Election 2022: State Treasurer Frerichs seeks third term against Republican Demmer

Election 2024
State Treasurer Michael Frerichs, left, and his opponent Tom Demmer are pictured during Illinois State Fair political days in Springfield.

Republican state Rep. Tom Demmer was asking Illinois voters on Tuesday to block Democratic state Treasurer Michael Frerichs from getting a third term in Springfield in one of the more under-the-radar statewide campaigns this election cycle.

Demmer, of Dixon, faced an uphill battle in a state that has overwhelmingly supported Democratic candidates at the ballot box in recent years. Libertarian Preston Nelson also was vying for the office.

Frerichs was out to an early lead Tuesday night. He had 60.9%, to Demmer’s 37.1% and Nelson’s 1.9%, with 11% of the vote counted, according to unofficial totals.

Frerichs was elected state treasurer, which serves as Illinois’ chief investment officer, in 2014 and again in 2018.

As treasurer, Frerichs has taken credit for Illinois having surpassed $1.2 billion in investment interest since he took office. He also points to investments of about $26 billion in state funds, a statewide college savings program, and $15 billion in pooled municipal assets.

“We’ve raised more than a billion dollars for the state of Illinois,” Frerichs said in a recent podcast interview with Capitol News Illinois. “A billion dollars that didn’t have to be raised in taxes or a billion dollars in cuts that didn’t have to be made to things like our schools, our roads and bridges.”

Demmer, the House deputy minority leader, has served in the General Assembly since 2013.

“While our campaign has come up short, our movement has just begun. I congratulate @MikeForIllinois on a hard fought campaign and I wish him the best in his next term,” Demmer posted on Twitter Tuesday night.