GOP candidates O’Neill, Santos differ in wealth, investments
Washington – Republican congressional candidate Ruby Corby O’Neill and her husband are heavily invested in Connecticut state and municipal bonds, while her GOP rival for the 5th District seat, Manny Santos, reported earning a $87,000 salary from UnitedHealth Group last year.
Those are a few of the financial details that can be gleaned from disclosure reports candidates for retiring Rep. Elizabeth Esty’s seat filed with the Office of the Clerk of the House of Representatives.
The financial disclosure reports for a third Republican in the race, Watertown businessman Richard DuPont, were not available. His campaign did not immediately respond to questions about the status of his disclosure report.
A candidate for Congress must file a financial disclosure report within 30 days of spending or raising $5,000 for his or her campaign. DuPont’s campaign has raised about $80,000.
Candidates for Congress must report their investment holdings and liabilities in wide ranges, so only a broad view of their assets and debts are made public. In addition, certain assets, like the value of their homes, are not required to be disclosed.
O’Neill’s disclosure form shows that she and her husband, state Rep. Arthur O’Neill, jointly own assets valued at between $1.9 million to nearly $5 million.
Meanwhile, former Meriden Mayor Manny Santos reported assets valued between $182,000 and $495,000.
The O’Neill’s have a conservative investment strategy, with state and municipal bond holdings much more dominant than investments in mutual funds or other stock-based options. Besides investing in various types of Connecticut state bonds, including University of Connecticut and Connecticut state general obligation bonds, the O’Neill’s invested in East Haddam and Clinton municipal bonds.
Interest received this year from those bond holdings was listed in the range of about $23,000 to $52,000.
The couple also invested in the U.S. Treasury, owning between $100,000 and $250,000 in U.S. savings bonds.
Santos, meanwhile, invested mostly in mutual funds, making those investments both through retirement and brokerage accounts.
A retired college professor, O’Neill did not disclose a salary, but Santos reported earning $87,000 from his job at UnitedHealth Group last year.
Neither candidate reported any debt.
O’Neill, Santos and DuPont will compete in the Aug. 14 primary to be the Republican candidate running for the congressional seat that covers much of northwest Connecticut.
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