Iowa Treasurer election, 2022
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| Iowa Treasurer |
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| Election details |
| Filing deadline: March 18, 2022 |
| Primary: June 7, 2022 General: November 8, 2022 Pre-election incumbent(s): Michael L. Fitzgerald (Democratic) |
| How to vote |
| Poll times: 7 a.m. to 9 p.m. Voting in Iowa |
| Ballotpedia analysis |
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| Iowa executive elections |
| Governor Lieutenant Governor |
Roby Smith (R) defeated incumbent Michael L. Fitzgerald (D) in the general election for Iowa treasurer on November 8, 2022.
Fitzgerald was first elected as Iowa treasurer in 1982. Before taking office, Fitzgerald worked as a marketing analyst for Massey Ferguson Company. Fitzgerald said, "In times like today, there is no question that experience counts. Through my leadership, I will continue to promote fair government and safe financial strategies."[1]
Smith was first elected to the Iowa State Senate, representing District 47, in 2010. Smith also worked as a banker and small business owner.[2] According to his campaign website, Smith "never missed a single vote from the floor of the Iowa Senate in eleven years" and "will bring that same dedication and work ethic to the State Treasurer’s office, where he will show up every day ready to work for Iowa’s taxpayers."[3]
Fitzgerald said Iowa should establish a state retirement program for Iowans with no retirement plans through their employer and said the state should protect state pension funds. “With half the people in Iowa approaching retirement age with no pension or retirement benefits, I think it’s a serious problem,” Fitzgerald said.[4] In September 2022, Fitzgerald also announced a $10 million investment in Israel Bonds through the Development Corporation for Israel.[5]
Smith emphasized financial privacy, saying, "Iowa needs a treasurer who understands the challenges of the 21st century and is willing to protect Iowans from a Biden administration that is determined to invade our financial privacy."[6] Smith also highlighted his support of tax reforms and financial literacy programs while a member of the Iowa Senate.[7]
In the 2018 election, Fitzgerald defeated Jeremy Davis (R) 55%-43%.
The Iowa treasurer is the state's chief financial officer. The treasurer is elected to serve a four-year term concurrent with the governor's term. The Iowa Treasurer's Office maintains state funds and acts as the state's bank. The main duties of the office include receiving and distributing state funds as needed, investing state money, maintaining state accounts, and coordinating financial planning.[8]
Candidates and election results
General election
General election for Iowa Treasurer of State
Roby Smith defeated incumbent Michael L. Fitzgerald in the general election for Iowa Treasurer of State on November 8, 2022.
Candidate | % | Votes | ||
| ✔ | Roby Smith (R) | 51.3 | 614,943 | |
| Michael L. Fitzgerald (D) | 48.7 | 584,021 | ||
| Other/Write-in votes | 0.1 | 667 | ||
| Total votes: 1,199,631 | ||||
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Democratic primary election
Democratic primary for Iowa Treasurer of State
Incumbent Michael L. Fitzgerald advanced from the Democratic primary for Iowa Treasurer of State on June 7, 2022.
Candidate | % | Votes | ||
| ✔ | Michael L. Fitzgerald | 99.8 | 145,929 | |
| Other/Write-in votes | 0.2 | 235 | ||
| Total votes: 146,164 | ||||
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Republican primary election
Republican primary for Iowa Treasurer of State
Roby Smith advanced from the Republican primary for Iowa Treasurer of State on June 7, 2022.
