Stacy Garrity
Stacy Garrity (Republican Party) is the Pennsylvania Treasurer. She assumed office on January 19, 2021. Her current term ends on January 21, 2025.
Garrity (Republican Party) ran for re-election for Pennsylvania Treasurer. She won in the general election on November 5, 2024.
Garrity completed Ballotpedia's Candidate Connection survey in 2024. Click here to read the survey answers.
Biography
Stacy Garrity was born in Pennsylvania.[1] Garrity served in the U.S. Army in Operation Desert Storm in 1991, Operation Iraqi Freedom in 2003, and Operation Enduring Freedom in 2008. She was awarded two Bronze Stars and a Legion of Merit for these deployments, and retired from the U.S. Army Reserve at the rank of colonel. She also worked as a cost accountant and then a vice president for Global Tungsten & Powders Corp., a global supplier of refractory powders.
Garrity is a graduate of Sayre High School in Bradford County, Pennsylvania. She has a B.A. in finance and economics from Bloomsburg University of Pennsylvania and a certification from the Cornell University Business Management Institute. She has been a board member of the Bradford County United Way and the Guthrie Robert Packer Hospital in Sayre. She is married to Daniel Gizzi and attends the Christian Life Church.[2]
2024 battleground election
- See also: Pennsylvania Treasurer election, 2024
Ballotpedia identified the November 5 general election as a battleground race. The summary below is from our coverage of this election, found here.
Incumbent Stacy Garrity (R) defeated Erin McClelland (D) in the general election for Pennsylvania Treasurer on November 5, 2024.[3][4]
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."[5]
Garrity was first elected in 2020, defeating incumbent Joseph Torsella (D) 48.7% to 47.9%. At the same time, Joe Biden (D) defeated Donald Trump (R), 50.0% to 48.8%. Muhlenberg College political scientist Chris Borick attributed this to "the Pennsylvania electorate seeking to hedge a bit — which isn’t, by the way, alien territory for us."[6] To read more about how Pennsylvania state executives did in 2020 in comparison to the presidential race, click here. Click here for the results of other state executive offices.
Before her election, Garrity served in the U.S. Army Reserve for 30 years.[7] She was also vice president for Global Tungsten & Powders.[8] Garrity campaigned on her record in office and focused on what she said was her office's record of returning unclaimed property. She said, in 2023, her office returned "more unclaimed property than had ever been returned by a treasurer in a single year... since 1993."[9] She also focused on her support for "a tax-deductible 401k-style retirement savings program for Pennsylvanians not currently covered by pensions or other retirement savings vehicles."[10]
McClelland was a businesswoman and mental health counselor.[11] Spotlight PA's Jannelle Andes, Genevieve Hartnett, Alaysia Lane, Bill Meincke, and DJ Waller wrote that 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."[5] McClelland said she wanted to "take on the issue of cyber-security, ...We must establish a shared-learning process, an alert system and constant training..."[12] She 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."[13]
The purchase of Israeli bonds became an issue in this race. On October 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."[14] Garrity said that the bonds were a good investment because they "pay above-market returns and they’ve never defaulted."[15] McClelland 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."[13] McClelland also said that there were "too many factors when you’re dealing with a foreign country that you cannot control for," as a reason why she opposed purchasing these bonds.[13]
Garrity raised $833,529 and spent $398,679, and McClellan had raised $122,476 and spent $55,930. To read more about campaign finance reports, click here.
This was one of five statewide elections in Pennsylvania alongside elections for president, U.S. Senate, attorney general, and auditor. To read more about Pennsylvania's elections in 2024, click here.
Pennsylvania is one of 48 states that has a treasurer and one of 10 states that held an election for treasurer in 2024. Heading into the election, 12 states had a Democratic treasurer, 24 states had a Republican treasurer, and 12 states had a nonpartisan treasurer.
Elections
2024
See also: Pennsylvania Treasurer election, 2024
General election
General election for Pennsylvania Treasurer
Incumbent Stacy Garrity defeated Erin McClelland, Nickolas Ciesielski, Troy Bowman, and Chris Foster in the general election for Pennsylvania Treasurer on November 5, 2024.
