McClelland scoring an upset victory in the April Democratic primary sets up an interesting race between her and the incumbent.
While the presidential matchup and Senate race between Republican Dave McCormick and Sen. Bob Casey are commanding the most attention this cycle, there are some marquee matchups down ballot. All three row offices – Treasurer, Auditor General, and Attorney General – are up for election this year.
The Pennsylvania Office of the State Treasurer manages over $150 billion in state funds. Its duties include receiving and depositing state money, overseeing investments, and handling all transactions involving withdrawals and deposits from state agencies.
Additionally, the Treasury runs various programs to enhance financial opportunities for citizens, municipal governments, and non-profit organizations throughout the state. The State Treasurer can serve a maximum of two four-year terms.
This year’s race pits incumbent Republican Stacy Garrity against Democrat Erin McClelland.
McClelland, a former substance abuse counselor and project manager for the Allegheny County Department of Human Services, was a political newcomer before her surprise victory in April. McClelland won without the endorsement of the state Democratic Party after they backed Ryan Bizzarro, a state representative from Erie. Bizzarro significantly outraised McClelland to lose to her by 12%.
Incumbent Treasurer Stacy Garrity was also a political newcomer before toppling incumbent Democrat Joe Torsella in 2020. Torsella had a sizable fundraising advantage in polling throughout the race, before losing to Garrity by just under a point.
Garrity is a U.S. Army veteran who served three tours of duty between 1991 and 2008. Now a retired U.S. Army Reserve colonel, Garrity was nicknamed “the Angel of the Desert” while she served at Camp Bucca in southern Iraq.
Garrity has focused her bid for another term on her agency’s success in returning unclaimed property to the citizens of Pennsylvania. The State Treasury currently possesses $4.5 billion in unclaimed assets and Garrity’s office claims she has returned a record-breaking $550 million in assets during her first term.
Garrity has also touted her administration’s support for Israel in the wake of the October 7th terrorist attacks which claimed the lives of over 1,200 Israelis. Days after the attacks, Garrity directed the Treasury to invest $20 million in Israeli Bonds, an investment security the Israeli government claims is “one of Israel’s greatest opportunities to express support for the State of Israel.”
McClelland has criticized the incumbent treasurer on the main point of her campaign. This has included attacking her support for the Democrat-sponsored Keystone Saves program, a statewide retirement plan option for employers who otherwise can’t afford to offer one. McClelland has also called Garrity’s efforts to reform the pension system via privatization the “George W. Bush great recession starter kit.”
In an interview pre-primary, McClelland also discussed how she would increase the role of the State Treasurer and the power of the office saying “Ultimately, I’m excited to talk about all of the things that treasurer can do outside the office, not just inside, there’s so much opportunity there.”
