Former Oakland Mayor Libby Schaaf has announced her intention to run for state treasurer of California in 2026.
Schaaf, best known for her time as mayor of Oakland, intends to solve pressing concerns such as homelessness and affordable housing. Her strategy is simplifying the process of allocating public cash to these critical regions.
Schaaf’s arrival into the campaign, with a focus on practical solutions, adds a considerable aspect to the impending election.
Vacancy Opens As Current Treasurer Runs for Lieutenant Governor
The position of state treasurer is poised to fall vacant as incumbent Fiona Ma, a Democrat in office since 2019, has decided to compete for lieutenant governor in 2026.
Ma’s decision creates a significant position in California’s political scene. The treasurer’s position, which Democrats have controlled for the past 25 years, is critical in handling the state’s finances, including its investment portfolio and pension funds.
Schaaf’s Vision: Efficiency and Accessibility
Schaaf is the first candidate to announce her candidacy for this available job. Her agenda includes using the treasurer’s position to promote affordable housing, improve access to higher education for low-income families, and advocate for environmentally sustainable infrastructure.
One essential component of her strategy is to streamline the state’s complicated variety of housing funding schemes, with the goal of increasing efficiency and effectiveness.
Schaaf’s experience as mayor and other jobs in government provides her with a unique perspective on the state’s difficulties and potential solutions.
Background and Political Journey
Schaaf, an Oakland native, was mayor from 2015 until her tenure expired last year. She also served on the Oakland City Council, where she collaborated closely with former Gov. Jerry Brown and former City Council President Ignacio De La Fuente.
Despite encountering problems as mayor, Schaaf points to various accomplishments, including educational efforts and help for low-income citizens.
Her experience as mayor with financial management, particularly in raising Oakland’s credit rating, is a pillar of her candidacy for treasurer.
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Competitive Landscape and Potential Rivals
The contest for treasurer is anticipated to be robust, with probable candidates including former Assembly Speaker Anthony Rendon and Assemblymember Phil Ting showing interest.
Former Oakland Mayor Libby Schaaf will run for California treasurer https://t.co/2LPGAQkOX9
— POLITICO (@politico) January 11, 2024
These contenders have already begun fundraising efforts, indicating that the field may be crowded. Schaaf’s early announcement and clear vision for the post might pave the way for an exciting and widely observed campaign.
Schaaf’s Endorsements and Future Plans
Among Schaaf’s early supporters are former Senator Barbara Boxer and Sacramento Mayor Darrell Steinberg.
Her intentions include fighting for greater utilization of bond funding and federal tax credits for housing developments, as well as continuing her public service work with an emphasis on bringing practical benefits to Californians.