Candidate | % | Votes | ||
| ✔ | Roby Smith | 99.6 | 164,191 | |
| Other/Write-in votes | 0.4 | 603 | ||
| Total votes: 164,794 | ||||
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Pre-election analysis and commentary
What's at stake
- The River Cities' Reader's Tony Malandra described the duties of the office, saying, "Iowa’s chief financial officer oversees how the public’s money is spent and invested. A second significant duty is maintaining and distributing funds from the Linked Investments for Tomorrow Fund (LIFT), which is a US Small Business Administration-style system that allocates and distributes funds to financial institutions in the state for small businesses to use for starting or expanding enterprises.[9]
- The Quad-City Times's Tom Barton described the significance of the race in relation to the partisan composition of Iowa's statewide offices and Fitzgerald's history in office. "Fitzgerald is one of only three Democrats to hold statewide office in Iowa and is the nation's longest-serving state treasurer. He was first elected in 1982 and re-elected in 2018 to his 10th term," Barton said.[10]
Messaging and strategy
- The Times-Republican's Robert Maharry described Fitzgerald's speech at a September 14, 2022, event in Marshalltown, Iowa as follows: "Michael Fitzgerald, the incumbent state treasurer who has held his seat for 39 years, stood up next and mostly focused on initiatives he has implemented during his tenure including the Great Iowa Treasure Hunt, College Savings Iowa and IAble. He also highlighted his local roots: Fitzgerald was born in Marshalltown and lived near State Center as a child before eventually moving to Colo and graduating from high school there. If re-elected, he vowed to continue to fight for the Iowa Public Employees Retirement System (IPERS) system and resist attempts at privatization.[11]
- The Iowa Capital Dispatch's Robin Opsahl described Fitzgerald's key messages, saying, "If re-elected, Fitzgerald said his goals include returning federally held matured savings bonds to Iowa, in addition to continuing work on the programs built during his tenure as the longest-serving treasurer of state in the nation. He created the 529 College Saving Programs, which invests and distributes money to families for post-secondary education free of state and federal taxes. Fitzgerald also encouraged fairgoers to visit the Treasurer of State’s booth in the Varied Industries Building, where they have the chance to claim lost money."[12]
- Iowa Public Radio's Katarina Sostaric said, "Smith’s campaign website says he will work to protect Iowans’ financial privacy, improve financial literacy education, and will continue to raise awareness for the tax-free college savings program and a savings program for Iowans with disabilities. It also says Smith will ensure no Iowa tax dollars are invested in programs that benefit countries that support terrorism."[13]
- The Iowa Capital Dispatch's Kate Kealy said the following about the candidates' platforms: "If elected as state treasurer, former Republican state Sen. Roby Smith would use the position to prevent federal overreach and ensure Iowa tax dollars don’t aid terrorist organizations, his campaign states. Democratic incumbent Michael Fitzgerald said he hopes to continue building on programs he implemented during his time as the longest-serving state treasurer in the nation."[14]
Fundraising and spending
- The Iowa Capital Dispatch's Robin Opsahl said, "While [Fitzgerald] won re-election many times before, there’s more money involved in this year’s treasurer race than in previous years. Smith surpassed Fitzgerald in fundraising efforts with $286,400 in the bank according to July campaign finance reports. Fitzgerald reported $74,000 cash on hand."[12]
- The Gazette's Erin Murphy said, "Smith’s 2021 haul was more than eight times that from Fitzgerald, who reported raising just more than $16,000 in 2021, finishing the year with roughly $50,000 in his campaign account. Smith highlighted that his cash on hand total of nearly $145,000 is more than the roughly $144,000 Fitzgerald has raised over the past 10 years."[15]
Voting information
- See also: Voting in Iowa
Candidate comparison
Candidate profiles
This section includes candidate profiles that may be created in one of two ways: either the candidate completed Ballotpedia's Candidate Connection survey, or Ballotpedia staff may compile a profile based on campaign websites, advertisements, and public statements after identifying the candidate as noteworthy. For more on how we select candidates to include, click here.
Party: Democratic Party
Incumbent: Yes
Political Office:
Iowa Treasurer of State (Assumed office: 1983)
Biography: Fitzgerald was born in Marshalltown, Iowa and received a B.S. in business administration from the University of Iowa. He worked as a marketing analyst for Massey Ferguson Company for eight years before assuming the office of treasurer.
Show sources
This information was current as of the candidate's run for Iowa Treasurer of State in 2022.
Party: Republican Party
Incumbent: No
Political Office:
Iowa State Senate District 47 (Assumed office: 2011)
Biography: Smith received a B.S. in business administration with a minor in communications from Concordia University. His professional experience includes working as a banker and owning a small business.
Show sources
This information was current as of the candidate's run for Iowa Treasurer of State in 2022.
Ballotpedia's Candidate Connection survey responses
Ballotpedia asks all federal, state, and local candidates to complete a survey and share what motivates them on political and personal levels. Candidates are asked three required questions for this survey, but they may answer additional optional questions as well.
No candidate in this race completed Ballotpedia's Candidate Connection survey.
Campaign advertisements
This section includes a selection of up to three campaign advertisements per candidate released in this race, as well as links to candidates' YouTube, Vimeo, and/or Facebook video pages. If you are aware of other links that should be included, please email us.
Michael L. Fitzgerald
Have a link to Michael L. Fitzgerald's campaign ads on YouTube? Email us.
