Republican State Sen. Roby Smith made a convincing argument for change when discussing his race for State Treasurer. Smith is taking on Democrat Michael Fitzgerald, who has been the treasurer since 1983.
During his time in the Iowa Senate, Smith led the charge on strengthening Iowa’s election integrity. He also worked as a banker for more than a decade, so he is confident he has the experience necessary to serve as treasurer.
More than that, Smith can point to a need for change in the office by highlighting Fitzgerald’s recent track record.
He mentioned Iowa’s 529 program — the college savings program where parents and grandparents can save their tax money tax-free.
“Morningstar out of Chicago rated all 529s in all 50 states,” Smith said. “And guess what? Iowa is downgraded. That’s right, downgraded. You had Missouri ranked higher. You had Nebraska ranked higher. And you had Minnesota ranked higher. And wait, here’s the kicker — Illinois was even ranked higher. I don’t like when my kids lose a little league baseball game to a team from Illinois, let alone them being ranked higher when it comes to something financially.”
A year ago, the IRS proposed a rule stating any transaction over $600 must be reported by banks to the IRS.
“State treasurers from around the country stood up and said, ‘That’s unconstitutional. You can’t do that,'” Smith said. “And what did we hear from our state treasurer? We heard crickets. You heard nothing. You need a state treasurer that’s going to stand up to the IRS and stand up to the federal government. And I will be that state treasurer.”