State Rep. Mark Lowery of Maumelle announced Friday that he will seek the Republican nomination for Arkansas state treasurer, three days after dropping out of the race for secretary of state.
In a written statement, Lowery said he had decided over the past month that there was not a path forward in the secretary of state's race, but that he was energized by the amount of support he had received while campaigning statewide.
Lowery was one of two primary challengers to Republican Secretary of State John Thurston, who is seeking a second term, along with former state Sen. Eddie Joe Williams of Cabot. Lowery's most recent campaign finance report, filed Tuesday, showed that he raised the least of any candidate in that race in the fourth quarter.
He is the second Republican to announce a bid for state treasurer. State Sen. Mat Pitsch, R-Fort Smith, launched his campaign for treasurer last February.
The incumbent, Republican Dennis Milligan, is term-limited and is running for state auditor. No Democratic candidates have announced for state treasurer.
Lowery said Arkansas residents are concerned about the direction the country and the state are going in regarding fiscal restraint.
"Though the decisions of tax cuts and the size of state government are policy decisions outside the control of the State Treasurer I believe Arkansans will give me the bully pulpit to say we can do better," Lowery said.
As a legislator, Lowery said he has been active in discussions about fiscal restraint and proper allocation of resources.
"My background as a strong fiscal conservative in the Arkansas House of Representatives positions me as the Republican Arkansans can trust to serve as our State Treasurer," he said. "I've voted to cut taxes on Arkansans, hold the line on spending, and oppose Big Government programs."
He added that many Arkansans are struggling with financial hardships because of the coronavirus pandemic and weak economy.
"Like them, I work daily to overcome these financial challenges. I believe Arkansans need leaders in the State Capitol -- not just in the legislative chambers -- who understand that reality."
Lowery is the sponsor of the state's voter ID law and sponsored a raft of bills tightening voting restrictions in 2021, accomplishments he touted in his bid for secretary of state.
With regard to the money he had raised for his secretary of state bid, Lowery said by phone Friday he has been calling contributors and asking if they wanted to transfer it to the treasurer race.
Pitsch called Lowery's switch in races an "interesting move" but welcomed him to the race.
"I look forward to demonstrating the difference between candidates both on a personal and public level, especially with regard to financial management and skills," Pitsch said.
Lowery was first elected to the Legislature in 2012. Since then, he has been fined three times by the Arkansas Ethics Commission for failing to file timely campaign finance reports.
In 2020, he attributed failing to file a timely campaign finance report to eyesight issues and the difficulty of using the secretary of state's online campaign finance filing system.
In 2016, he was fined for failing to file nine campaign finance reports on time, which he said was a result of misunderstanding the reporting requirements as an unopposed candidate in the primary that year.
In 2013, he was fined for failing to file a timely campaign finance report in the 2012 primary.
Arkansas' treasurer of state is paid $95,693.73 annually. The treasurer serves as the state's banker and is responsible for an investment portfolio of about $4.5 billion.