Yee is best GOP bet for treasurer
This race matters because money matters.
The treasurer handles Arizona’s finances, managing an investment portfolio of about $15 billion and making sure funds are available to pay the bills and keep the lights on.
Conventional wisdom says the GOP primary is a slam-dunk for the experienced candidate with the establishment endorsements.
But this is an era of political upsets. Surprises happen.
So pay attention to this race — because a billion-dollar blunder would be hard to fix.
The job may sound as dry as the road to Yuma. But the last two treasurers elevated the political profile considerably.
Doug Ducey leveraged his term as treasurer (elected in 2010) into enough name recognition to win the governor’s race in 2014.
His successor, Jeff DeWit, also a Republican, used the office as a platform to support Donald Trump, who subsequently named DeWit as chief financial officer of NASA.
The current office holder is Eileen Klein, former president of the Arizona Board of Regents. She was appointed by Ducey to finish DeWit’s term. She is not running, so this race is wide open.
Two Republicans in this primary are political newcomer Jo Ann Sabbagh and longtime Arizona lawmaker Kimberly Yee. The winner will face Democrat Mark Manoil in November.
Sabbagh, who moved to Arizona in 1997 from Ohio, runs her own accounting firm in Tucson, and has been active in the community, including as a volunteer campaign treasurer for Republican candidates.
Kimberly Yee, who was born in Arizona, was elected to the Arizona House in 2010, and to the Senate in 2012, where she is now Senate majority leader.
She worked for the administrations of California GOP Govs. Arnold Schwarzenegger and Pete Wilson, and has won national attention as a GOP rising star.
Yee has name recognition and the backing of wealthy GOP donors, including the parent company of Arizona Public Service Co.
Yee has a lock on endorsements, too, with a long list of current and former Republican officeholders supporting her. That includes former state Treasurer Dean Martin, for whom she worked. But don’t snooze through this race. Sabbagh, who is using public campaign funding, embraces her outsider status in this era of outsider politics. She aims sharp elbows and insults at Yee, following a template created by Donald Trump.
Sabbagh invokes Trump’s name frequently in an appeal to GOP primary voters.
Sabbagh says she is concerned about the banks the state uses to do business, and she would like to look into other options. She mentions security breaches at Bank of America and Wells Fargo, saying, “I wouldn’t put my money in either.”
She says she’d like the treasurer to use an Arizona bank, but she’s not sure there is one big enough to handle the job.
Yee wants to create more transparency in the Treasurer’s Office and says it is important to maintain good relationships with the Legislature and the governor because the treasurer can offer an early warning of impending financial troubles.
Yee says that when she worked in the Treasurer’s Office under Republican Martin, he tried to warn Gov. Janet Napolitano that revenue was not coming in as expected, but the Democratic governor ignored these early warnings of the recession that walloped Arizona in 2008.
Sabbagh used much of her interview with The Arizona Republic Editorial Board to insult her opponent, accusing Yee of “lies” and political opportunism.
In a July 11 debate on Arizona PBS, Sabbagh said Yee was part of “the swamp our current president, President Trump, said we need to get rid of.”
Sabbagh comes out swinging, which is not an automatic disqualifier. But the Treasurer’s Office is more about a steady hand than a sharp right cross. Her relentless attacks are disturbing.
What’s more, she has her facts wrong as she runs for an office that demands scrupulous accuracy.
Sabbagh claims she is “the only accountant in Arizona’s 106-year history to run for State Treasurer.” Wrong. Randy Pullen made a point of his credentials as a CPA when he ran against DeWit in the 2014 GOP primary.
Yee maintains her composure under Sabbagh’s attacks and denies Sabbagh’s charge that she wants this office as a political stepping stone.
Yet Yee is an up-and-comer in the GOP. She gained national recognition for her conservative politics and for being the first Asian-American woman elected to the Arizona Legislature. It’s hard to believe she doesn’t have her eye on higher office.
Nevertheless, Yee proved herself to be a conscientious, hard-working lawmaker, and it is reasonable to expect her to bring that same work ethic to the job of treasurer — even if she is planning a run for higher office.
What’s more, Yee showed the gumption to challenge political orthodoxy when she felt it was in the public’s best interest. Her vote to stop a GOP-favored payday-lending bill in Senate is one example of her independence.
Both candidates have real-world experience that would be beneficial in this office.
Yee knows how the Treasurer’s Office operates because she worked there. As a lawmaker, she demonstrated her skills as a competent public servant with integrity.
She says she will use her contacts in the Legislature to get things done in a cooperative manner. But she has shown that she’s no pushover and will push back if necessary.
Sabbagh is largely unknown. Her small-business experience, while valuable, is thin preparation for running a state office with billion-dollar responsibilities.
She’s big on bluster, but the job of treasurer demands thoughtfulness and level-headed judgment.
Despite her criticism of her opponent as a politician, Sabbagh’s hard political edge suggests her administration could be more about politically motivated confrontation than cooperation.
Yee is far better suited by temperament and experience than Sabbagh to assure the Treasurer’s Office is run efficiently and effectively.