Elect Malia Cohen to be the next state controller to keep California on the right track for progress.
The Position
The state controller acts as the lead fiscal authority for the state of California, which is the fifth-largest economy in the world. The state controller manages an office of 1,400 public servants responsible for the disbursement of financial resources across the state. The state controller’s office oversees audits of funds distributed to state agencies and programs, acts as a steward for unclaimed property that falls to state possession, provides accounting and reporting services for government entities, and manages payroll accounting and data for state employees. The state controller also serves as a policy liaison to a variety of finance organizations, including the state’s two pension funds, CalPERS and CalSTRS, and the California Franchise Tax Board. The state controller is elected for a four-year term and may serve a maximum of two terms in office. This office has traditionally been held by Democrats, and is currently held by two-term Controller Betty Yee. The most recent election results show that Controller Yee won the statewide election in 2018 with 65% of the vote.
The Race
There are four candidates running for this seat, including Democrats Malia Cohen, Yvonne Yiu, and Ron Galperin, and Republican Lanhee Chen. Cohen’s campaign has raised $316,000, and is not funded by police money or corporate PAC money. Democratic opponent Yiu has raised $548,000, of which $455,000 has been self-donated. She has had an additional nine donors to her campaign, and has not received police, corporate PAC, or real estate donations. Democratic opponent Galperin has raised $26,000, and is not funded by police, corporate PAC, real estate, or fossil fuel money. Republican Chen’s campaign has raised $945,000, and has received funding from a real estate organization. The remainder of his fundraising has come almost entirely from large-dollar individual donors.
Our Endorsement
Malia Cohen, a member of the California State Board of Equalization, is a lifelong Californian. According to campaign materials, Cohen is running for election to pursue a more equitable economic foundation for Californians through investments in housing, job programs, health care, and education. She believes that accountability and transparency in fiscal leadership is essential to closing the state’s significant equity gap, and that she can play a critical role in guiding financial decisions that will benefit previously neglected communities.
As controller, Cohen hopes to create a more efficient system to connect unclaimed property to individuals who have ownership rights, streamline financial services for Californians who are unbanked, and create a Golden State Stimulus program that will ensure that residents have the resources they need to cover their basic living expenses.
Cohen has an extensive resume and significant experience in fiscal oversight. As a current member of the California State Board of Equalization representing District 2, Cohen has experience administering statewide policy related to property tax, alcoholic beverage tax, and tax on insurers. Prior to holding this role, she served two terms as a member and president of the San Francisco Board of Supervisors, where she chaired the Budget and Finance Committee. Cohen has also served as commissioner of the San Francisco Employee Retirement System (SFERS), which manages the city’s municipal pension fund. In each of these positions, Cohen has kept equity in focus and has worked to leverage her role to create opportunities to establish more inclusive policies. In her elected roles, she was instrumental in implementing a free community college program in San Francisco, co-authored the Fair Chance Ordinance for individuals reentering the workforce after incarceration, and championed the creation of a Department of Officer Accountability for the San Francisco Police Department. She also worked to divest SFERS investments from fossil fuels and thermal coal investments to bring a more ethical foundation to the pension system. These and other efforts demonstrate her deft ability to use her knowledge and authority to return benefits to communities that have been historically marginalized and disadvantaged by fiscal and public policy.
Democrat Yvonne Yiu, the current mayor of Monterey Park, is running on a platform that centers on financial-information security and expanding financial-skills training to reach young people, immigrants, women, and other diverse communities through the creation of a new Office of Financial Empowerment. While she is dedicated to using the authority of the office to advocate for issues related to climate, the LGBTQIA+ community, and racial injustice, she has not provided a comprehensive outline for how her work as controller would benefit these progressive priorities beyond the creation of the Office of Financial Empowerment.
Malia Cohen has the endorsement of many elected officials in the state, including Congresswoman Karen Bass, current State Controller Betty Yee, State Attorney General Rob Bonta, Secretary of State Dr. Shirley Weber, State Senator Sydney Kamlager, and State Senator Scott Weiner. She has also received the endorsement of some progressive groups in the district, including NARAL Pro-Choice California PAC, California Federation of Teachers, Elect Black Women PAC, and a variety of trade organizations, including UNITE Here PAC. Based on our analysis, Cohen’s track record and policy positions demonstrate that she will be a progressive champion for Californians and will govern effectively in the best interest of this diverse state.
