Republican Elijah Norton and Democrat Nick Mansour, the nominees for Arizona Treasurer, faced off during a debate on Sept. 23, 2026, where both candidates accused the other of being untrustworthy in managing the state’s finances. Norton, a former treasurer for the Arizona Republican Party and president of Veritas Global Protection Services, claimed that Mansour’s plan to shift the state’s Permanent Land Endowment Trust Fund from 60% stocks and 40% fixed income to 80% stocks and 20% bonds would endanger the state’s funds. Norton called Mansour’s proposal “just crazy” and stated that a letter from multiple county treasurers opposing the plan and endorsing Norton was being released during the debate.
Mansour, the former CEO of the Arizona College of Nursing, responded by saying that other states do not follow Arizona’s model of investing in the Permanent Land Endowment Trust Fund. He argued that the current approach is not fiscally responsible and that the proposed change would allow the state to invest in the long term for its residents. Mansour also accused Norton of “mischaracterizing” his plan, while Norton claimed it could cost the state money if the stock market fluctuates too wildly.
Both candidates also claimed that the other would bring partisan politics into the office. Mansour said that Norton is not trusted by his own party, citing Kimberly Yee, the current state treasurer who is running for superintendent of public instruction, as not endorsing him. Norton, who won a contentious primary in July, has contributed more than $1 million to the state GOP since 2023, including nearly $200,000 in the first half of 2026, and has poured $1.1 million into his treasurer campaign. He has also been the single most prolific funder of other Republican candidates in Arizona in the 2026 election cycle, giving more than $3 million to GOP campaign efforts, including his own campaign.
Mansour, who ran unopposed in his primary, used that fact to attack Norton for a lack of experience in elections. Both men leaned on their business experience to persuade voters that they are the most fiscally responsible to handle the state’s checkbook. Mansour cited endorsements that include former Republican lawmakers, stating, “We want to keep partisan politics out of this office as much as possible.”
