Arizona has a new state treasurer, and for the first time in more than six decades, he’s a Democrat. Nick Mansour, the former CEO of the Arizona College of Nursing, was projected to defeat Republican Elijah Norton on Thursday, flipping an office that has been firmly in GOP hands for generations and putting him in charge of the state’s multibillion-dollar education endowment.
The Associated Press called the race for Mansour on Thursday, according to KJZZ, which reported that as of 2:50 p.m. that day, Mansour was leading Norton with 53.7% of the vote when the race was called. FOX 10 Phoenix likewise reported Mansour as the projected winner, with Democrats flipping the treasurer’s office for the first time since the 1960s.
The margin looked even wider by the time Arizona Mirror weighed in, reporting that Mansour beat Norton by seven points. The outlet noted that Norton conceded on social media Thursday afternoon and said he had spoken with Mansour about the race earlier in the day, according to Arizona Mirror.
A Six-Decade Republican Hold Comes to an End
Arizona Mirror described the treasurer’s office as having been held by Republicans for decades before Mansour’s victory broke the streak. KJZZ reported that Mansour’s win marks the first time a Democrat will serve as treasurer since the 1960s, and both candidates were first-time contenders for the office, per the same outlet’s reporting.
The last Democrat to actually defeat a Republican for the job was Milton Husky, back in 1962, according to Axios. Two years later, Democrat Bob Kennedy won the seat unopposed in 1964 — a detail Axios says marked the last time the party won the office before Mansour. Arizona Family offered a slightly different account of that era, reporting that Kennedy served as Arizona’s Democratic treasurer from 1965 to 1967, the last time the state had a Democrat in the role, according to Arizona Family.
What Mansour Says He'll Do With the Job
Mansour will take over an office that oversees the state’s $11 billion education endowment fund, a figure he cited while pledging to maximize public school funding without raising taxes, according to KOLD. During a September debate, he proposed shifting the Permanent Land Endowment Trust Fund’s holdings from 60% stocks and 40% fixed income to a more aggressive 80% stocks and 20% bonds, a plan reported by Arizona Mirror.
Norton pushed back hard on that proposal during the debate, arguing it would endanger the state’s funds, per the same Arizona Mirror report. Mansour also said during the debate that he would audit Empowerment Scholarship Account expenses and coordinate with the superintendent’s office to guard against waste or fraud, the outlet noted.
An Open Seat After Term Limits
The office became open this cycle because outgoing Treasurer Kimberly Yee could not run for reelection due to term limits, and Mansour will succeed her once he is inaugurated. Yee ran instead as the Republican candidate for superintendent of public instruction in this year’s election.