Candidate | % | Votes | ||
| ✔ | Stacy Garrity (R) | 52.1 | 3,455,239 | |
| Erin McClelland (D) | 45.4 | 3,011,751 | ||
| Nickolas Ciesielski (L) | 1.4 | 96,079 | ||
 | Troy Bowman (Constitution Party) | 0.6 | 39,395 | |
| Chris Foster (Forward Party) | 0.4 | 25,512 | ||
| Total votes: 6,627,976 | ||||
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Democratic primary election
Democratic primary for Pennsylvania Treasurer
Erin McClelland defeated Ryan Bizzarro in the Democratic primary for Pennsylvania Treasurer on April 23, 2024.
Candidate | % | Votes | ||
| ✔ | Erin McClelland | 54.0 | 547,345 | |
| Ryan Bizzarro | 45.5 | 461,905 | ||
| Other/Write-in votes | 0.5 | 5,278 | ||
| Total votes: 1,014,528 | ||||
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Withdrawn or disqualified candidates
- Alan Butkovitz (D)
Republican primary election
Republican primary for Pennsylvania Treasurer
Incumbent Stacy Garrity advanced from the Republican primary for Pennsylvania Treasurer on April 23, 2024.
Candidate | % | Votes | ||
| ✔ | Stacy Garrity | 99.3 | 853,284 | |
| Other/Write-in votes | 0.7 | 5,658 | ||
| Total votes: 858,942 | ||||
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Campaign finance
Endorsements
Ballotpedia did not identify endorsements for Garrity in this election.
2020
See also: Pennsylvania Treasurer election, 2020
General election
General election for Pennsylvania Treasurer
Stacy Garrity defeated incumbent Joseph Torsella, Joseph Soloski, and Timothy Runkle in the general election for Pennsylvania Treasurer on November 3, 2020.
Candidate | % | Votes | ||
| ✔ | Stacy Garrity (R) | 48.7 | 3,291,877 | |
| Joseph Torsella (D) | 47.9 | 3,239,331 | ||
| Joseph Soloski (L) | 2.2 | 148,614 | ||
| Timothy Runkle (G) | 1.2 | 81,984 | ||
| Total votes: 6,761,806 | ||||
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Democratic primary election
Democratic primary for Pennsylvania Treasurer
Incumbent Joseph Torsella advanced from the Democratic primary for Pennsylvania Treasurer on June 2, 2020.
Candidate | % | Votes | ||
| ✔ | Joseph Torsella | 100.0 | 1,381,763 | |
| Total votes: 1,381,763 | ||||
| If you are a candidate and would like to tell readers and voters more about why they should vote for you, complete the Ballotpedia Candidate Connection Survey. | ||||
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Republican primary election
Republican primary for Pennsylvania Treasurer
Stacy Garrity advanced from the Republican primary for Pennsylvania Treasurer on June 2, 2020.
Candidate | % | Votes | ||
| ✔ | Stacy Garrity | 100.0 | 1,047,510 | |
| Total votes: 1,047,510 | ||||
| If you are a candidate and would like to tell readers and voters more about why they should vote for you, complete the Ballotpedia Candidate Connection Survey. | ||||
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Campaign finance
2019
See also: Pennsylvania's 12th Congressional District special election, 2019
General election
Special general election for U.S. House Pennsylvania District 12
Fred Keller defeated Marc Friedenberg in the special general election for U.S. House Pennsylvania District 12 on May 21, 2019.
Candidate | % | Votes | ||
| ✔ | Fred Keller (R) | 68.1 | 90,000 | |
| Marc Friedenberg (D) | 31.9 | 42,195 | ||
| Total votes: 132,195 | ||||
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Democratic convention
The Democratic convention was canceled. Marc Friedenberg advanced from the special Democratic convention for U.S. House Pennsylvania District 12.
