Stacy Garrity

Subject: Stacy Garrity, Republican, Pennsylvania State Treasurer, nominee for Governor, November 3, 2026 Compiled: October 23, 2026 for the On Point Politics watchdog database, onpointpolitics.us Data cutoff: Coverage through October 19, 2026 of filings through the June 9 to September 14, 2026 reporting period Next scheduled data drop: Pennsylvania pre-election report due October 23, 2026, not yet covered at compile time; then the 30 day post-election report in early December 2026

Bottom line up front

Garrity had raised a bit over $5 million since the start of 2025 by the September 14 report, against about $55 million for Josh Shapiro, per [Spotlight PA](spotlightpa.org). She entered the final stretch with about $1.4 million and had spent about $440,000 on advertising in the summer period, $204,000 of it on TV, per [Public Source](penncapital-star.com). Her money is mostly in state and small. About 86 percent came from Pennsylvania and her average gift was $457. Three interests combine money with a live decision:

1. The skill game industry. She accepted a $33,500 flight from Pace-O-Matic founder Michael Pace. The company's PAC gave her $5,000. Her largest donor network, Bob Asher and his PA Future Fund at $345,000 in named 2026 gifts, runs through a man wire copy describes as a registered Pace-O-Matic lobbyist. Citizens Alliance, funded by Pace-O-Matic, pledged 750,000 doors for her. She backs the industry's flat $500 per machine fee.
2. The Yass school choice network. Commonwealth Leaders Fund and Commonwealth Children's Choice Fund gave her $720,000 across her treasurer races, about a fifth of that money, and Commonwealth Leaders Fund gave again in 2026. She would opt in to federal tax credit scholarships on day one.
3. The Republican establishment. Congressional committees, county parties, House GOP leader Jesse Topper and 2022 candidate Dave White form her second funding base, with a Mar-a-Lago fundraiser in spring 2026.

Her own finances add two conflict questions: natural gas royalties while she promises faster gas permits, and an insurance board seat whose sale would pay her $195,000 a year for five years.

Committee structure and treasurer

The formal committee name, filer ID and treasurer were not retrieved. Her committee raised $1,025,182 in the January 1 to March 30, 2026 period, $286,591 from March 31 to May 4, and $726,772 from May 5 to June 8, with debts rising from $140,354 to $193,336 across those reports, per the [Lower Bucks Times](lowerbuckstimes.com). It raised $1.8 million and spent $1.58 million from June 9 to September 14, per [City and State](cityandstatepa.com). No super PAC dedicated to her was found. Citizens Alliance of Pennsylvania is the main aligned outside group. Spotlight PA reported in April 2026 that the Republican Governors Association had not prioritized the race. No vendor, pollster or media buyer was named in any source read.

The skill game industry

Documented. Spotlight PA reports Garrity accepted a flight worth $33,500 from Michael Pace, founder of Pace-O-Matic, per the [Spotlight PA guide](spotlightpa.org). Operators for Skill PAC gave her $5,000 in the first quarter of 2026, per [City and State](cityandstatepa.com). Bob Asher, a former Republican National Committeeman, gave $20,000 that quarter and $75,000 in the summer period. His PA Future Fund gave $20,000 and then $230,000, her largest single donor. Tribune wire copy says Asher is a registered lobbyist for Pace-O-Matic, per the [Daily Gazette reprint](dailygazette.com), and the [Inquirer](inquirer.com) says the company hired a former RNC member without naming him. That link is stored as Secondary.

Hop two. Pace-O-Matic gave nearly $2.3 million to the Citizens Alliance national PAC since May 2025, per [WESA](wesanews.org). In 2026 a Pace-O-Matic affiliate gave $1 million to a Citizens Alliance super PAC, which gave $2.8 million to a state PAC of the same name, and Operators for Skill gave $950,000 to Citizens Alliance of Pennsylvania PAC, per the Inquirer. Citizens Alliance of Pennsylvania gave Garrity $10,000 and pledged 750,000 doors for her. Operators for Skill also gave $47,500 to Sen. Gene Yaw since 2021 and $70,000 to Sen. Anthony Williams since 2025. They are the two senators behind the $500 fee bill, and Yaw also gave to Garrity.

What they want and the lever. The state Supreme Court ruled in June 2026 that unregulated machines are illegal and gave lawmakers 120 days. No law passed and machines came out in October. Pace-O-Matic grossed about $525 million in 2024. The industry wants the $500 monthly fee, about $300 million a year, against Shapiro's 52 percent tax at almost $800 million. Garrity backs the flat fee, per the [Capital-Star](newsfromthestates.com). On October 17 she said Shapiro "sold out skill game operators," per [WPXI](wpxi.com). Her campaign declined to comment on Citizens Alliance. She frames the issue around VFWs, Legions and fire halls that host machines.

Inference: the dollar gap between the two tax plans is about $500 million a year, and the governor's signature decides it. The documented chain runs from Pace-O-Matic to Citizens Alliance and to Asher. The file does not store Pace-O-Matic money to Garrity's committee beyond the $5,000 PAC check and the flight, because no filing read shows more.

