Republican incumbent Stacy Garrity defeated Democratic challenger Erin McClelland and will continue to manage state finances and pension funds as Pennsylvania state treasurer.
The Associated Press called the race at 3:17 a.m., with Garrity earning 52% of the vote.
Several third-party candidates were also on the ballot. Nick Ciesielski ran with the Libertarian Party. Troy Bowman represented the Constitution Party. Chris Foster was the candidate of the centrist Forward Party, founded by former presidential candidate Andrew Yang.
The state row office is responsible for overseeing $150 billion in state assets, and the department employs more than 300 people.
Garrity has held the position since 2021 when she beat incumbent Democrat Joe Torsella, even though he often led her in the polls and had reportedly out-fundraised her.
At times, she has aligned herself with former President Donald Trump and made appearances at several of his events, including a 2021 rally meant to cast doubt on the results of the 2020 election. Garrity told Spotlight PA she attended the event to critique the election process.
Garrity, who served in the U.S. Army Reserves for 30 years, has the backing of law enforcement groups, including the Pittsburgh, Philadelphia and state lodges of the Fraternal Order of Police.
Her Democratic opponent, McClelland, had mounted a slew of unsuccessful bids for Congress and Allegheny County Executive before she defeated Democratic state Rep. Ryan Bizzarro of Erie in the primary.
Her win surprised the political establishment; McClelland, a former mental health and substance abuse counselor, promoted herself as a political outsider, and her primary campaign was mostly self-funded. She broke with the party to criticize Gov. Josh Shapiro this summer while he was under consideration to be Kamala Harris’s running mate. Shapiro declined to endorse McClelland this fall.
The candidates clashed about state investment in Israel Bonds. The Pittsburgh Jewish Chronicle reported Garrity ordered an increase of $20 million in the state’s investment in the bonds after Hamas attacked Israel more than a year ago.
Garrity said the bonds were a good investment and that Pennsylvania should support Israel. McClelland criticized her for using the treasurer’s office to “take sides in foreign conflicts,” and argued it would be difficult to divest from the bonds, as they’re not tradable.
