle is determined to use it effectively.
“This is the most powerful state executive job in America,” Goyle said. “But right now, that power is being squandered.”
"As New Yorkers struggle to afford rent, childcare, and healthcare, the current Comptroller has invested in Florida condos, Chicago real estate and said nothing as Elon Musk took a chainsaw to public workers stock. Over the last decade, he’s paid billions in fees to asset managers for lackluster returns. That’s real money with little to show for it, and it reflects the wrong priorities for New York.”
Goyle added, “The Democratic Party is at a crossroads. We're at 40-year lows in public trust because people don't know what we stand for and what we can deliver. Nothing makes my blood boil more than wasting political power and money—and this office is a perfect example of that waste. I’m going to put an end to that."
A Plan to Transform the Most Powerful Office You’ve Never Heard Of
Goyle enters the race with an ambitious agenda to transform how the Comptroller's office operates. He is determined to put to bed the sleepy and complacent bookkeeping approach that has defined it for too long and immediately begin proactively wielding its powers to benefit New Yorkers.
“I grew up reading about FDR and JFK. The Democratic Party I am proud to be a member of once believed in using power to improve people’s lives. The New Deal and the Great Society created the foundations of New York’s safety net. We need Democrats who fight like that—and I’m going to show how we can do it again,” Goyle said.
Goyle's platform centers on three core priorities: standing as a bulwark against Trumpism and the threats it poses to New Yorkers and the country; rebalancing the pension fund and eliminating wasteful excess to ensure security for retirees and efficient use of taxpayer dollars; and investing in New York and New Yorkers’ needs.
Key elements of Goyle's vision include:
Investing in New York Housing: Redirect pension investments from out-of-state developments to building affordable housing here in New York. "The Comptroller should treat affordable housing as a core asset class that benefits New Yorkers," said Goyle, contrasting this with the current Comptroller’s practice of investing in high-fee vehicles building real estate in Orlando and Chicago and underutilizing the Economically Targeted Investments (ETI) program.
Delivering Childcare and Debt Relief for New Yorkers: Issue groundbreaking audit on the current economic hit to New York without universal child care. Partner with DASNY and HCR to structure low-cost, tax-exempt bonds for building and expanding childcare centers, and expand the pension’s ETIs to supply patient capital and credit enhancements.
Cracking Down on Exploitative Business Practices and Scams: Act in concert with pension funds in states like Illinois and California to change industry behavior. Establish shared standards that prohibit investments in companies that prey on consumers with junk fees, subscription traps, and schemes that exploit seniors.
Reducing Wall Street Waste: Stop wasting billions on excessive asset manager fees for cookie-cutter approaches and instead use best-in-class software to identify proactive investments and maximize returns. Use the office’s auditing and subpoena power to see exactly how the pension fund’s private equity sponsors are spending and allocating money.
Rooting Out Corruption and Abuse: Use the office's 250 auditors and subpoena power to expose corruption in local government, investigate utility companies that gouge consumers, and root out other abuse taking place under the over $250 billion in state spending overseen by the office.
A Bulwark Against Trumpism
At a moment when New Yorkers are demanding Democratic leaders fight for them, Goyle is committed to using the Comptroller’s power to shield the state and its people from destructive Trump administration policies.
This is not a radical theory. Many states around the country use their financial power as a tool for fighting Trump. But no other state faces the same threat—and none have the ability to make waves like New York. If only our Comptroller realized it.
"I’ll use the Comptroller's office as a bulwark against Trump—protecting New Yorkers' money, values, and future from being hijacked by MAGA extremism," said Goyle.
Goyle plans to organize blue-state pension funds to leverage their combined capital to force change from corporations that engage in abusive and exploitative practices, similar to how red-state financial officers coordinated through the State Financial Officers Foundation to push right-wing priorities.
"Red states have organized their pension funds under the State Financial Officers Foundation to push a right-wing agenda. There's simply no reason why New York isn't leading the blue states in doing the same in service of protecting consumers and insisting on more ethical private-sector conduct. When blue-state pension funds act together, we can force industry-wide changes,” said Goyle.
Acting as the state’s procurement watchdog, the Comptroller reviews and approves many state contracts and can withhold approval or reject agreements that contravene state law or labor protections, including those that would facilitate ICE raids.
"ICE raids are a threat to the New York economy and our people. We value our immigrants in New York," Goyle said. "The Comptroller should be on the front lines of that fight, not just personally, but using the power of the office to make sure that we do not allow ICE and we don't allow the federal government to trample the rights of New Yorkers."
Challenging a Complacent Incumbent
Goyle’s announcement marks a challenge to longtime incumbent Tom DiNapoli, who has held the office since George W. Bush was president without ever facing a primary election.
“Tom DiNapoli is the definition of Albany’s go-along-to-get-along culture. He has an immensely powerful position and does nothing with it—at a time when New Yorkers want to see boldness, values, and vision.”
"DiNapoli has been in elected office since the Reagan years," Goyle continued. "He doesn't use email. He brags that staff print messages out for him. That mindset is why audits take years, why the pension fund underperforms, and why he is sitting on $20 billion in unclaimed funds that belong to New Yorkers.
A Proven Track Record of Fighting and Winning
Goyle, a longtime New Yorker, brings a unique combination of political experience and private sector success to the race.
In 2006, he became the first Democrat to ever represent the 87th District in the Kansas House of Representatives, defeating a three-term Republican incumbent and going on to take on the right-wing in the state legislature and win reelection. As an entrepreneur in New York City, Goyle built a technology company from scratch, raising four rounds of financing and eventually selling the business.
"I knocked 15,000 doors to win campaigns nobody thought I could win," said Goyle. "It took me four years to sign my first client as a CEO. These experiences forge steel, and that's what we need to transform this office and fight Trump.”
About Raj Goyle
Raj Goyle is the founder of Phone Free New York and the board chair of the 5BORO Institute, a leading think tank in New York City dedicated to solving public policy issues facing the NYC Metro area. Goyle has an extensive career in politics and advocacy, including four years of service in the Kansas Legislature, where he was one of the first Indian Americans elected to office in the country. He has worked as a civil rights lawyer at the American Civil Liberties Union and was CEO and co-founder of Bodhala, a legal artificial intelligence company which was acquired in 2021.
