Somebody has to hold Delaware's wallet. The state treasurer watches the state's investments and bank accounts, manages the money Delaware borrows, and runs the programs that help Delaware families save — for college, for retirement, for a disabled child's future. On Tuesday, November 3, that office changes hands no matter what: for the first time in eight years, the incumbent's name is not on the ballot.
Colleen Davis, elected in 2018 and re-elected in 2022, chose not to seek a third term, so the seat is open. The treasurer is the state's chief financial officer — the office oversees state investments and banking services, manages state debt, and administers savings and financial-security programs including the DE 529 college savings plan, the EARNS retirement program, ABLE accounts and the Stand By Me financial coaching program. Exactly two names are printed on the ballot.
The Democratic nominee is Ted Lauzen of Wilmington, a first-time candidate for the office. Lauzen flew light attack helicopters in combat for the U.S. Marine Corps, then earned an MBA from the Wharton School and a law degree from the University of Pennsylvania. He co-founded an investment management firm and serves as treasurer of the Delaware YMCA. He won the September 15 Democratic primary — a three-way race against Mike Miller and Michael A. Smith — with 45.3 percent of the vote, carrying the state party's endorsement.
His argument is that the treasurer's job is the job he already does. "I have the privilege and the opportunity to do on a day-to-day basis what the treasurer does — specifically what the treasurer does," he told Delaware Online. "And so, it's the chance to do what you're really good at for the benefit of others." His platform includes protecting Delaware's AAA credit rating, updating the state's debt policies, leading oversight and transparency efforts, partnering with Delaware's 57 towns and municipalities on financial best practices, and expanding the office's savings and support programs. "I will work hard to expand access to financial literacy and support programs such as the Stand-by-Me program, the DE 529 plan, the EARNS program, and the ABLE plan," he wrote. "These programs can play an essential role in helping families save for college, prepare for retirement, and strengthen their long-term financial well-being."
The Republican nominee is Mike Ramone of Newark, who won his party's nomination without a primary opponent. Ramone is a businessman and entrepreneur who represented the Pike Creek area's District 21 in the Delaware House of Representatives from 2008 to 2024, rising to House minority leader and serving on the administration, ethics, rules and veterans affairs committees. He gave up the House seat in 2024 to run for governor and lost that race to Matt Meyer by 12.2 percentage points.
Ramone describes himself as more of a solutionist than a statesman. "I'm not a politician. I'm a problem solver," he told The News Journal, calling himself a "people person." His campaign lists nine issues he would tackle as treasurer: protecting Delaware's corporate franchise revenue, maintaining the state's creditworthiness, reining in state spending, serving as an independent check on Delaware government, demanding financial transparency, ensuring program accountability, safeguarding the independence of the Delaware Economic and Financial Advisory Council — the body that produces the state's official revenue forecasts — elevating economic competitiveness, and maximizing investment returns.
Voting in this race is already underway. Early voting opened Thursday, October 22 and runs through Sunday, November 1 at any early voting site in your county — for Kent County readers, the closest sites are Dover's Elks Lodge on South Saulsbury Road and Wyoming United Methodist Church, with more in Frederica and Harrington. Sites are open 7 a.m. to 7 p.m. through October 27 (no voting Sunday, October 25), then 11 a.m. to 7 p.m. from October 28 through November 1. Election Day is Tuesday, November 3, with polls open 7 a.m. to 8 p.m. at your assigned polling place. Your sample ballot and polling place are at the state's voter portal, ivote.de.gov.
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