David Crowley’s Wisconsin gubernatorial primary win made national headlines on Tuesday, but further down the ballot, progressives seemingly suffered another loss in the race for State Treasurer.
Yee Leng Xiong defeated Dylan Helmenstine by 15.8 percentage points, ending a race between two candidates with similar visions but different approaches to turning their ideas into statewide change.
The Wisconsin State Treasurer’s Office oversees several state assets, including the unclaimed property program, which looks to return unclaimed property that businesses possess and return it to their rightful owners. The treasurer also serves on the Board of Commissioners of Public Lands, which manages over $1.4 billion in State Trust Funds, many of which support education. The office also serves as an advocate for fiscal responsibility when using Wisconsin taxpayers’ money.
Yee Leng Xiong
Hailing from Wausau, Wisconsin, Xiong served multiple terms on the DC Everest school board, the Marathon county board and as a Village of Weston trustee. Xiong was also an executive director for the nonprofit Hmong American Center in Wausau, where he said he turned a $50,000 debt into a $1.9 million dollar budget.
“I know the challenges that keep our communities up at night,” Xiong told The Daily Cardinal. “I'm a coalition builder and I want to make sure that people have enough not to just get by, but get ahead.”
Xiong centered his campaign around applying fiscal responsibility and smart investment to the role of State Treasurer. Xiong said he hopes to use the position to maintain and grow the Common School Trust Fund, as well as facilitate community infrastructure through trust fund loans.
Different candidates, common Ground
In separate interviews with the Daily Cardinal, both Helmenstine and Xiong agreed that the State Treasurer’s Office should be used to bring more transparency to Wisconsin’s budget. Xiong also advocated for a visual dashboard that would allow Wisconsinites to see the flow of money in the state’s budget.
“I want to make sure that we're holding our elected officials accountable,” Xiong said.
Both also argued that transparency was especially important as communities clash with tech companies looking to build AI data centers.
Helmenstine told the Cardinal he supports a statewide, year-long moratorium on data center development, something Dane County approved in June. Xiong said he will “work with partners across the aisle” to ensure that data centers are strictly regulated in the state of Wisconsin.
While Helmenstine referred to himself as the progressive choice in this race, both Xiong and Helmenstine touted their ability to get progressive ideas accepted in their rural communities.
“There is a reason why I have been voted 13 times with progressive ideas in a ruby red area,” Xiong said. “I'm not gonna wait for us to have a democratic trifecta in order to get things done.”
In a statement provided to the Daily Cardinal, Xiong expressed gratitude for the voters and volunteers that helped his campaign, thanked Helmenstine for his commitment to the party and his values and called for unity in the Democratic party this November.
“I have managed public budgets at every level: school board, county board, village board, and a nonprofit I helped save from closure. I’m ready to do this job. Together, we can make money work for Wisconsin families.” Xiong said in the statement.
