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Candidates for Pennsylvania Treasurer Clash over Campaign Finance and Investments | Politics, Finance

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The Democratic challenger operating for state treasurer is asking for extra transparency from her Republican incumbent opponent whereas being accused of making conspiracy theories and unable to precisely full a marketing campaign finance report.

The race to be custodian of the commonwealth’s cash is heating up because the Nov. 5 common election nears. The two main celebration candidates — incumbent GOP Stacy Garrity and Democrat Erin McClelland — engaged in some political sparring this week.

McClelland mentioned she needs to take part in a public debate with Garrity to air out points that contain the state Treasury. But she mentioned Garrity refused the 2 televised debate requests making it look like “the only person in the race for treasurer she believes should be held accountable is me.”

Garrity’s marketing campaign spokesman Dennis Roddy responded, “When Erin McClelland can get her own house in order then we can talk about a conversation in public. At this point, she’s not a serious candidate. She is at most a serious nuisance.”

He was referring to a discrepancy that was observed in McClelland’s newest marketing campaign finance submitting that has Garrity’s marketing campaign contemplating calling for an audit.

It observed McClelland’s marketing campaign finance submitting included two $10,000 contributions from the International Brotherhood of Electrical Workers Local 5’s political motion committee, each of which have been dated July 9.

McClelland mentioned a kind of checks got here in shortly after the April main but it surely wasn’t deposited in her marketing campaign account till July when a second $10,000 contribution from that very same PAC was acquired.

She reported the primary $10,000 contribution in her post-primary submitting submitted in May however upon recommendation from her monetary advisers, determined to incorporate it in her most up-to-date submitting to mirror the date she deposited the cash in her account. She then amended her earlier submitting to mirror that change.

“I think it reflects on my ability to handle records meticulously to the point that we were willing to say everything else was reported on predominantly a cash basis and this one check went in on an accrual basis and we corrected that,” McClelland mentioned.

“There was never any misinformation. The donation was reported. We simply moved it to the cycle in which it was deposited instead of when it was received.”

The Department of State advises candidates to report contributions when they're acquired, mentioned division spokesman Matt Heckel.

McClelland’s clarification doesn’t sq. with Roddy however apart from that, he mentioned it means McClelland possessed a $10,000 uncashed test for two months.

“If she is leaving $10,000 checks laying around uncashed, people ought to worry about the idea of her watching the Treasury,” he mentioned.

This isn’t the primary time McClelland has discovered herself in disputes over her marketing campaign finance filings.

Democratic celebration supporters accused McClelland of demonstrating a sample of marketing campaign violations in her prior runs for different public workplaces. However, investigations into these claims by the state legal professional common’s workplace and the Department of State resulted in no prices being filed.

McClelland accuses Garrity’s marketing campaign of constructing “accusations of campaign finance impropriety in order to deflect attention from her alarming foreign investments of taxpayer dollars.”

In a campaign video on social media, McClelland blasts her opponent for investing commonwealth funds, particularly faculty workers’ pension {dollars}, within the Saudi Arabian Stock Exchange.

“That is not what we should be doing with our state dollars,” she mentioned within the advert.

Officials from the Public School Employees’ Retirement System, the State Employees’ Retirement System and the Pennsylvania Municipal Retirement System mentioned their plans don't have any direct funding within the Saudi inventory trade however have restricted oblique publicity to Saudi Arabia via commingled funding of funds.

McClelland isn’t satisfied. She shared a custodial agreement with the Bank of New York Mellon to speculate pension funds within the Saudi inventory trade that Garrity, amongst others signed. She mentioned she needs to know extra about that contract, why it exists, and if any pension funds are invested in Aramco, the state-owned oil firm of Saudi Arabia that helps its crown prince who had a task in killing Washington Post columnist Jamal Khashoggi.

Garrity’s marketing campaign supervisor Jim Tkacik mentioned, “Erin McClelland’s Saudi conspiracy theory is further evidence that she has no idea how the state’s pension boards work, nor how treasury functions. … The Saudi Prince theory is the conclusive proof. Stacy Garrity gets her information from experienced financial experts from both sides of the political aisle. Erin McClelland seems to get hers from internet conspiracy sites.”

McClelland mentioned she has different points she’d wish to vet in a debate and appears ahead to her Republican opponent agreeing to 1.

Other candidates vying for the treasurer’s put up are Constitution Party candidate Troy Bowman, Libertarian Nickolas Mark Ciesielski, and Forward Party candidate Christopher Foster.

Jan Murphy could also be reached at jmurphy@pennlive.com. Follow her on X at @JanMurphy.

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