BURSTCalifornia Lt. Gov. Eleni Kounalakis (D) dropped her bid Friday to replace term-limited Gov. Gavin Newsom (D) in next year's gubernatorial race, instead pivoting to run for treasurer in the Golden State.
The announcement, which did not include an endorsement, narrows an expansive Democratic field. Early polling shows former California Rep. Katie Porter in the lead.
Kounalakis's decision comes after lackluster fundraising numbers and polls showing the Democrat falling behind several other candidates, including Porter, Republican former Fox News Host Steve Hilton and Republican Riverside County Sheriff Chad Bianco.
“At this moment, I believe I can make the greatest impact by focusing on California’s future,” Kounalakis said in a press release. “As State Treasurer, I will bring a deep commitment to fiscal responsibility, economic opportunity, and strategic investment in our state’s priorities — from affordable housing and clean energy to infrastructure and education.”
Kounalakis was preceded as lieutenant governor by Newsom, who has sought to position the office as a bulwark against Republican policies on the national stage, most recently on redistricting.
She raised just $100,000 during the first six months of the year, well behind Porter's $3 million haul over just three months. Porter, who lost in the state’s Senate primary to Sen. Adam Schiff (D), polled at 18 percent in a recent survey from Emerson College Polling, the highest of any candidate.
Other Democrats in the gubernatorial race include former Health and Human Services Secretary Xavier Becerra, former state lawmaker Toni Atkins and former Los Angeles Mayor Antonio Villaraigosa.
Former Vice President Kamala Harris, who had been floated as a top potential candidate, announced late last month that she would not launch a campaign for governor, despite hypothetical polling showing her with a wide lead. Kounalakis is close with the former vice president and reportedly weighed a pivot to treasurer in March as Harris was still mulling a bid for governor.
The lieutenant governor's shift may also open up room for several prominent endorsements, including from former House Speaker Nancy Pelosi (D), who appeared to back the lieutenant governor late last month.