Republican convention
Special Republican convention for U.S. House Pennsylvania District 12
Fred Keller defeated Malcolm Derk, Stacy Garrity, Chris Hoffman, and Joseph Moralez in the special Republican convention for U.S. House Pennsylvania District 12 on March 2, 2019.
Candidate | ||
| Malcolm Derk (R) | |
| Stacy Garrity (R) | ||
| Chris Hoffman (R) | |
| ✔ | Fred Keller (R) | |
| Joseph Moralez (R) | |
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Withdrawn or disqualified candidates
- Jeff Wheeland (R)
Campaign themes
2024
Ballotpedia survey responses
See also: Ballotpedia's Candidate Connection
Stacy Garrity completed Ballotpedia's Candidate Connection survey in 2024. The survey questions appear in bold and are followed by Garrity's responses. Candidates are asked three required questions for this survey, but they may answer additional optional questions as well.
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Stacy Garrity, a decorated combat veteran and business pioneer, is rooted in the values of the place she was born and raised.
Stacy graduated from Sayre High School and then earned a degree in finance and economics from Bloomsburg University of Pennsylvania. She would go on to receive a certificate from The Cornell University Business Management Institute.
While serving in the U.S. Army Reserve, Stacy began a business career as a cost accountant for Global Tungsten & Powders Corp. She worked her way up in the company’s ranks to become one of the first female vice presidents at Global.
She also serves on the board of Bradford County United Way and is a trustee of Guthrie Hospital.
Stacy’s service in the Army Reserve brought her to national attention. Amid scandals about prisoner abuse at other facilities, the national media highlighted her stellar performance as one of the officers in charge of an internment camp for enemy combatants in Iraq.
Iraqis dubbed her “the Angel of the Desert” when her service at Camp Bucca in Southern Iraq resulted in a perfect record. She kept the camp secure and American troops safe without a single complaint of abuse from Iraqi soldiers interned there during her command.
Stacy served a remarkable three deployments in defense of America. She was awarded the Bronze Star twice for exceptional service and received the Legion of Merit before retiring from the Army Reserve with the rank of colonel.
- OPENING THE BOOKS Transparency is the foundation of our democracy. Taxpayers have a right to know how state government functions and how it spends their tax dollars. There is no excuse for anything less than 100 percent transparency. Prior to Stacy’s tenure, the treasurer’s office received a C rating from the non-profit U.S. division of the Public Interest Research Groups. Since taking office in January 2021, Stacy has prioritized increasing government transparency. She revamped the Treasury’s transparency portal, a website where any Pennsylvanian can go online and see how their taxpayer dollars are being spent.
- RETURNING MONEY TO ITS OWNERS Unclaimed property – more than $4.5 billion in everything from undelivered paychecks to military decorations – sat in a massive vault in the Pennsylvania Treasury. Stacy Garrity set out to return that property to its rightful owners. Stacy set a new record returning nearly $274 million to more than 174,000 Pennsylvania citizens in the fiscal year ending June of 2023. That included 87 military decorations that belonged on the chests of our veterans, not in a box inside a vault. She has advocated for legislation to make it easier for Treasury to return property and intends to aim for another record year returning to Pennsylvanians the wealth they earned.
- PUTTING PENNSYLVANIANS FIRST Integrity, dedication, and an unwavering commitment to Pennsylvania and its people are Stacy Garrity’s daily motivations. She doesn’t talk the talk, she walks the walk - literally. Following through on a day one pledge, Stacy has visited all of Pennsylvania’s 67 counties every year. As your Treasurer, Stacy knows how important it is to meet people where they are and offer real solutions, not just empty rhetoric. With a second term ahead, she will keep that promise one county at a time.
Stacy is most passionate about her role as Pennsylvania's Fiscal Watchdog.
As with many public offices, I believe that the discipline I acquired as a member of the United States military, in which I rose to the rank of colonel, provides an important
insight into work-ethic and sense of public service. As such, military experience, while not absolutely necessary, has provided an important quality to the leadership I have worked to bring to this office.
