Helena Buonanno Foulkes, who came within a whisper of defeating Gov, Dan McKee in the last gubernatorial primary election, today announced she’ll challenge the governor again in the 2026 primary election for governor. Her announcement was no surprise.
Foulkes made official what virtually all political observers believed was inevitable and has been made even clearer by a robust fundraising campaign. Meanwhile, political insiders say that Speaker of the House K. Joseph Shekarchie has apparently hired a consultant to assess his chances of winning a gubernatorial primary election.
Attorney General Peter Nhronha, who is the only general officer term limited in 2026, has also been rumored to be interested in running for governor, but his fundraising efforts are well behind Shekarchie, Foulkes, and McKee.
In the 2022 primary election, Foulkes was closing fast in the final weeks of the campaign, passing Secretary of State Nellie Gorbea, and coming within three percentage points of McKee. Some observers believed if the campaign lasted another two weeks, Foulkes would have overtaken McKee.
McKee went on to defeat Republican Ashley Marie Kalus, who the GOP recruited from out of state, in 2022.
Meanwhile, the Rhode Island Republican Party wasted no time in attacking Foulkes for what they said is her “failed corporate leadership.”
“Helena Foulkes failed corporate leadership isn’t a resume; it’s a warning,” a GOP press release said. It faulted Floulkes for being a political opportunist, announcing a day after Hasbro said it was leaving Rhode Island. The GOP blamed Foulkes for what it portrayed as a series of corporate failures, often at the expense of labor or consumers, as she moved from Goldman Sachs to CVS to Hudson Bay, the parent company of Saks Fifth Avenue.
For her part, Foulkes, in her announcement, touted her corporate success, and promised to be a voice for workers.
While the GOP attacked her for her performance at CVS, she said her experience at CVS is a window into how she will lead. “My management philosophy at CVS was that to make the company successful, you listen, you put the customer first…. You didn’t prioritize the short-term bottom line. That’s why we removed cigarettes from all of our stores. My mom died of lung cancer—so it was really personal to me. It cost us $2 billion a year in revenue. And don’t think for a second that was an easy thing to do or that everyone was instantly on board.”
Foulkes, the niece of Chris Dodd, the longest serving U.S. Senator in Connecticut history (30 years), will enter this race with considerable experience from the 2022 primary election, and considerable statewide recognition. While Shekarchie is well-known in political circles and to his Warwick constituents, he’ll be challenged to win further statewide recognition.
Governor McKee has been an unpopular governor, with a favorability rating in a late spring poll of 32 percent. His administration has been plagued by some controversy, the collapse of the Washington Bridge, among the nation’s worst infrastructure, and, the announcement yesterday that one of Rhode Island’s marquee companies, Hasbro, is leaving the Ocean State for neighboring Massachusetts.
Foulkes noted all these issues and said “What you’ll get from me is a governor who cares that the status quo isn’t working for Rhode Islanders. You’ll get a governor with the competence, guts and a sense of urgency to do better, and the compassion and empathy to make sure everyone is along for the ride.”
When it comes to fundraising, while Shekarchie is the leader with nearly $4 million in his campaign fund, Foulkes outpaced everyone in the second quarter by raising $636,125 from individuals, more than triple what McKee raised from individuals, and a third more than Shekarchie.
Here’s a look at each of the candidates and potential candidates’ finances for the last quarter that ended on June 30. The next quarter ends Sept. 30, with reports due Oct. 31:
- Shekarchie: Total cash available, $3,858,819. During the second quarter he raised $434,984 from individuals and $37,250 from Political Action Committees.
- Foulkes: Total cash available, $2,105,533. During the second quarter she raised $636,125 from individuals, with no contributions from Political Action Committees.
- McKee: Total cash available, $879,207. During the second quarter he raised $201,450 from individuals and $4,300 from Political Action Committees.
- Neronha: Total cash available, $119,203. During the second quarter he raised just $60 from individuals, and nothing from Political Action Committees.
