AUGUSTA, Maine — Two veteran Democrats in the Maine Legislature are facing off in the race for state treasurer, as incumbent Henry Beck steps down after three terms.
The position oversees an office that provides financial and banking services to state agencies, manages investments, and distributes unclaimed funds to Maine residents.
State Rep. Joe Perry of Bangor is running against outgoing House Majority Leader Maureen Terry of Gorham, who is term-limited and cannot keep her current role in the new legislative session. Both candidates are business owners and have served as chairs of the Taxation Committee in the Legislature.
Perry made a late entrance in the race — a decision made in part to create competition for the office.
“Most of these races, the Legislature wants to see a contested race,” Perry said Monday. “They don’t want it to just be handed to any one person. So, it’s good for the process to have two of us running.”
On Wednesday, after the Maine Legislature is sworn in, a joint vote by the House and Senate will decide who becomes state treasurer. If chosen, Perry hopes to bring a spirit of transparency to the job.
“I would want to make this the most visible treasurer’s office that there’s been, in a way we can really relate to the public,” Perry said.
Terry, for her part, is intent on drawing upon the fiscal knowledge she has gained in the Legislature if elected Treasurer.
“I feel like we’re in a very strong financial position, and I hope to use my experience from the legislature in the treasurer’s office in keeping that financial stability as strong as possible,” Terry said. “I would use as many resources as humanly possible.”
With a Democratic majority in both the Maine House and Senate, Terry or Perry could theoretically ride into office on just the support of their own party.
But the GOP is complicating the equation. While the party hasn’t publicly named a candidate for state treasurer, Perry, a Democrat, says he has backing from across the aisle.
“The Republicans have reached out to me and been very supportive,” Perry said.
If that proves true, Perry would have to secure a much smaller share of Democrats to win the position.
But Perry is committing to only going forward in his bid for the office if he wins the Democratic nomination, which will be decided during a closed-door meeting on Tuesday.
“If I lose in the Democratic caucus, I’m out of the race,” he explained.
Terry, who said she spent much of the weekend on the phone with legislators, has, by her own account, received a warm reception to her candidacy for State Treasurer.
“I told some folks ahead of time and they’ve all been very supportive,” Terry said. “I’ve had some really great conversations over the past couple of days.”
Terry did not specify how many Republican lawmakers she has contacted about her candidacy.