While investment obligations are paramount, it is also the duty of the Treasurer to ensure that so-called “unclaimed” property – ranging from uncashed paychecks to
military decorations – are returned to their rightful owners. As Treasurer, I have returned record amounts of abandoned property from the Treasury’s vault, and have worked to enact legislation to make these returns less burdensome for taxpayers and a proactive
duty for the Treasury.
The Treasurer also acts as a member of the board of the two largest state retirement systems. In that role, I have joined with members of the other party to make certain that these funds invest strategically and more wisely, and I have called out cases of waste in the operation of these systems, contributing to a change of leadership in both systems.
Note: Ballotpedia reserves the right to edit Candidate Connection survey responses. Any edits made by Ballotpedia will be clearly marked with [brackets] for the public. If the candidate disagrees with an edit, he or she may request the full removal of the survey response from Ballotpedia.org. Ballotpedia does not edit or correct typographical errors unless the candidate's campaign requests it.
2020
Stacy Garrity did not complete Ballotpedia's 2020 Candidate Connection survey.
2019
Ballotpedia survey responses
See also: Ballotpedia's Candidate Connection
Stacy Garrity did not complete Ballotpedia's Candidate Connection survey.
Issues
ESG
| Environmental, social, and corporate governance |
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As treasurer, Garrity took positions in opposition to environmental, social, and corporate governance (ESG), an approach to investing and corporate decision-making.
State financial officers, including treasurers, auditors, and controllers, are responsible for auditing other government offices, managing payroll, and overseeing pensions. In some states, certain SFOs are also responsible for investing state retirement and trust funds.
Letter to John Kerry regarding banking access for energy firms (May 2021)
Garrity was one of fourteen other state treasurers who co-signed a May 2021 letter sent by West Virginia State Treasurer Riley Moore (R) to Special Presidential Envoy for Climate John Kerry (D). The treasurers informed Kerry of their concern that he and others in President Joe Biden’s (D) administration were “privately pressuring U.S. banks and financial institutions to refuse to lend to or invest in coal, oil, and natural gas companies, as part of a misguided strategy to eliminate the fossil fuel industry in our country.” The signatories told Kerry that they “strongly oppose the Biden Administration’s efforts to cut off financing for law-abiding industries that are essential to the economy and our citizens’ way of life.”[16]
According to a March 12, 2021, Politico story referenced in the letter, Kerry was “prodding major U.S. banks privately to announce commitments for climate-friendly finance.” The report also revealed that the Biden administration and several climate policy groups held a March 9, 2022, teleconference to discuss “potential financial sector regulations and executive actions to limit risk from climate change-fueled shocks.” Politico listed representatives from the following groups as participants on the call: the Center for American Progress, Public Citizen, Rainforest Action Network, Sierra Club and 350.org.[17][16]
Asked to explain her decision to sign the letter, a spokesperson for Garrity said she “is strongly opposed to the Biden administration’s efforts to pressure financial institutions into divesting from coal, oil, and natural gas companies.”[18]
Use of state law to penalize Ben & Jerry’s for anti-Israel policy (July 2021)
A 2016 Pennsylvania law prohibits the state from contracting with firms that impose economic boycotts against Israel. In July 2021, Garrity announced she supported use of the law against Ben & Jerry’s, after the American ice cream maker announced it was ending sales of its products in the “occupied Palestinian territory.” Then-Israeli Prime Minister Naftali Bennett said the decision had turned Ben & Jerry’s into the “anti-Israel ice cream.”[19]Cite error: Invalid <ref> tag; invalid names, e.g. too many
“As the General Assembly stated in Act 163 of 2016, Israel is America’s dependable, democratic ally – and it is in the interest of the United States and Pennsylvania to stand with Israel by promoting trade and commerce, and to discourage policies that disregard that interest,” said Garrity. “Treasury will continue to thoroughly review every disbursement to ensure that Act 163 is followed.”
Implementation of Act 163 against Ben & Jerry’s was also supported by future Pennsylvania Gov. Josh Shapiro (D), who was then the Attorney General of Pennsylvania.Cite error: Invalid <ref> tag; invalid names, e.g. too many
Ben & Jerry’s is a subsidiary of Unilever, PLC, a publicly traded multinational consumer products conglomerate.
