Foulkes Surpasses McKee in Fundraising as 2026 Governor's Race Nears

Financial Disparity in the Democratic Primary Race

Governor Dan McKee is facing a growing financial challenge against his likely Democratic primary opponent, former CVS executive Helena Foulkes. Recent campaign finance reports highlight a significant gap in fundraising between the two candidates, which could impact their ability to effectively campaign in the upcoming election.

McKee’s campaign raised $205,000 during the three months ending June 30, leaving him with $879,000 in his campaign account. In contrast, Foulkes’ campaign reported raising over $636,000 in the same period, bringing her total campaign funds to $2.1 million. This substantial difference in funding suggests that Foulkes may have more resources to run a robust campaign and reach voters across the state.

McKee narrowly defeated Foulkes in the 2022 gubernatorial primary, but she has been preparing for a rematch ever since. While no public polling has been conducted yet to gauge voter preferences for the September primary, recent surveys indicate that McKee’s job approval rating is at or below 25% in three out of four cases. The fourth survey showed a higher rating of 45%, suggesting some level of support among voters.

McKee’s campaign manager, Rob Silverstein, emphasized the governor's record of fighting for Rhode Islanders and delivering on key issues. He highlighted McKee’s RI 2030 plan as a roadmap for future progress and his commitment to standing up for the state’s values against national political trends.

Silverstein also noted that the majority of McKee’s contributions came after he hired a full-time finance director toward the end of the quarter. This could signal an improvement in his fundraising efforts. Additionally, he pointed out that McKee had less cash on hand at a similar point in the 2022 election cycle when he was still early in his term.

Political analyst Joe Fleming from 12 News observed that McKee’s low poll numbers suggest he needs to significantly increase his fundraising if he wants to counter the messages coming from Foulkes. “He needs to get a very strong positive message out, and that takes a great deal of money,” Fleming said. However, he also noted that the smaller turnout in a Democratic primary means campaigns need to focus on persuading a limited group of voters.

Despite the challenges, Fleming acknowledged that the Democratic primary will likely be expensive, given the high stakes involved.

Foulkes’ campaign did not provide additional comments beyond the financial figures. She has not officially announced her candidacy yet, but she has been actively holding fundraisers and attending community events throughout the state. She was also scheduled to speak at a rally aimed at saving the birthing center at Newport Hospital.

It remains uncertain whether other Democrats will enter the race. Attorney General Peter Neronha is considering his options and plans to make a decision by the end of the summer. House Speaker Joe Shekarchi has also been mentioned as a potential candidate.

The race for the Democratic nomination is shaping up to be competitive, with both candidates vying for the support of voters in what could be a closely contested primary. As the campaign season progresses, the financial advantage of Foulkes may play a critical role in determining the outcome.