Roby Smith
| December 13, 2021 |
View more ads here:
Election competitiveness
Polls
- See also: Ballotpedia's approach to covering polls
We provide results for polls that are included in polling aggregation from FiveThirtyEight and RealClearPolitics, when available. No polls were available for this election. To notify us of polls published in this election, please email us.
Endorsements
Click the links below to see official endorsement lists published on candidate campaign websites for any candidates that make that information available. If you are aware of a website that should be included, please email us.
Election spending
Campaign finance
Candidates in this election submitted campaign finance reports to the Iowa Ethics & Campaign Disclosure Board. Click here to access those reports.
Satellite spending
- See also: Satellite spending
Satellite spending describes political spending not controlled by candidates or their campaigns; that is, any political expenditures made by groups or individuals that are not directly affiliated with a candidate. This includes spending by political party committees, super PACs, trade associations, and 501(c)(4) nonprofit groups.[16][17][18]
If available, this section includes links to online resources tracking satellite spending in this election. To notify us of a resource to add, email us.
| By candidate | By election |
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Election context
Environmental, social, and corporate governance (ESG)
| Environmental, social, and corporate governance |
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| Select a topic from the dropdown below to learn more. |
In the context of public policy, environmental, social, and corporate governance (ESG) refers to the use of non-financial factors in the creation of policy and management of public funds. In considering ESG, public fund managers might require investing only in companies that support certain standards with respect to renewable energy, natural resources, pollution, carbon emissions, and biodiversity; social positions like diversity, equity and inclusion; and diversity in governing bodies.[19]
ESG investing stands in contrast to an investment approach based on the likely maximization of financial returns to the investor.[20]
Although ESG is an approach to investing, it has political overtones. Politicians, particularly from the Republican Party, argue that large ESG-oriented financial firms are abusing their power in order to advance a liberal political agenda in the areas of climate change, social justice, and diversity.[21] Opponents have also characterized ESG investing as "...investment designed not to maximize financial returns but to impose a leftist social and economic agenda that cannot otherwise be implemented through the ballot box."[22] Opponents also argue that focusing on ESG factors has led to "lackluster financial results" that have had a harmful impact on the rate of return to beneficiaries of state public pension plans.[23] Click here to read more about opposition to ESG.
Supporters of ESG investing argue that in the long run, ESG investing will lead to acceptable financial returns.[24] ESG advocates say that ESG and profit are not mutually exclusive.[24] Supporters of ESG also argue that corporations should adopt ESG philosophies and approaches to achieve what they view as positive outcomes.[25] Click here to read more about support for ESG.
ESG issues in this election
Michael Fitzgerald (D) and Roby Smith (R), who ran for Iowa state treasurer, made the following statements on ESG-related issues in this election. Below are samples of quotes from candidates in this election on issues relevant to ESG and state government. If you are aware of a statement that should be included, please email us.
Ballot access requirements
See statutes: Title II of the Iowa Code
There are four ways in which a candidate can gain access to the general election ballot: by primary election, by political party convention, by Non-party Political Organization (NPPO) convention, or by petition. These are detailed below.
Iowa allows any registered voter to challenge a candidate's nominating petition, as long as the challenge is made in writing and within 74 days of the corresponding election.[30][31]
By primary election
A candidate seeking the nomination of a state-recognized political party in a primary election must be a member of that party. Non-party Political Organizations (NPPOs) are not permitted to participate in primary elections. A primary election candidate must file an affidavit of candidacy and nomination petition with the Iowa Secretary of State during the primary election filing period, which begins 99 days before the primary and ends at 5 p.m. on the 81st day before the primary. The affidavit of candidacy and the nomination petition must be filed simultaneously.[32][33]
For the number of signatures required for nomination petitions, see the table below.
| Formulas for determining signature requirements for political party candidates in primary elections | ||
|---|---|---|
| Office sought | Number of signatures needed | |
| Governor or United States Senator | "At least 1 percent of the voters of the candidate's party, in each of at least 10 counties in the state, and in the aggregate not less than 0.5 perfect of the total vote of the candidate's party in the state, as shown in the last general election"[34] | |
| State executive office (other than governor) | 1,000, including 50 from each of at least 10 counties in the state[34] | |
| United States Representative | "At least 2 percent of the voters of the candidate's party, as shown by the last general election, in each of at least one-half of the counties of the district, and in the aggregate not less than 1 percent of the total vote of the candidate's party in such district, as shown by the last general election"[34] | |
| State Senator | 100 from the senatorial district[34] | |
| State Representative | 50 from the representative district[34] | |
By political party convention
If a political party fails to nominate a candidate at the primary election, the party may hold a convention after the primary to nominate a candidate. That candidate must then file a political party convention certificate and an affidavit of candidacy. The deadline to file the convention certificate and affidavit of candidacy is the same as the general election filing deadline. However, a political party convention candidate may file his or her documents before the filing period begins for general election candidates.[35]
By Non-party Political Organization (NPPO) convention
Non-party Political Organizations (NPPOs) are permitted to hold conventions to nominate their candidates. However, in order to qualify their nominations, NPPOs must meet the following requirements:[35][36] [37]
- To nominate a candidate to a state executive office or the United States Senate, 500 eligible electors, meaning people who meet all the requirements to register to vote, must attend the convention, and 25 counties must be represented by at least one eligible elector each.