Elect Malia Cohen to be the next state controller to keep California on the right track for progress.
The Position
The state controller acts as the lead fiscal authority for the state of California, which is the fifth-largest economy in the world. The state controller manages an office of 1,400 public servants responsible for the disbursement of financial resources across the state. The state controller’s office oversees audits of funds distributed to state agencies and programs, acts as a steward for unclaimed property that falls to state possession, provides accounting and reporting services for government entities, and manages payroll accounting and data for state employees. The state controller also serves as a policy liaison to a variety of finance organizations, including the state’s two pension funds, CalPERS and CalSTRS, and the California Franchise Tax Board. The state controller is elected for a four-year term and may serve a maximum of two terms in office. This office has traditionally been held by Democrats, and is currently held by two-term Controller Betty Yee. The most recent election results show that Controller Yee won the statewide election in 2018 with 65% of the vote.
The Race
There are four candidates running for this seat, including Democrats Malia Cohen, Yvonne Yiu, and Ron Galperin, and Republican Lanhee Chen. Cohen’s campaign has raised $316,000, and is not funded by police money or corporate PAC money. Democratic opponent Yiu has raised $548,000, of which $455,000 has been self-donated. She has had an additional nine donors to her campaign, and has not received police, corporate PAC, or real estate donations. Democratic opponent Galperin has raised $26,000, and is not funded by police, corporate PAC, real estate, or fossil fuel money. Republican Chen’s campaign has raised $945,000, and has received funding from a real estate organization. The remainder of his fundraising has come almost entirely from large-dollar individual donors.
Our Endorsement
Malia Cohen, a member of the California State Board of Equalization, is a lifelong Californian. According to campaign materials, Cohen is running for election to pursue a more equitable economic foundation for Californians through investments in housing, job programs, health care, and education. She believes that accountability and transparency in fiscal leadership is essential to closing the state’s significant equity gap, and that she can play a critical role in guiding financial decisions that will benefit previously neglected communities.
As controller, Cohen hopes to create a more efficient system to connect unclaimed property to individuals who have ownership rights, streamline financial services for Californians who are unbanked, and create a Golden State Stimulus program that will ensure that residents have the resources they need to cover their basic living expenses.
Cohen has an extensive resume and significant experience in fiscal oversight. As a current member of the California State Board of Equalization representing District 2, Cohen has experience administering statewide policy related to property tax, alcoholic beverage tax, and tax on insurers. Prior to holding this role, she served two terms as a member and president of the San Francisco Board of Supervisors, where she chaired the Budget and Finance Committee. Cohen has also served as commissioner of the San Francisco Employee Retirement System (SFERS), which manages the city’s municipal pension fund. In each of these positions, Cohen has kept equity in focus and has worked to leverage her role to create opportunities to establish more inclusive policies. In her elected roles, she was instrumental in implementing a free community college program in San Francisco, co-authored the Fair Chance Ordinance for individuals reentering the workforce after incarceration, and championed the creation of a Department of Officer Accountability for the San Francisco Police Department. She also worked to divest SFERS investments from fossil fuels and thermal coal investments to bring a more ethical foundation to the pension system. These and other efforts demonstrate her deft ability to use her knowledge and authority to return benefits to communities that have been historically marginalized and disadvantaged by fiscal and public policy.
Democrat Yvonne Yiu, the current mayor of Monterey Park, is running on a platform that centers on financial-information security and expanding financial-skills training to reach young people, immigrants, women, and other diverse communities through the creation of a new Office of Financial Empowerment. While she is dedicated to using the authority of the office to advocate for issues related to climate, the LGBTQIA+ community, and racial injustice, she has not provided a comprehensive outline for how her work as controller would benefit these progressive priorities beyond the creation of the Office of Financial Empowerment.
Malia Cohen has the endorsement of many elected officials in the state, including Congresswoman Karen Bass, current State Controller Betty Yee, State Attorney General Rob Bonta, Secretary of State Dr. Shirley Weber, State Senator Sydney Kamlager, and State Senator Scott Weiner. She has also received the endorsement of some progressive groups in the district, including NARAL Pro-Choice California PAC, California Federation of Teachers, Elect Black Women PAC, and a variety of trade organizations, including UNITE Here PAC. Based on our analysis, Cohen’s track record and policy positions demonstrate that she will be a progressive champion for Californians and will govern effectively in the best interest of this diverse state.