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John Schroder (Louisiana)
John Schroder (Republican Party) was the Louisiana State Treasurer. He assumed office on December 5, 2017. He left office on January 8, 2024.
Schroder (Republican Party) ran for election for Governor of Louisiana. He lost in the primary on October 14, 2023.
Biography
Schroder received a bachelor's degree from Southeastern Louisiana University.[1] He was a special agent in the criminal investigation division (CID) of the U.S. Army and worked as a police detective and in the real estate and homebuilding industries.[1]
Political career
Louisiana Treasurer (2017-2023)
Schroder was elected to the position of Louisiana treasurer on November 18, 2017, and assumed office on December 5, 2017.[2]
Louisiana House of Representatives (2008-2017)
Schroder is a former Republican member of the Louisiana House of Representatives, representing District 77 from 2008 to 2017.[3]
Issues
ESG
| Environmental, social, and corporate governance |
|---|
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| Select a topic from the dropdown below to learn more. |
As treasurer, Schroder took positions in opposition to environmental, social, and corporate governance (ESG), an approach to investing and corporate decision-making.
State financial officers, including treasurers, auditors, and controllers, are responsible for auditing other government offices, managing payroll, and overseeing pensions. In some states, certain SFOs are also responsible for investing state retirement and trust funds.
Exclusion of CitiGroup and Bank of America from Louisiana bond business (August 2018)
In August 2018, Schroder announced that he supported the Louisiana Bond Commission “to prohibit Citigroup and Bank of America from participating in an upcoming bond sale because of their restrictive gun policies.” As state treasurer, Schroder was also the chair of the Bond Commission.[4]
Both banking firms announced policies that would deny banking services such as loans and credit cards to businesses in the firearms industry.[5]
“I personally believe the policies of these banks are an infringement on the rights of Louisiana citizens,” said Schorder, in a statement announcing the Bond Commission’s 7-6 vote against the banks. "As a veteran and former member of law enforcement, I take the Second Amendment very seriously.”[4]
Exclusion of JP Morgan from Louisiana bond business (November 2021)
In November 2021, the Louisiana Bond Commission voted unanimously to refinance $700 million in state borrowing debt through Wells Fargo. Banking firm JP Morgan Chase was initially considered for the deal. Schroder and Louisiana Attorney General Jeff Landry (R), both members of the Bond Commission, opposed giving JP Morgan the contract because the firm’s CEO, Jamie Dimon, had announced that JP Morgan would not do business with manufacturers of popular firearms such as AR-15s. Dimon characterized the rifles as “military-style weapons for civilian use.”[6]
“I'm not selling our 2nd Amendment rights to corporate America," said Schroder, defending the decision.[6]
West Virginia letter supporting financial system access for fuel industry (November 2021)
Schroder was a co-signer on a November 22, 2021, letter sent by West Virginia Treasurer Riley Moore (R). The signatories were the treasurers, auditors, and comptrollers from fifteen states. The letter identified them as the “fiduciaries and stewards of more than $600 billion” in combined investment capital.
The letter began: “We are writing to notify you that we will be taking collective action in response to the ongoing and growing economic boycott of traditional energy production industries by U.S. financial institutions.”
The signatories wrote their individual actions would be tailored to fit each state’s unique laws and economic position, but that the coordinated objective would be “to select financial institutions that support a free market and are not engaged in harmful fossil fuel industry boycotts for our states’ financial services contracts.”[7]
Letter to Unilever CEO regarding Ben & Jerry’s anti-Israel policy (December 2021)
In July 2021, American ice cream maker Ben & Jerry’s announced it would end sales of its products in the “occupied Palestinian territory.” In response, Israeli Prime Minister Naftali Bennett said Ben & Jerry’s had become the “anti-Israel ice cream.”[8] Ben & Jerry’s is a subsidiary of Unilever, PLC, a publicly traded multinational consumer products conglomerate.
On December 9, 2021, Schroder was one of six other state treasurers co-signing a letter sent by Arizona Treasurer Kimberly Yee (R) to Unilever CEO Alan Jope, accusing him of attempting to “deflect responsibility for Ben & Jerry’s boycott by suggesting that you have no authority over your subsidiary’s decision in this case.” The letter quoted two law professors who had reviewed the Ben & Jerry’s acquisition agreement and found that it required Ben & Jerry’s to “help Unilever sell the premium ice cream in Israel.” The treasurers asked Jope to provide “full clarification and transparency regarding Unilever’s ability to override the discriminatory boycott of Israel initiated by Ben & Jerry’s.”[9]
In June 2022, Unilever announced it was selling the Israeli rights to the ice cream to American Quality Products (AQP), allowing sales to resume in Israel under the new label. In a Twitter statement, Ben & Jerry’s expressed its disagreement with the policy change, saying, “While our parent company has taken this decision, we do not agree with it. Unilever’s arrangement means Ben & Jerry’s in Israel will be owned and operated by AQP. Our company will no longer profit from Ben & Jerry’s in Israel.”[10]
Opposition to U.S. Department of Labor ESG rules (December 2021)
In December 2021, Schroder and 35 other state financial officers and attorneys general submitted a public comment to the U.S. Department of Labor (DOL) in opposition to a proposed DOL rule that would encourage financial managers to consider ESG factors when selecting investments for private sector pensionplans.
