Political veteran Caprio takes on newcomer Magaziner in Rhode Island treasurer's race

Economic IndicatorsAssociated Press

Former Treasurer Frank Caprio is seeking a second term against a political newcomer frustrated with Rhode Island's failure to rebound from the recession.

Seth Magaziner has promised to bring a fresh perspective to state government and use the office to promote economic growth. The 31-year-old investment professional has made the state's struggling economy central to his campaign.

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Caprio says he wants to use what he learned in his first term to improve the office. The 48-year-old attorney and investor is hoping voters value his experience as treasurer from 2007 to 2010.

The once low-profile office is in the political spotlight because of issues with the state pension fund.

The winner of the Sept. 9 primary faces former state Auditor General Ernie Almonte, who is running as an independent, in November.