Solving Homelessness and Housing

Ex-Oakland Mayor Libby Schaaf runs for California State Treasurer in 2026, focusing on managing public funds for homelessness solutions and affordable housing.

In an exclusive interview with Politico, Schaaf outlined her key priorities, emphasizing the use of the treasurer's public-financing powers to address urgent issues. Her agenda includes simplifying the state's complex housing fund application process, expanding access to higher education for low-income families, and promoting climate-friendly infrastructure.

"As a former mayor, I believe in connecting the impact of this work to the average Californian and addressing the challenges they're currently facing," Schaaf stated.

While other potential candidates, such as former Assembly Speaker Anthony Rendon and Assemblymember Phil Ting, are exploring their options with fundraising committees, Schaaf is the first to officially enter the race. Rendon has $500,000 in his committee, and Ting has nearly $3.3 million.

California's treasurer holds a pivotal role as the state's banker, overseeing an investment portfolio exceeding $124 billion, serving on pension fund boards, and managing tax-credit programs for affordable housing construction. Notable Democrats like Phil Angelides and John Chiang have utilized this role as a stepping stone for higher offices.

Schaaf's vision includes streamlining the state's housing fund programs, advocating for greater efficiency, and utilizing bond funds and federal tax credits to boost housing construction.

During her time as Oakland's mayor (2015-2021), Schaaf faced challenges like homelessness, gun violence, and post-pandemic property crime. Despite criticism, she initiated positive programs like college savings, universal preschool, guaranteed income, and rental assistance for the homeless.

Oakland native Schaaf, City Council member for the Oakland Hills, ex-Gov. Jerry Brown's key aide. Former interim executive director at Emerge California, now a senior adviser.

Schaaf's candidacy has garnered support from prominent figures, including former Sen. Barbara Boxer, Sacramento Mayor Darrell Steinberg, state Sen. Scott Wiener, and Berkeley Mayor Jesse Arreguin.