Ted Lauzen defeats challengers in Delaware’s Democratic primary for state treasurer

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Ted Lauzen is moving forward as the 2026 Democratic nominee for Delaware state treasurer after defeating Mike Miller and Michael Alexander Smith in the state’s Sept. 15 primary election.

The candidate elected to the seat will replace incumbent Treasurer Colleen C. Davis, who served two terms and did not seek reelection.

He will face off against Republican Michael Ramone, a former state representative who ran unopposed, in the November general election.

The New York Times called the race at 8:59 p.m., declaring Lauzen the primary winner. As of 9:10 p.m., he holds 47% of the vote. About 43% of ballots have been counted.

The state treasurer manages Delaware’s assets, overseeing the state’s nearly $8 billion in investments, banking services and debt obligations. The treasurer’s office also offers savings and financial literacy programs for Delawareans. The state treasurer serves a four-year term.

Lauzen, an investment manager and Wilmington resident, announced his bid for state treasurer in May. He was endorsed by the Delaware Democratic Party last month, alongside VoteVets Political Action Committee, Gun Sense Voter and Delaware Stonewall Political Action Committee. The latter two organizations also endorsed Smith.

Lauzen’s campaign was centered around protecting the state’s AAA credit rating, given to states with strong fiscal oversight and stable credit outlooks. He also promised to modernize the state’s debt policy, increase transparency in how the state invests taxpayer money and to expand Delaware’s financial literacy programs.

Smith, an economist based in Pike Creek, ran for the 21st Legislative District seat in the Delaware House of Representatives in 2024, but was defeated in the Democratic primary. Smith’s campaign focused on expanding retirement security for residents and government workers, making education more attainable through state college savings plans and making sure the state is prepared for any federal funding disruptions.

Miller is a Sussex County native and business owner. He previously ran for office as a two-time Democratic nominee for the U.S. House of Representatives. Like Lauzen’s, Miller’s campaign promised to protect the state’s AAA rating and to increase financial literacy programs.