- To nominate a candidate to the United States House of Representatives, 200 eligible electors who are residents of the congressional district the candidate seeks to represent must attend, including one eligible elector from at least half of the counties in the district.
- To nominate a candidate to the Iowa State Senate, 50 eligible electors who are residents of the senatorial district must attend, including one eligible elector from one-half of the precincts in the senatorial district.
- To nominate a candidate to the Iowa House of Representatives, 25 eligible electors who are residents of the representative district must attend, including one eligible elector from one-half of the precincts in the representative district.
- A convention may be held at any time as long as it is before the general election filing deadline.[38]
- After the convention, the NPPO must provide a list of those who attended the convention, including their addresses, to the Iowa Secretary of State, along with a convention certificate and an affidavit of candidacy for the candidate nominated. These documents must be filed together during the general election filing period, which begins 99 days before the general election and ends at 5 p.m. 81 days before the general election.[38][35][31]
By petition
A candidate who is not affiliated with any political party or NPPO can be nominated by petition. A NPPO candidate can gain ballot access in this manner if the NPPO cannot meet the convention attendance requirements described above. A petition candidates must file an affidavit of candidacy and nomination petition with the Iowa Secretary of State. These forms must be filed together by 5 p.m. 81 days before the general election.[31][36]
The table below details the signature requirements necessary for obtaining ballot access by petition.
| Formulas for determining signature requirements for NPPO candidates | ||
|---|---|---|
| Office sought | Number of signatures needed | |
| United States Senator or governor | 3,500 eligible electors, including at least 100 from at least 19 counties[35][36] | |
| Otherwise statewide executive offices | 2,500 eligible electors, including at least 77 from at least 18 counties[35][36] | |
| United States Representative | 1,726 eligible electors who are residents of the congressional district, including at least 47 eligible electors each from at least one-half of the counties in the congressional district[35][36] | |
Election history
2018
- See also: Iowa Treasurer election, 2018
General election
General election for Iowa Treasurer of State
Incumbent Michael L. Fitzgerald defeated Jeremy Davis and Timothy Hird in the general election for Iowa Treasurer of State on November 6, 2018.
Candidate | % | Votes | ||
| ✔ | Michael L. Fitzgerald (D) | 54.8 | 710,426 | |
| Jeremy Davis (R) | 42.7 | 553,691 | ||
| Timothy Hird (L) | 2.4 | 31,268 | ||
| Other/Write-in votes | 0.0 | 465 | ||
| Total votes: 1,295,850 | ||||
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Democratic primary election
Democratic primary for Iowa Treasurer of State
Incumbent Michael L. Fitzgerald advanced from the Democratic primary for Iowa Treasurer of State on June 5, 2018.