The Yass school choice network

Documented. Commonwealth Leaders Fund and Commonwealth Children's Choice Fund gave her $720,000 combined from 2020 to August 2025, about 20 percent of her treasurer era money, per [Spotlight PA](spotlightpa.org). Commonwealth Leaders Fund gave $10,000 in the first quarter of 2026. Spotlight PA describes that fund as almost entirely funded by Jeff Yass; it gave over $13.4 million to six candidates in 2024, mostly Attorney General Dave Sunday. Yass gave Students First $34 million over two years, per [Spotlight PA](spotlightpa.org). Yass groups were notably quiet against Shapiro in 2022, and no large 2026 Yass spending for Garrity was found in sources read.

What they want and the lever. Garrity said at the October 7 debate she would opt in to the federal tax credit scholarship program on day one. Shapiro is undecided.

Inference: Yass money is a historic pillar of her treasurer career but a small share of her 2026 race. The scholarship opt in is the decision that would give this network its return, and it may be settled by Shapiro before she could take office.

Republican establishment

Documented. Summer 2026 gifts: Dave White $100,000, Rep. Glenn Thompson's GT Commonwealth Fund $55,150, Rep. Dan Meuser's committee $31,000. First quarter: Montgomery County GOP $10,000, Meuser $6,000, Topper $5,000, Building Together PAC $25,000. Donors without stated amounts include Rep. Mike Kelly, Sens. Gene Yaw and Judy Ward, and seven state representatives. Adam Kidan paid $9,928 in kind on March 27, 2026 for the Mar-a-Lago fundraiser, per the [Inquirer](inquirer.com). Her other big checks: University City Housing Co. at $250,000 in late 2025, her largest single gift, and Bead's Jay Sykes at $20,000. Her running mate is Jason Richey, a construction and real estate attorney at K&L Gates.

Inference: the delegation money is loyalty money rather than a policy purchase. The Asher network sits at the center of both this bloc and the skill game bloc.

Own finances and disclosure history

Her state salary is $211,219. She earned $57,290 last year on the board of ECM Insurance, which Old Republic agreed to buy for at least $153 million. If the deal closes she would be paid $195,000 a year for five years as an advisor and could buy up to $350,000 in Old Republic stock at a discount of at least 30 percent, per the [Inquirer](inquirer.com). The State Ethics Commission reviewed the board seat at her request and found no prohibition. She also reports royalties from land leases to two natural gas companies, unnamed, which she will keep as governor, per the Inquirer and [Capital and Main](penncapital-star.com), while she pledges to fast track gas permits. Pennsylvania disclosures do not require amounts. No net worth estimate was found.

Enforcement and controversies

• Pace flight. She reported accepting a $33,500 flight from Michael Pace. No campaign response was found in sources read.
• ECM board. Critics question the board pay and advisory deal. Her campaign says she followed the law, that the Ethics Commission cleared the seat, and that she would resign the board entirely if elected. Shapiro's campaign said she "cannot be trusted to lead Pennsylvania."
• Treasury actions. She added $45 million to Israel Bonds after October 7, 2023 and used unallocated funds for a $500 million loan program in the 2025 budget impasse. Both drew criticism; she denies the loan program was political.
• Citizens Alliance. Sen. Camera Bartolotta urged Republicans not to appear with its chief Cliff Maloney. Maloney denies misconduct claims. Garrity's campaign declined to comment.
• 2020 election. Spotlight PA reports she has questioned the 2020 results.
• No FEC, State Ethics Commission or Department of State enforcement action against her committee was found in sources read.

Deal table

Levers and calendar

Calendar. November 3, 2026: election. November to December 2026: Shapiro's scholarship decision and any lame duck skill game bill. Early December 2026: 30 day post-election report. January 2027: inauguration, and if she wins, a treasurer vacancy. February 2027: budget proposal. July 1, 2027: budget deadline. 2027 to 2028: energy special session, Medicaid work rule, gas tax pause.

What we could not verify

• The committee's formal name, filer ID and treasurer; Transparency USA's [Garrity page](transparencyusa.org) failed.
• The date of the Pace flight and the disclosure filing that reports it.
• Asher's lobbyist registration, seen only in wire copy without outlet or date.
• Amounts from Rep. Mike Kelly, Yaw, Ward and the seven state representatives, Cozen O'Connor and Duane Morris, and Keystone Honor PAC's gifts and funders.
• Whether Commonwealth Partners or Yass vehicles are spending for her in the fall.
• The October 23 pre-election report and any RGA spending.
• Ballotpedia's 2024 treasurer total of $3,024,020 cites OpenSecrets and was not stored as an edge.
• Snippet only URLs not read: [Daily Item](dailyitem.com), [Mon Valley Independent](monvalleyindependent.com), [WESA April 8](wesa.fm), [PoliticsPA](politicspa.com), [Armchair Lehigh Valley](armchairlehighvalley.substack.com).
• Blocked sources not used: FEC, OpenSecrets, FollowTheMoney, Wikipedia.