Candidates for state treasurer diverge on office’s role, goals – Iowa Capital Dispatch

If elected as state treasurer, former Republican state Sen. Roby Smith would use the place to forestall federal overreach and guarantee Iowa tax {dollars} don’t help terrorist organizations, his marketing campaign states. Democratic incumbent Michael Fitzgerald mentioned he hopes to proceed constructing on applications he carried out throughout his time because the longest-serving state treasurer within the nation.

Smith said on his marketing campaign web page that the Biden administration is utilizing “unconstitutional measures to listen in on on a regular basis Individuals.” If elected, he plans to guard the monetary privateness of Iowans. Fitzgerald questioned this purpose, saying the Inner Income Service has all the time had the ability to analyze financial institution accounts with uncommon exercise. 

“He’s operating towards Joe Biden… I don’t know anybody who has had that specific drawback,” Fitzgerald mentioned. “We’re pleased with what we do within the treasurer’s workplace, I can’t management what the U.S. Treasury does.” 

The Iowa Capital Dispatch has tried to contact Smith since June 8. He has not responded to repeated requests for an interview.

Smith marketing campaign says he’ll resist efforts to divest from Israel

Smith’s marketing campaign additionally guarantees to forestall Iowa tax {dollars} from going towards nations that “hurt Individuals or assist terrorism.” Smith opposes the  BSD (boycott/sanction/divestment) motion and would “reject any calls to interrupt off financial ties between the state of Iowa and the individuals of Israel.”

Fitzgerald is conserving his give attention to home points. Whereas overseeing the unclaimed property program, Fitzgerald has returned over $322 million in misplaced property again to property homeowners. 

“You understand who I’m after I run,” Fitzgerald mentioned. “I’ve a triple-A plan. I inform individuals about my method to authorities which is hiring an expert employees, doing extra with much less, being environment friendly and fiscally accountable.”

Though Smith’s web site doesn’t element any plans for brand new applications, he mentioned he would work to enhance monetary literacy within the state. He additionally mentioned he plans to extend consciousness of the Attaining a Higher Life Expertise (ABLE) Act, a federal program that enables households of people with disabilities to have a tax-free financial savings account presently administered by Fitzgerald.

With almost 10 years of expertise as a banker, Smith can be a small enterprise proprietor whereas serving on the Quad Cities-area U.S. Financial institution board. Representing Davenport and Bettendorf Iowa within the Iowa Senate for 11 years, Smith championed his involvement with the latest revenue and retirement tax cuts handed by the Legislature. Smith additionally serves on the Scott Neighborhood School Basis Board.

Fitzgerald works for faculty financial savings

Fitzgerald has served because the president of the Nationwide Affiliation of State Treasurers. He’s the administrator and creator of Iowa’s 529 School Saving Packages, which invests and distributes cash to assist households save for greater training prices freed from federal and state taxes. Smith’s web site says he would additionally work to lift consciousness of this program.

“That’s how I’m serving to Iowans cope with the super price of going to varsity,” Fitzgerald mentioned. “I acknowledged this again within the late Nineteen Nineties. I pushed for this program and it has been highly regarded and it continues to develop. I’m pleased with it, I began it and that’s how we’re serving to ship our Iowa youngsters to varsity.”

To advertise the 529 Program Fitzgerald’s workplace hosted a contest in all 99 counties, giving out a $529 scholarship. Within the final 16 years, the treasurer’s workplace lowered the price of School Financial savings Iowa 9 instances with over $7 billion in financial savings throughout 280,000 accounts. 

“I’ve a ardour for serving Iowans as their state treasurer and I’ll proceed to advertise truthful authorities and secure monetary methods,” Fitzgerald mentioned.

Marketing campaign contributions 

Smith championed his record-breaking marketing campaign fundraising. As of July, Smith’s marketing campaign reported having $286,400 within the financial institution compared to Fitzgerald’s almost $74,000. Smith has raised more cash than any candidate for state treasurer in Iowa historical past, in accordance with his marketing campaign web site. 

“In case you are the state treasurer, it’s important to be looking for the people who find themselves relying on these funds for his or her retirement and likewise caring for the state for the taxpayers to verify it’s invested and saved secure,” Fitzgerald mentioned. “That’s what I give attention to, and I’m not going to be taking part in favorites with large marketing campaign contributors just like the playing business.”

Smith acquired contributions from Elite On line casino Resorts Political Motion Committee (PAC), however the REALTORS PAC, the Related Builder and Contractors Iowa PAC and Iowans for Tax Aid PAC.

“Our message of fiscal accountability and monetary accountability is resonating throughout Iowa,” Smith state in accordance with his marketing campaign web site. “Folks from throughout are opening their hearts and their pocketbooks to us, and blessing our marketing campaign with their time, assist, and their private funding. I couldn’t be extra inspired.”

Fitzgerald mentioned he campaigns by touring across the state speaking to completely different teams such because the Lions Membership or church organizations to tell constituents about what his workplace does and its varied applications. 

Fitzgerald has not acquired any contributions from unions or PACS. He has collected $1,000 contributions from 14 people dwelling out of state, together with former President Barack Obama. Because the 2018 election, Fitzgerald has additionally compiled 40 contributions from Neighborhood Alternative Credit score Union, starting from $10 to $26. The contribution’s from the credit score union totaled over $650. 

“I’m not certain you need somebody beholden to all that large cash in case you are the state treasurer,” Fitzgerald mentioned. “You understand the state treasurer needs to be a fiduciary, that means looking for Iowa’s, whether or not it’s defending their taxpayer cash or defending their IPERs.”