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Grossman defeats Polito in Mass. treasurer race

BOSTON --Former Democratic National Committee Chairman Steve Grossman will be the new state treasurer in Massachusetts.

Grossman on Tuesday defeated Republican state Rep. Karyn Polito of Shrewsbury in a hard-fought race to succeed Treasurer Timothy Cahill, who ran for governor as an independent.

It will be the first elective office for the 64-year-old Grossman, a businessman and longtime Democratic activist. He ran unsuccessfully for governor in 2002.

The treasurer is the state's top money manager and oversees the lottery. Grossman called for an increase in lottery advertising and proposed taking $100 million from the state pension fund for a job creation initiative.

Polito called for lowering taxes and state spending. 

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