Politics
Rhode Island governor candidates clash over financial disclosures after Foulkes reports $3 million in 2025 income
Democrat Helena Foulkes released the first pages of her joint 2025 tax return, reporting nearly $3 million in income and about $889,000 in federal and state taxes. She criticized independent candidate Ken Block for not releasing his personal returns; Block said his businesses make those filings unsuitable for public release and that he will meet required disclosure rules.
Democratic candidate for Rhode Island governor Helena Foulkes reported nearly $3 million in household income for 2025, as she challenged independent rival Ken Block to release his personal tax returns.
Foulkes’ campaign provided the first two pages of her joint federal tax filing with her husband, William, on Monday, Oct. 19. The pages show totals but do not identify the specific sources of income. They list more than $460,000 in employment income, nearly $700,000 in other income, and more than $1.8 million in capital gains and dividends.
The couple paid nearly $713,000 in federal income taxes and more than $176,000 in Rhode Island taxes, according to the filing.
Foulkes’ 2025 state ethics disclosure separately lists compensation in stock or equity for board service: between $200,000 and $500,000 from Costco, the same range from Follett Higher Education Group, $100,000 to $200,000 from Salesforce, and $50,000 to $100,000 from Skillsoft. Follett was also listed as a source of W-2 income. Foulkes was president of CVS Pharmacy from 2014 to 2018.
After releasing the tax figures, Foulkes’ campaign accused Block of withholding information about his income while using his own money to support his campaign. It said voters should know where his money comes from.
Block’s campaign said he is not releasing his personal returns because they include financial information about multiple businesses. It said he would continue to comply with required financial disclosure rules, and accused Foulkes of trying to divert attention from her campaign’s support from labor unions and her past role at CVS. Those were claims from the campaign; the disclosure information alone does not establish them.
Block’s 2025 Rhode Island ethics filing lists between $200,000 and $500,000 in income from his company, Simpatico Software, and between $1,000 and $10,000 in royalties from his book, “Disproven.” The book recounts his work for the Trump campaign examining claims of election fraud, which he said he did not find.
The dispute puts candidates’ financial transparency at the center of the governor’s race. Republican Aaron Guckian and two other independent candidates are also running.