Candidate | % | Votes | ||
| ✔ | Michael L. Fitzgerald | 100.0 | 156,225 | |
| Total votes: 156,225 | ||||
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2014
| Iowa Treasurer, 2014 | ||||
|---|---|---|---|---|
| Party | Candidate | Vote % | Votes | |
| Democratic |  Michael Fitzgerald Incumbent |
52.9% | 576,942 | |
| Republican | Sam Clovis | 43.7% | 476,633 | |
| Libertarian | Keith Laube | 3.4% | 36,945 | |
| Nonpartisan | Write-in votes | 0.1% | 670 | |
| Total Votes | 1,091,190 | |||
| Election results via Iowa Secretary of State | ||||
2022 battleground elections
- See also: Battlegrounds
This election was a battleground race. Other 2022 battleground elections included:
- North Carolina's 11th Congressional District election, 2022 (May 17 Republican primary)
- Texas' 1st Congressional District election, 2022 (March 1 Republican primary)
- Texas' 28th Congressional District election, 2022 (March 1 Democratic primary)
- Texas' 35th Congressional District election, 2022 (March 1 Democratic primary)
- United States Senate election in Ohio, 2022 (May 3 Republican primary)
See also
| Iowa | State Executive Elections | News and Analysis |
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External links
Footnotes
- ↑ Iowans for Fitzgerald, "Home," accessed September 12, 2022
- ↑ Roby Smith, "About," accessed September 12, 2022
- ↑ Roby Smith, "Issues," accessed September 12, 2022
- ↑ Iowa Capital Dispatch, "Political Soapbox: Here’s what candidates are saying at the Iowa State Fair," August 20, 2022
- ↑ KIOW, "Treasurer Fitzgerald Announces $10 Million Israel Bond Purchase," September 7, 2022
- ↑ Des Moines Register, "GOP state Sen. Roby Smith to run for Iowa state treasurer, challenging Democrat Mike Fitzgerald," December 9, 2021
- ↑ The Gazette, "Davenport Republican Roby Smith running for state treasurer," December 9, 2021
- ↑ Iowa State Treasurer, "Our responsibilities" accessed January 24, 2021
- ↑ River Cities' Reader, "National Federation of Independent Business (NFIB) Endorses Roby Smith for State Treasurer," September 6, 2022
- ↑ Quad-City Times, "Davenport Republican state lawmaker launches bid for statewide office," December 9, 2021
- ↑ Times-Republican, "Democratic candidates convene at Wayward Social," September 15, 2022
- ↑ 12.0 12.1 Iowa Capital Dispatch, "Political Soapbox: Here’s what candidates are saying at the Iowa State Fair," August 20, 2022
- ↑ Iowa Public Radio, "State Treasurer Fitzgerald says state-run retirement program is a priority if he's re-elected," August 11, 2022
- ↑ Iowa Capital Dispatch, "Candidates for state treasurer diverge on office’s role, goals," August 10, 2022
- ↑ The Gazette, "Iowa Republicans’ fundraising crushes Democrats," January 19, 2022
- ↑ OpenSecrets.org, "Outside Spending," accessed December 12, 2021
- ↑ OpenSecrets.org, "Total Outside Spending by Election Cycle, All Groups," accessed December 12, 2021
- ↑ National Review.com, "Why the Media Hate Super PACs," December 12, 2021
- ↑ Baker Tilly, "ESG matters: an ESG primer for state and local government leaders," February 3, 2022
- ↑ Wall Street Journal, "ESG and the ‘Long-Run Interests’ Dodge", September 29, 2022
- ↑ NPR, "How ESG investing got tangled up in America's culture wars", September 12, 2022
- ↑ Washington Examiner, "‘ESG investing’ is a leftist power grab by another name", July 11, 2022
- ↑ Wall Street Journal, "An ESG Champion Stumbles: The California Public Employees’ Retirement System posts a decade of lackluster returns.", September 22, 2022
- ↑ 24.0 24.1 CNBC, "Lauren Taylor Wolfe says it’s just too risky for investors to ignore ESG amid recent pushback", September 23, 2022
- ↑ CNBC, "There’s an ESG backlash inside the executive ranks at top corporations", September 29, 2022
- ↑ Iowans for Fitzgerald, "Home," accessed September 12, 2022
- ↑ Roby Smith, "Issues," accessed September 12, 2022
- ↑ Roby Smith, "Issues," accessed September 12, 2022
- ↑ Roby Smith, "Issues," accessed September 12, 2022
- ↑ Iowa Code, "Title II, Section 43.24," accessed January 13, 2014
- ↑ 31.0 31.1 31.2 Iowa Code, "Title II, Section 44.4," accessed January 13, 2014
- ↑ Iowa Secretary of State, "Candidate's Guide to the Primary Election," accessed January 13, 2014
- ↑ Iowa Secretary of State, "Title II, Section 43.11," accessed January 13, 2014
- ↑ 34.0 34.1 34.2 34.3 34.4 Iowa Code, "Title II, Section 43.20," accessed January 13, 2014
- ↑ 35.0 35.1 35.2 35.3 35.4 35.5 Iowa Secretary of State, "Candidate's Guide to the General Election," accessed January 13, 2014
- ↑ 36.0 36.1 36.2 36.3 36.4 The Iowa Legislature, "SF413," accessed March 10, 2021
- ↑ Iowa Code, "Title II, Section 44.1," accessed January 13, 2014
- ↑ 38.0 38.1 Iowa Secretary of State Website, "Forming a Political Party in Iowa," accessed January 13, 2014
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