Titled the “Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights,” the rule would state that pension plan managers “can make investment decisions that reflect climate change and other environmental, social, or governance (‘ESG’) considerations, including climate-related financial risk, and choose economically targeted investments (‘ETIs’) selected, in part, for benefits apart from the investment return.”
Schroder and the other officials wrote that the rule “would allow employers and investment managers to invest employee retirement savings in a way that benefits social causes and corporate goals even if it adversely affects the return to the employee” and that it would permit “proxy voting in ways that support ESG investment goals contrary to shareholder interests.”
The state officials wrote that they were “opposed to investment managers and employers being encouraged or mandated to consider ESG factors and protected from legal action when they do” and that the DOL’s proposed rule “makes what should be a financial decision into a political one.”[11]
Opposition to Federal Reserve Bank appointee (January 2022)
In January 2022, Schroder was one of 25 members of the State Financial Officers Foundation (SFOF) who co-signed a letter to President Joe Biden (D), asking him to withdraw the nomination of Sarah Bloom Raskin to the Federal Reserve Bank Board of Governors.[12]
In a May 2020 New York Times commentary titled “Why Is the Fed Spending So Much Money on a Dying Industry?,” Raskin wrote that Federal Reserve policy decisions should oppose investments in fossil fuels and support investments in the renewable energy sector: “The decisions the Fed makes on our behalf should build toward a stronger economy with more jobs in innovative industries — not prop up and enrich dying ones.”[13]
Schroder and the signatories on the SFOF letter wrote that they were concerned Raskin “would use the supervisory authority as Vice-Chair for Supervision at the Federal Reserve Bank to disrupt the private banking sector, reliable energy supplies, and the U.S. economy.”[12]
In March 2022, Raskin withdrew her name from consideration for the Federal Reserve position.[14]
Letter regarding use of ESG criteria by S&P Global Ratings (May 2022)
In May 2022, Schroder sent a letter to the leadership of S&P Global Ratings, opposing the firm’s policy of publishing “ESG credit indicators as part of its credit ratings for states.”[15]
“Use of ESG indicators to determine creditworthiness undermines what should be an impartial credit rating system,” said Schroder, according to a press statement regarding the letter. “It changes the trajectory of the rating system from gauging the ability to pay debt to forcing alignment with policy goals.”
The news release headline charged that the “ESG-infused S&P rating process” was “political tyranny.” [16]
Opposition to Morningstar ratings of Israel investments (August 2022)
In late August 2022, Schroder and 17 other members of the State Financial Officers Foundation (SFOF) co-signed a letter addressed to the Morningstar investment rating service expressing their “serious concern regarding reports that Morningstar, Inc. (Morningstar), through its wholly-owned subsidiary, Sustainalytics, negatively rates firms connected to Israel in apparent alignment with the Boycott, Divestment, Sanctions (BDS) movement.” The letter said the BDS movement was “antithetical to the global causes of peace, democracy, and human rights” and asked Morningstar to “take corrective action immediately to terminate all research and ratings products that treat Israel-connected companies differently than companies operating in other free democracies.”[17]
Liquidation of State investments in BlackRock funds (October 2022)
In an October 2022 letter to Larry Fink, CEO of the BlackRock asset management firm, Schroder informed Fink that by the end of the year he would divest all of the $794 million position in BlackRock money market funds, mutual funds and exchange-traded funds held by Louisiana Treasury. Schroder said the investment firm’s “blatantly anti-fossil fuel policies would destroy Louisiana’s economy.”
Schroder also wrote that his legal counsel had informed him that “Environmental, Social and Governance (ESG) investing is contrary to Louisiana law on fiduciary duties, which requires a sole focus on financial returns for the beneficiaries of state funds.”
