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Posted inCalifornia Currents

State Treasurer Fiona Ma leading in wide-open lieutenant governor race

by Nadia Lathan, CalMatters June 3, 2026June 3, 2026

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State Treasurer Fiona Ma speaks prior to the swearing-in ceremony for Senate President pro tempore Monique Limón in the Senate chambers at the state Capitol in Sacramento on Jan. 5, 2026. (Miguel Gutierrez Jr./CalMatters/Pool)

Democrat Fiona Ma, California’s state treasurer, and Republican Gloria Romero were leading in early returns in the race for lieutenant governor. Ma is leading a crowded field of high-profile Democrats, including Newsom administration official Josh Fryday and former Stockton Mayor Michael Tubbs. Romero, a longtime former legislator hailing from Los Angeles, is the sole prominent Republican candidate.

Voting ends on Tuesday and voters are choosing between an unusually competitive roster of candidates for the No. 2 job in the state, an office few aspire to without one key disclaimer: It’s a step on their way to another job in politics.

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The lieutenant governor wields little power beyond stepping in when the governor leaves the state. But it’s been used as a slingshot to the governor’s office before, by Gov. Gavin Newsom and former Gov. Gray Davis, and seeking the office is often a signal that its officeholder has higher political ambitions.

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Ma, Newsom administration official Fryday and former Stockton Mayor Tubbs are the leading Democratic candidates in a top-two primary that will send two candidates on to the November general election. Fryday, who heads volunteer programs for the state, has amassed the biggest treasure chest — nearly $4 million — and is backed by teachers unions and the governor.

Ma, a longtime politician with deep roots in San Francisco, has endorsements from influential labor unions and has raised about $2.8 million. But her run for the second-highest statewide office is shadowed by 2021 sexual harassment allegations that Tubbs supporters have latched onto. Ma has called the allegation “frivolous”, but the state paid $350,000 to settle a lawsuit filed by one of her former employees.

Tubbs was among the first to announce his campaign in 2024. Once a progressive star, he rose to political stardom 10 years ago as a young big city mayor who piloted a guaranteed income program in Stockton. Ousted by a Republican newcomer, his political career seemed to fade and he went on to lead Mayors for a Guaranteed Income, an advocacy organization. It’s his first crack at public office since then, and he’s garnered support from progressive Democrats and the powerful union SEIU California.

Longtime state lawmaker Romero is the leading Republican. Romero spent 12 years representing east Los Angeles in the state Legislature as a Democrat. She switched parties in 2024.

Higher education at the forefront

The major Democratic candidates have struggled to set themselves apart on policy. Because the lieutenant governor sits on all three college governing boards, each has claimed they would work to make universities build more housing and lower tuition costs. This has included practical solutions from directing Federal Student Aid applicants to food assistance program CalFresh, to more far-fetched ones such as free tuition for in-demand programs such as nursing.

The lieutenant governor also sits on the commission responsible for millions of acres of public land. Fryday thinks identifying more undeveloped land to build student housing on will help lower tuition costs. 

Ma wants Cal State universities, which rely heavily on state funding, to find other revenue sources through partnerships with private companies. 

At an April candidate debate in Los Angeles, Tubbs said he supports freezing tuition but did not elaborate on how he would make up the loss in revenue.

Romero seeks greater transparency about faculty, salaries and housing allowances and would push for more student representation on the UC Board of Regents.

To set themselves apart, the Democrats have leaned on their distinct backgrounds. Fryday has made clean energy a core part of his campaign as a former executive of a clean energy organization started by billionaire gubernatorial candidate Tom Steyer. Ma has framed the job as another bulwark against the Trump administration. Tubbs, who works as an unpaid economic adviser to Newsom, has focused on affordability and cutting tuition for low-income families.

This story originally appeared in CalMatters.

Tagged: CalMatters, Election 2026, election results, higher education, lieutenant governor, politics, primary election, state government, Treasurer Fiona Ma

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