Iowa treasurer’s race goes to the wire

Iowa’s state treasurer race was a dead heat between Republican incumbent Roby Smith and Democratic challenger John Norwood early Wednesday, with most of the vote counted.

Smith had 50.5% of the vote to 49.5% percent for Norwood in unofficial results, with 96% of precincts reporting.

Tuesday’s election saw Democrats sweep most of the top-of-ticket races, including the governor’s office, U.S. Senate, and three of the four congressional districts. Republican incumbents were leading in several of the other statewide races, including secretary of agriculture and secretary of state, but the open state auditor’s race was neck-and-neck and Republican Attorney General Brenna Bird was trailing Democrat Nate Willems.

Smith, a former banker and former state senator from Davenport, touted breaking an “all-time record” in collecting interest on the state’s $10 million “idle money fund,” as well as managing record assets under the $7.25 billion ISAVE 529 program. He said his priority would be to expand on those results.

Norwood, a financial advisor who ran for Iowa secretary of agriculture in 2022, has said if elected, he would prioritize investing state dollars at local banks and credit unions, and supporting new crop markets. He also said he believed the Iowa Public Employees’ Retirement System (IPERS) CEO should be selected by a board rather than by the governor.