Spotlight PA’s Jannelle Andes, Genevieve Hartnett, Alaysia Lane, Bill Meincke, and DJ Waller wrote: “The state treasurer is one of three elected row officers in the commonwealth, and plays a crucial role in managing state dollars. …The position is commonly seen as a stepping stone for higher office; U.S. Sen Bob Casey (D., Pa.) is a former treasurer.”
Garrity was first elected in 2020, defeating incumbent Joseph Torsella (D) 48.7% to 47.9%. Before her election, Garrity served in the U.S. Army Reserve for 30 years. She was also vice president for Global Tungsten & Powders. Garrity is campaigning on her record in office, focusing on what she says is her office’s record of returning unclaimed property, which she said, in 2023, returned “more unclaimed property than had ever been returned by a treasurer in a single year… since 1993.” She is also focusing on her support for “a tax-deductible 401k-style retirement savings program for Pennsylvanians not currently covered by pensions or other retirement savings vehicles.”
McClelland is a businesswoman and mental health counselor. Spotlight PA’s Jannelle Andes, Genevieve Hartnett, Alaysia Lane, Bill Meincke, and DJ Waller wrote McClelland “would require companies in Pennsylvania to verify their supply chains are free of goods from countries with records of human rights abuses and deny them state contracts if they can’t show they’ve cut ties with these countries.”
McClelland says she wants to “take on the issue of cyber-security, …We must establish a shared-learning process, an alert system and constant training…” She has also opposed foreign investments by the treasury saying “We have lots of secure investments that we can do here. I think it’s a better bet.”
The purchase of Israeli bonds has become an issue in this race. On Oct. 12, 2023, Garrity invested $20 million in Israeli bonds, saying it was important “to show our support at a time when the people of Israel are facing horrific terrorism.” Garrity says that the bonds were a good investment because they “pay above-market returns and they’ve never defaulted.” McClelland has criticized Garrity’s investment in these bonds, saying, “Fiscal policy, monetary policy, investment policy is incredibly complicated and dynamic, …if you’re going to do it for a performance, …I don’t buy into that.” McClelland also says that there are “too many factors when you’re dealing with a foreign country that you cannot control” as a reason why she opposes purchasing these bonds.
As of the most recent fundraising reports, Garrity had raised $833,529 and spent $398,679, and McClellan had raised $122,476 and spent $55,930.
Pennsylvania is one of 48 states that has a treasurer and one of 10 states holding an election for treasurer in 2024. As of August 2024, 12 states had a Democratic treasurer, 24 states had a Republican treasurer, and 12 states had a nonpartisan treasurer.
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