Helena Foulkes kicks off 2026 campaign. Her walk-off song? Lizzo’s ‘It’s about damn time’

From a seven-digit campaign account to high-profile public appearances and a growing payroll, all signs pointed to Helena Buonanno Foulkes’ return to Rhode Island politics.

But the former CVS executive and 2022 Democratic gubernatorial candidate couldn’t resist one last teaser.

“2026 is going to be a very big year,” she told the standing-room only crowd at Roger Williams Park Casino Tuesday. “I am excited to share today, wait for it, that I am going to be a grandmother.”

Seconds later, Foulkes confirmed the actual reason for the splashy event billed by her campaign as a “major announcement” — her candidacy in the 2026 gubernatorial race. The announcement cements a rematch between Foulkes and Gov. Dan McKee, who faced off in a four-way Democratic gubernatorial primary in 2022. Foulkes lost to McKee in 2022 by three percentage points.

The 61-year-old Providence resident has already built a bigger war chest for her comeback, with $2.1 million cash on hand as of June 30 compared with McKee’s $879,000, according to reports filed with the Rhode Island Board of Elections. Foulkes recently hired veteran campaign consultant Eric Hyers, who managed successful congressional campaigns for former U.S. Rep David Cicilline and former Rhode Island Gov. Gina Raimondo. McKee’s campaign manager left three weeks ago, months after he was hired.

Hours before Foulkes made her 2026 candidacy official Tuesday, McKee’s campaign released a digital attack ad on YouTube doubling down on Foulkes’ role in the opioid crisis. The 60-second ad and corresponding website, sheknew.com, cites the late 2024 U.S. Department of Justice lawsuit, claiming CVS executives perpetuated the opioid epidemic, with a top-down leadership style that prevented employees from speaking up against wrongdoings. Foulkes left her post as president of CVS Pharmacy Inc. in 2018, ending a 25-year career with the Woonsocket company that included four years leading its pharmaceutical arm. Her executive role partially overlapped with the time frame of the DOJ complaint.

The 97-page federal lawsuit against CVS never identifies Foulkes by name.

Foulkes in a sit-down interview following her announcement on Tuesday defended her record at CVS, as well as the company overall, pointing to its efforts starting in 2017 to reduce opioid misuse and addiction by limiting supply, expanding access to overdose reversal drugs and increasing efforts to prevent prescription fraud and abuse.

CVS in a statement Tuesday called McKee’s attack ad “unfortunate and discouraging.”

“It’s also inappropriate to disparage and intentionally misrepresent the contributions of our 7,000 colleagues who live and work in a state we’ve called home for more than 50 years,” the company stated.

The blame game 

Turning the heat back on McKee Tuesday, Foulkes pointed to the most recent major employer to jump ship under his watch. On Monday, Pawtucket toy and gaming empire Hasbro Inc. announced it would abandon its century-old Rhode Island roots in favor of a new headquarters in the Boston Seaport by the end of 2026. 

The loss of Hasbro was far from Foulkes’ only critique of McKee. From failure to provide the funds necessary to prevent cuts to Rhode Island Public Transit Authority to the ongoing delays and rising costs over the Washington Bridge rebuild, she made her dissatisfaction with the four-year incumbent clear. 

“Five years, people,” Foulkes said, referring to the time lapse between when the westbound highway shuttered, and the expected November 2028 completion date. “I gave birth to four children in four-and-a-half years.”

Blasting the state’s leadership broadly for “incompetence” and bureaucracy,” she took aim at its bloated spending, including the $14.3 billion fiscal 2026 budget.

“Last session, our leaders did what Rhode Island has done for years,” Foulkes said. “Tape together a budget, add some new fees and raise taxes, throw in an accounting gimmick or two, make some insiders and lobbyists happy. Fail to be accountable. Fail to plan.”

Later, in an interview Foulkes acknowledged that the governor does not have sole authority over the state budget, which is largely shaped by the Rhode Island General Assembly, and specifically, the House Speaker. 

“But I think the governor could have asserted a lot more control,” she said of McKee’s role in crafting the final fiscal 2026 spending plan. As for McKee’s decision not to sign the final product, but not to veto it either, Foulkes concluded, “That seems like a very weak way to go about building a budget.”

In contrast, she described herself as a candidate with “guts,” willing to take a stand, whether it be on full funding for public transportation, the Republican-backed push for a state inspector general, or President Donald Trump’s administration. Her critique of Trump was even more scathing than her words for McKee. Foulkes called the president “reckless, irresponsible and belligerent.”

Taking a stand

While McKee has come out swinging against the Trump administration in recent weeks after federal regulators ordered work to stop on the almost completed Revolution Wind order, he has been more muted on consequences of federal budget cuts, grant suspensions and immigration and education policies.

“When I look at all the Democratic governors, I don’t think that Gov. McKee has been at all on the front line,” Foulkes said later. “My biggest criticism is that he’s not planning ahead for Rhode Islanders.”

She concluded her 20-minute speech by declaring, “our current governor does not deserve a third term,” punctuated by singer Lizzo’s pop anthem, “It’s about damn time.”

The crowd was a who’s who of state officials, business executives and community leaders, including Democratic Sens. Sam Zurier, of Providence, Lou DiPalma, of Middletown, and Mark McKenney, of Warwick, and Democratic Rep. Robert Phillips, of Woonsocket. Rhode Island Democratic Party Chair Liz Beretta-Perik, Johnston Mayor Joseph Polisena Jr. and Rhode Island Coalition Against Gun Violence Executive Director Melissa Carden also attended.

Foulkes started her day with breakfast in Central Falls with Mayor Maria Rivera and Dr. Pablo Rodriguez, a public health and political commentator with his own radio show. Her afternoon agenda included talking to East Providence business owners, followed by a community gathering at an East Providence resident’s home, according to her campaign. Foulkes plans to hold community meetings in all 39 cities and towns this fall.

Two other potential contenders for the 2026 governor’s race, House Speaker K. Joseph Shekarchi, and 2022 Republican candidate Ashley Kalus, each weighed in with individual statements Tuesday.

Shekarchi, who remains the top fundraiser in the state with more than $3.8 million cash on hand, welcomed Foulkes’ candidacy.

“I applaud anyone willing to pursue public service, which from my experience is challenging, yet rewarding,” Shekarchi said. “The voters will decide next year which candidate for governor has the strongest record of delivering for working families and the best ideas to lead Rhode Island.”

Kalus denounced Foulkes for a track record of “failed corporate leadership” and the timing of her announcement on the heels of Hasbro’s departure as “political opportunism.”

“Her campaign isn’t a bid for leadership; it’s a liquidation sale for the state of Rhode Island,” Kalus said. “Voters deserve better than another well-connected insider cashing out at our expense.”