McClatchy endorses Eleni Kounalakis for California treasurer. Here's what to know

The Sacramento Bee Editorial Board has endorsed Lt. Gov. Eleni Kounalakis in California’s state treasurer race. The race features two strong Democrats — Kounalakis and state Sen. Anna Caballero — along with four other candidates.

FULL STORY: In the election for state treasurer, McClatchy endorses a Sacramento leader | Opinion

Here are key takeaways:

• The candidates: The race includes Democrats Kounalakis, Caballero and Tony Vazquez; Republicans Jennifer Hawks and David Serpa; and Green Party candidate Glenn Turner. The Bee says the four others don’t match the qualifications of Kounalakis and Caballero.
• Kounalakis’ background: At 60, she made history in 2018 as the first woman elected lieutenant governor of California. She previously served as U.S. Ambassador to Hungary under President Obama and began her career at her father’s Sacramento firm, AKT Development.
• Why the role matters: The treasurer safeguards California’s financial health and credit rating, oversees the state Pooled Money Investment Account and CalPERS, and influences financing for housing, infrastructure, rural healthcare and higher education.
• Her priorities: Kounalakis supports exploring public banking to help low-wage earners avoid bank fees, has advanced offshore wind development as a lands commissioner and pushed for expanded on-campus student housing as a UC regent and CSU trustee.
• Tuition stance: In November, she was one of just three CSU regents to vote against annual tuition increases, citing students who sleep in cars and rely on food banks.

The summary points above were compiled with the help of AI tools and edited by journalists. The full story in the link at top was reported, written and edited entirely by journalists.

This story was originally published June 1, 2026 at 2:08 PM.