Fink’s past statements, according to Schorder, demonstrated that BlackRock’s investment policy was in conflict with Louisiana law: “You have admitted that your ESG agenda of forcing behaviors will not increase investor returns. Your 2022 letter to CEOs stated plainly that 'We need to be honest about the fact that green products often come at a higher cost.' High cost/low return environmental policies will reduce a company’s profits...and investors’ returns.”[18]
Elections
2023
See also: Louisiana gubernatorial election, 2023
Louisiana elections use the majority-vote system. All candidates compete in the same primary, and a candidate can win the election outright by receiving more than 50 percent of the vote. If no candidate does, the top two vote recipients from the primary advance to the general election, regardless of their partisan affiliation.
Nonpartisan primary election
Nonpartisan primary for Governor of Louisiana
The following candidates ran in the primary for Governor of Louisiana on October 14, 2023.
Candidate | % | Votes | ||
| ✔ |  | Jeff Landry (R) | 51.6 | 547,827 |
 | Shawn Wilson (D)  | 25.9 | 275,525 | |
 | Stephen Waguespack (R) | 5.9 | 62,287 | |
 | John Schroder (R) | 5.3 | 56,654 | |
 | Hunter Lundy (Independent) | 4.9 | 52,165 | |
| Daniel Cole (D) | 2.6 | 27,662 | ||
 | Sharon Hewitt (R) | 1.7 | 18,468 | |
 | Benjamin Barnes (Independent) | 0.5 | 5,190 | |
| Patrick Henry Barthel (R) | 0.4 | 4,426 | ||
 | Richard Nelson (R) (Unofficially withdrew) | 0.3 | 3,605 | |
| Jeffery Istre (Independent) | 0.3 | 3,400 | ||
 | Xavier Ellis (R) | 0.2 | 1,734 | |
| Keitron Gagnon (Independent) | 0.1 | 1,260 | ||
 | Xan John (R) | 0.1 | 1,164 | |
 | Frank Scurlock (Independent) | 0.1 | 1,131 | |
| Total votes: 1,062,498 | |||
| = candidate completed the Ballotpedia Candidate Connection survey. | ||||
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Withdrawn or disqualified candidates
- Oscar Dantzler (D)
Endorsements
Ballotpedia did not identify endorsements for Schroder in this election.
2019
See also: Louisiana Treasurer election, 2019
Louisiana elections use the majority-vote system. All candidates compete in the same primary, and a candidate can win the election outright by receiving more than 50 percent of the vote. If no candidate does, the top two vote recipients from the primary advance to the general election, regardless of their partisan affiliation.
Nonpartisan primary election
Nonpartisan primary for Louisiana State Treasurer
Incumbent John Schroder won election outright against Derrick Edwards and Teresa Kenny in the primary for Louisiana State Treasurer on October 12, 2019.
Candidate | % | Votes | ||
| ✔ | | John Schroder (R) | 60.0 | 769,462 |
 | Derrick Edwards (D) | 34.5 | 442,740 | |
 | Teresa Kenny (Independent) | 5.5 | 69,908 | |
| Total votes: 1,282,110 | |||
| = candidate completed the Ballotpedia Candidate Connection survey. | ||||
| If you are a candidate and would like to tell readers and voters more about why they should vote for you, complete the Ballotpedia Candidate Connection Survey. | ||||
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2017
- See also: Louisiana treasurer election, 2017
Louisiana held a primary election for treasurer on October 14, 2017, with a general election on November 18, 2017. This special election was called after the previous treasurer, John Neely Kennedy, was elected to the U.S. Senate.
John Schroder (R) defeated Derrick Edwards (D) in the election for Treasurer of Louisiana.
| Election for Treasurer of Louisiana, 2017 | ||||
|---|---|---|---|---|
| Party | Candidate | Vote % | Votes | |
| Republican |  John Schroder |
55.74% | 208,144 | |
| Democratic | Derrick Edwards | 44.26% | 165,271 | |
| Total Votes | 373,415 | |||
| Source: Secretary of State of Louisiana | ||||
The following candidates ran in the election for Treasurer of Louisiana.
| Election for Treasurer of Louisiana, 2017 | ||||
|---|---|---|---|---|
| Party | Candidate | Vote % | Votes | |
| Democratic | Derrick Edwards |
31.26% | 125,503 | |
| Republican | John Schroder |
24.02% | 96,440 | |
| Republican | Angele Davis | 21.64% | 86,880 | |
| Republican | Neil Riser | 18.13% | 72,792 | |
| Republican | Terry Hughes | 2.77% | 11,117 | |
| Libertarian | Joseph D. Little | 2.18% | 8,767 | |
| Total Votes | 401,499 | |||
| Source: Secretary of State of Louisiana | ||||
2015
Elections for the Louisiana House of Representatives took place in 2015. A primary election was held on October 24, 2015, with a general election held in districts where necessary on November 21, 2015. The signature filing deadline for candidates wishing to run in this election was September 10, 2015, at 4:30 p.m. CDT.[19]
Louisiana elections use the Louisiana majority-vote system. All candidates compete in the same primary, and a candidate can win the election outright by receiving more than 50% of the vote. If no candidate does, the top two vote recipients from the primary advance to the general election, regardless of their partisan affiliation.