In June 2022, Unilever announced it was selling the Israeli rights to the ice cream to American Quality Products (AQP), allowing sales to resume in Israel under the new label. In a Twitter statement, Ben & Jerry’s expressed its disagreement with the policy change: “While our parent company has taken this decision, we do not agree with it. Unilever’s arrangement means Ben & Jerry’s in Israel will be owned and operated by AQP. Our company will no longer profit from Ben & Jerry’s in Israel.”[20]
Opposition to Federal Reserve Bank appointee (January 2022)
In January 2022, Garrity was one of 25 members of the State Financial Officers Foundation (SFOF) who co-signed a letter to President Joe Biden, asking him to withdraw the nomination of Sarah Bloom Raskin to the Federal Reserve Bank Board of Governors.[21]
In a May 2020 New York Times commentary titled “Why Is the Fed Spending So Much Money on a Dying Industry?,” Raskin wrote that Federal Reserve policy decisions should oppose investments in fossil fuels and support investments in the renewable energy sector: “The decisions the Fed makes on our behalf should build toward a stronger economy with more jobs in innovative industries — not prop up and enrich dying ones.”[22]
Garrity and the signatories on the SFOF letter wrote that they were concerned Raskin “would use the supervisory authority as Vice-Chair for Supervision at the Federal Reserve Bank to disrupt the private banking sector, reliable energy supplies, and the U.S. economy.”[21]
“This nominee is a risk to reliable energy companies and the millions of people who are employed by them here in Pennsylvania and across the country,” said Garrity, in a separate news release. “She has claimed that the fossil fuel industry is a ‘dying industry’ and actively worked against it. Meanwhile, the Energy Information Administration’s preliminary data for 2020 shows that energy produced from petroleum, natural gas, and coal accounted for about 79% of total U.S. primary energy production. These energy industries are critical to our nation’s economy, and it’s clear that Ms. Raskin is not the right person to serve in this position. If President Biden doesn’t withdraw the nomination, the Senate should swiftly reject it.”[23]
In March 2022, Raskin withdrew her name from consideration for the Federal Reserve position.[24]
Support for lawsuit to keep Pennsylvania out of Regional Greenhouse Gas Initiative (May 2022)
In May 2022, Garrity issued a statement in support of a lawsuit filed by energy firms and labor unions against the Pennsylvania Department of Environmental Protection’s Environmental Quality Board (EQB). The lawsuit was filed to block the implementation of the state’s entry into the Regional Greenhouse Gas Initiative (RGGI).[25]
The RGGI is an agreement among states in the Eastern United States to cap and reduce carbon emissions. Energy utilities in these states that generate electricity from carbon emitting sources would be required to purchase one carbon allowance for each short ton of carbon they emit. RGGI is a market-adjusted tax whereby the energy firms must bid against each other on the allowances they wish to purchase at quarterly auctions. The number of allowances would be reduced over time, which theoretically incentivizes electricity producers to reduce their carbon emissions or pay steeper prices for fewer allowances made available on the market.[26]
“RGGI is a massive, illegal tax disguised as a regulation,” Garrity said, according to the news release. “If it’s allowed to be implemented, energy prices for every Pennsylvanian will skyrocket – and thousands of our good, family-sustaining jobs will be lost. The Wolf administration is trying to use the regulatory process to avoid seeking legislative approval for its scheme to impose limits on the operation of electric generators. But our state constitution is clear: The power of taxation belongs to the General Assembly, not to the unelected and unaccountable members of the EQB. I’m proud to stand with our energy companies and the unions who represent many thousands of hardworking Pennsylvanians.”
“The taxes imposed by these unlawful regulations will directly harm miners, electrical workers, welders and fabricators,” Garrity added. “Once lost, these jobs may never return. The Court should act quickly to prevent irreparable harm done to Pennsylvania’s electric generation industry and its thousands of workers.”
