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Democrat Ben Westlund holds late lead over Alley

By Jim Witty / The Bulletin

Tumalo Democrat Ben Westlund led in Deschutes County and appeared at midnight to be headed to victory in the race for Oregon state treasurer with 50 percent of the statewide vote counted. Westlund led Republican Allen Alley 51 to 46 percent.

“We’re looking good,” said Westlund. “And I’m honored we won Deschutes County.”

The race received added scrutiny when the economy took a turn for the worse. The last of two debates in mid-October centered on ways the state can weather an expected downturn in tax revenues and how the state should invest its funds in such a challenging climate.

The treasurer directs the investment of billions of dollars in state assets, including the Public Employees Retirement System. While the treasurer has no direct authority on taxation and spending, those who have held the position have had some influence over the Legislature on financial matters.

The candidates differed slightly on setting aside funds in reserve to fall back on when the economy slows. Westlund favored diverting a set percentage from every budget and defended suspension of the corporate income tax kicker last year. The kicker refunds a portion of income taxes to individuals and corporations when revenues exceed projections. In 2007, the Legislature suspended corporate refunds for a year and used the money to set up a rainy day fund.

Both Alley and Michael Marsh of the Constitution Party argued in favor of the kicker refund for individuals and corporations.

After a long stint as a businessman, Westlund ran successfully for the state House as a Republican in 1996. He’s been a state senator since 2004. He staged an unsuccessful independent campaign for governor in 2006, then switched parties to become a Democrat.

Allen co-founded Pixelworks, a high-tech company.

Jim Witty can be
reached at 541-617-7828 or jwitty@bendbulletin.com.