PROVIDENCE — After giving it serious consideration, state Senate Finance Committee Chairman Ryan W. Pearson on Sunday said he has decided not to run for state treasurer.
Pearson, a Cumberland Democrat with $129,000 in his campaign account, would have been considered a serious contender for the position that term-limited Democratic General Treasurer Seth Magaziner is leaving to run for Congress.
“It has been a difficult decision given my passion for the office and how it can be used to serve Rhode Islanders,” Pearson said. “On a personal note, the opportunity to bring together my public and private sector experience to one role is an exciting prospect.”
But, he said, “The work ahead in the Senate is significant and presents the best opportunity to have the greatest impact on our state’s future.”
Pearson noted Rhode Island is in the midst of making crucial decisions about how to spend $1.13 billion in federal American Rescue Plan Act funds and a $618.4 million state budget surplus, all in addition to the annual state budget.
“Today, we find ourselves at the crossroads of many major decisions important to the future of our state,” he said. “Rhode Island is well positioned to make major investments to transform our health care system, housing stock, and our workforce.”
As Senate Finance chairman, Pearson said he is looking forward to working with House and Senate colleagues and Governor Daniel J. McKee’s administration to “execute on this once-in-a-generation opportunity.”
Pearson, 33, has been a state senator since 2013 and previously served on the Cumberland school committee. He works as vice president of consumer lending at Citizens bank.
Former Central Falls Mayor James A. Diossa, a Democrat, remains the only announced candidate for treasurer after entering the race in December 2021.
But other potential Democratic candidates include Rhode Island Commerce Secretary Stefan Pryor, House Finance Committee Chairman Marvin L. Abney, Representative Scott A. Slater, and Nicholas A. Autiello II, who served as a special adviser in former Governor Gina M. Raimondo’s Executive Office of Commerce.
On the Republican side, former Cranston Mayor Allan W. Fung had been poised to enter the treasurer’s race, but he jumped into the 2nd Congressional District race after Democratic US Representative James R. Langevin announced he would not seek re-election this year.
Edward Fitzpatrick can be reached at [email protected] Follow him on Twitter @FitzProv.
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