The news release also claimed that a Fall 2021 report from the state’s Independent Fiscal Office had shown carbon emissions in Pennsylvania state had fallen by 37% over the prior decade “without the regulatory burden of RGGI.”[25]
Noteworthy events
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| Coronavirus pandemic |
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On October 14, 2020, Garrity's campaign announced she had tested positive for coronavirus.[27]
See also
2024 Elections
External links
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Candidate Pennsylvania Treasurer |
Officeholder Pennsylvania Treasurer |
Personal |
Footnotes
- ↑ Information submitted to Ballotpedia through the Candidate Connection survey on March 25, 2024
- ↑ Office of the Pennsylvania Treasurer, “Stacy Garrity,” accessed December 11, 2022
- ↑ The New York Times, "Pennsylvania Election Results," accessed November 6, 2024
- ↑ Decision Desk HQ, "PA Treasurer General Election," accessed November 6, 2024
- ↑ 5.0 5.1 Spotlight PA, "Pa. election 2024: Your guide to the primary candidates for treasurer," accessed August 10, 2024
- ↑ Penn Live, "After Biden, Pennsylvania’s blue wave crashed into a red wall; how did GOP hold the line below Trump?" accessed August 26, 2024
- ↑ PoliticsPA, "A conversation with State Treasurer Stacy Garrity," accessed August 10, 2024
- ↑ Stacy Garrity for PA, "Meet Stacy," accessed August 15, 2024
- ↑ The Tribune-Democrat, "PA Treasurer Garrity to make campaign stop in Cambria," accessed August 11, 2024
- ↑ Stacy Garrity for Treasurer, "Issues," accessed August 11, 2024
- ↑ Erin McClelland for Treasurer, "About Erin," accessed August 11, 2024
- ↑ WESA, "Voter guide to the Pennsylvania treasurer Democratic primary: Bizzarro v. McClelland," accessed August 11, 2024
- ↑ 13.0 13.1 13.2 WHYY, "Treasurer Stacy Garrity’s decision to invest more Pa. money in Israel Bonds draws protest, Democratic opposition," accessed August 13, 2024
- ↑ Pennsylvania Treasurer's office," accessed August 13, 2024
- ↑ Pittsburgh Jewish Chronicle, "Israel Bonds divide Pennsylvania treasurer race," accessed August 13, 2024
- ↑ 16.0 16.1 West Virginia Office of the State Treasurer, “Letter from Riley Moore to Special Presidential Envoy for Climate John Kerry,” May 25, 2021
- ↑ Politico, “Kerry to Wall Street: Put your money behind your climate PR,” March 12, 2021
- ↑ Natural Gas Intelligence, “Resource-Rich States Push Back Against Making Fossil Fuel Companies Finance Pariahs,” December 21, 2021
- ↑ Jewish News Service, “Ben & Jerry’s to freeze ice-cream sales in ‘occupied Palestinian territory,’” July 19, 2021
- ↑ Jewish News Service, “Unilever reaches deal with Ben & Jerry’s Israel to end boycott,” June 29, 2022
- ↑ 21.0 21.1 State Financial Officers Foundation, “Letter to President Joe Biden from State Financial Officers Foundation.” January 31, 2021
- ↑ CNBC, “Republicans grill Fed nominee Raskin over past views on climate and big energy companies,” February 3, 2022
- ↑ Office of the Pennsylvania Treasurer, “Treasurer Garrity Calls on President Biden to Withdraw Nominee for Vice-Chair for Supervision at the Fed,” February 2, 2022
- ↑ New York Post, “Sarah Raskin withdraws Federal Reserve nomination after Joe Manchin blocks Biden pick,” March 15, 2022
- ↑ 25.0 25.1 Office of the Pennsylvania Treasurer, “Treasurer Garrity Supports Lawsuit Opposing RGGI,” May 18, 2022
- ↑ The Regional Greenhouse Gas Initiative, "Fact Sheet," accessed December 11, 2022
- ↑ Post Gazette, "State treasurer candidate Stacy Garrity tests positive for COVID-19," October 14, 2020
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