For information about which offices are nominated via primary election, see this article. Incumbent John Schroder (R) was unopposed in the October 24 blanket primary.[20][21]
2011
On October 22, 2011, Schroder won re-election to District 77 of the Louisiana House of Representatives. He ran unopposed in the October 22 primary election, assuring his re-election.
2007
In 2007, Schroder was elected to the Louisiana House of Representatives. He defeated Colleen Hawley.[22]
| Louisiana House of Representatives General Election, District 77 (2007) | ||||
|---|---|---|---|---|
| Candidates | Votes | |||
| John Schroder (R)
|
4,821 | |||
| Colleen Hawley (R) | 4,602 | |||
Campaign themes
2023
Ballotpedia survey responses
See also: Ballotpedia's Candidate Connection
John Schroder did not complete Ballotpedia's 2023 Candidate Connection survey.
2017
The following themes were found on Schroder's campaign website.
| “ |
Louisiana has a spending problem, not a revenue problem. We are structurally broken. |
” |
| —John Schroder[24] | ||
Campaign finance summary
Note: The finance data shown here comes from the disclosures required of candidates and parties. Depending on the election or state, this may represent only a portion of all the funds spent on their behalf. Satellite spending groups may or may not have expended funds related to the candidate or politician on whose page you are reading this disclaimer. Campaign finance data from elections may be incomplete. For elections to federal offices, complete data can be found at the FEC website. Click here for more on federal campaign finance law and here for more on state campaign finance law.
Noteworthy events
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| Coronavirus pandemic |
| Select a topic from the dropdown below to learn more.
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On December 3, 2020, the treasurer's office announced Schroder had been hospitalized for coronavirus.[25]
State legislative tenure
Scorecards
A scorecard evaluates a legislator’s voting record. Its purpose is to inform voters about the legislator’s political positions. Because scorecards have varying purposes and methodologies, each report should be considered on its own merits. For example, an advocacy group’s scorecard may assess a legislator’s voting record on one issue while a state newspaper’s scorecard may evaluate the voting record in its entirety.
Ballotpedia is in the process of developing an encyclopedic list of published scorecards. Some states have a limited number of available scorecards or scorecards produced only by select groups. It is Ballotpedia’s goal to incorporate all available scorecards regardless of ideology or number.
Click here for an overview of legislative scorecards in all 50 states. To contribute to the list of Louisiana scorecards, email suggestions to editor@ballotpedia.org.
2017
In 2017, the Louisiana State Legislature was in session from April 10 through June 8. The legislature held its first special session from February 13 to February 22. The legislature held its second special session from June 8 to June 16.
- Legislators are scored on their votes on bills related to business issues.
- Legislators are scored on their votes on bills related to social issues.
- Legislators are scored on their votes on bills related to abortion.
- Legislators are scored on their votes on bills related to higher education issues.
- Legislators are scored on their votes on conservative issues.
2016
| To view all the scorecards we found for this legislator in 2016, click [show]. |
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In 2016, the Louisiana State Legislature was in session from March 14 through June 6. A special session was held from February 14 to March 9 to address the state's budget gap. A second special session was held from June 6 to June 23.
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2015
| To view all the scorecards we found for this legislator in 2015, click [show]. |
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In 2015, the Louisiana State Legislature was in session from April 13 through June 11.
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2014
| To view all the scorecards we found for this legislator in 2014, click [show]. |
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In 2014, the Louisiana State Legislature was in session from March 10 through June 3.
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2013
| To view all the scorecards we found for this legislator in 2013, click [show]. |
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In 2013, the Louisiana State Legislature was in session from April 8 to June 6.
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2012
| To view all the scorecards we found for this legislator in 2012, click [show]. |
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In 2012, the Louisiana State Legislature was in session from March 12 through June 4.
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Sponsored legislation
The following table lists bills this person sponsored as a legislator, according to BillTrack50 and sorted by action history. Bills are sorted by the date of their last action. The following list may not be comprehensive. To see all bills this legislator sponsored, click on the legislator's name in the title of the table.
Committee assignments
2015 legislative session
At the beginning of the 2015 legislative session, Schroder served on the following committees:
| Louisiana committee assignments, 2015 |
|---|
| • Appropriations |
| • House and Governmental Affairs |
| • Joint Legislative Budget |
2012-2013
In the 2012-2013 legislative session, Schroder served on the following committees:
- Appropriations
- Education
- House Committee on Homeland Security, Chairman
- Joint Legislative Budget Committee
- Joint Committee on Homeland Security
- Special Committee on Military and Veterans Affairs
2010-2011
In the 2010-2011 legislative session, Schroder served on the following committees:
- Administration of Criminal Justice
- Appropriations
- Joint Legislative Budget Committee
- Subcommittee on Business Development
See also
2023 Elections
External links
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Candidate Governor of Louisiana |
Personal |
Footnotes
- ↑ 1.0 1.1 Louisiana Department of Treasury, "Treasurer John M. Schroder," accessed June 14, 2023
- ↑ Cite error: Invalid
<ref>tag; no text was provided for refs namedus - ↑ Cite error: Invalid
<ref>tag; no text was provided for refs nameda - ↑ 4.0 4.1 John M. Schroder - Louisiana State Treasurer, “State Treasurer John Schroder Releases Statement about Bond Commission's Decision to Protect Louisiana Citizens' Second Amendment Rights,” August 31, 2018
- ↑ CBS News, “State won't do business with Bank of America, Citi over their gun policies,” August 17, 2018
- ↑ 6.0 6.1 US News & World Report, “Louisiana Bars Banking Giant From Bond Deal Over Gun Policy,” November 18, 2021
- ↑ West Virginia Office of the State Treasurer, “Letter: To Whom It May Concern in the U.S. Banking Industry,” November 22, 2021
- ↑ Jewish News Service, “Ben & Jerry’s to freeze ice-cream sales in ‘occupied Palestinian territory,’” July 19, 2021
- ↑ Office of the Arizona State Treasurer, “Letter to Alan Jope, Chief Executive Officer of Unilever, PLC,” December 9, 2021
- ↑ Jewish News Service, “Unilever reaches deal with Ben & Jerry’s Israel to end boycott,” June 29, 2022
- ↑ State of Utah, “Comment to Department of Labor, Office of Regulations and Interpretations, from Utah and undersigned states. ATTN: Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights,” December 13, 2021
- ↑ 12.0 12.1 State Financial Officers Foundation, “Letter to President Joe Biden from State Financial Officers Foundation.” January 31, 2021
- ↑ CNBC, “Republicans grill Fed nominee Raskin over past views on climate and big energy companies,” February 3, 2022
- ↑ New York Post, “Sarah Raskin withdraws Federal Reserve nomination after Joe Manchin blocks Biden pick,” March 15, 2022
- ↑ John M. Schroder – Louisiana State Treasurer, “Letter to Douglas L. Peterson and Martina L. Cheung, RE: ESG Credit Indicators and Louisiana’s Credit Rating,” May 19, 2022
- ↑ [https://www.treasury.la.gov/_files/ugd/a4de8b_a3666c91d8f542acbda9ffff3942ce84.pdf John M. Schroder – Louisiana State Treasurer, “Louisiana State Treasurer John M. Schroder decries ESG-infused S&P rating process as political tyranny,” May 25, 2022]
- ↑ West Virginia Office of the State Treasurer, “Letter from membership of State Financial Officers Foundation to Mr. Kunal Kapoor, Chief Executive Officer, Morningstar, Inc.,” August 25, 2022
- ↑ John M. Schroder - Louisiana State Treasurer, "Letter to Mr. Laurence D. Fink, CEO, BlackRock, Inc.," October 5, 2022
- ↑ Louisiana Secretary of State, "2015 Elections," accessed January 2, 2015
- ↑ Louisiana Secretary of State, "Candidate Inquiry," accessed October 13, 2015
- ↑ Louisiana Secretary of State, "Official Election Results," accessed November 1, 2015
- ↑ Official Louisiana House of Representatives 2007 General Election Results
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
- ↑ John Schroder for State Treasurer, "Why I'm Running," accessed August 19, 2017
- ↑ The Livingston Parish News', "Louisiana state treasurer hospitalized with COVID-19," December 3, 2020
- ↑ Louisiana Family Forum, "2014 Senate Scorecard," accessed July 11, 2017
- ↑ Louisiana Family Forum, "2013 Senate Scorecard," accessed July 11, 2017
- ↑ Louisiana Family Forum, "2012 Senate Scorecard," accessed July 11, 2017
| Political offices | ||
|---|---|---|
| Preceded by Ron Henson (R) |
Louisiana State Treasurer 2017-2024 |
Succeeded by John Fleming (R) |
| Preceded by - |
Louisiana House of Representatives District 77 2008-2017 |
Succeeded by - |
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