Once Republican Massachusetts Governor Charlie Baker announced last week he won’t seek reelection next year, speculation quickly arose as to whether Department of Labor Secretary Marty Walsh would abandon his cabinet post to run for governor.
Walsh—who served as the Mayor of Boston before leaving earlier this year to join President Joe Biden’s cabinet—is reportedly mulling over a possible decision to return home and run for governor, according to Politico, citing two sources with knowledge of his deliberations.
Walsh has yet to respond directly to requests for comment on the issue, beyond saying this in a Friday interview with Spectrum News: “Well, I never said I was considering running. Everyone else says I’m considering running. So I’ll leave it at that.”
He also reiterated that he is “focused on what I’m doing right here and now” as Labor Secretary.
But the odds of him jumping into the race increased when Massachusetts Lieutenant Governor Karyn Polito surprisingly announced she will not run for governor in Baker’s place. Without the popular incumbent and his heir apparent in the race, Walsh could be tempted by what appears to be a relatively smooth road to office in his home state.
According to the Politico report, Daniel Koh, Walsh’s chief of staff at the DOL, is “seriously considering” a run for lieutenant governor, setting up the potential for a Walsh-Koh ticket in Massachusetts.
“Not having to run against an incumbent makes it a really strong likelihood that a Democrat will win,” Massachusetts Democratic Party Chair Gus Bickford said in a phone interview with Politico.
One factor that could influence Walsh’s decision is whether or not state Attorney General Maura Healey decides to run for governor, as she is widely considered the Democrats’ best chance to reclaim the post in the deep blue state. Healey said last week that her 2022 decision was for “another day.”
Three other progressive Democrats are already in the race: state Sen. Sonia Chang-Diaz, former state Sen. Ben Downing and Harvard professor Danielle Allen. But they would all be expected to take a back seat to either Healey or Walsh entering the race.
“If Healey sits it out, I could easily see Walsh running,” Boston Globe Columnist Adrian Walker wrote recently. “Because, at bottom, Marty is a Boston guy. He may have had an attack of Potomac fever, but don’t be surprised if it passes soon.”
Meanwhile, Baker, a Republican who has opposed former President Donald Trump, is reportedly “fed up” with opposition from his own party because he is not loyal to the former President. Trump previously endorsed conservative Republican Geoff Diehl’s decision to challenge Baker in the Republican primary. Baker told reporters he spoke with Walsh ahead of his announcement not to seek reelection.
As Labor Secretary, Walsh has been traveling lately in efforts to drum up support for the Biden Administration’s Build Back Better legislation.
Back in October, the DOL offered guidance in the form of a proposed rule that would remove barriers to plan fiduciaries’ ability to consider climate change and other environmental, social and governance (ESG) factors when they select investments and exercise shareholder rights.
The DOL is also officially looking to change the definition of fiduciary to “more appropriately define when persons who render investment advice for a fee to employee benefit plans and IRAs are fiduciaries within the meaning of section 3(21) of ERISA and section 4975(e)(3) of the Internal Revenue Code.”
In April, the DOL for the first time issued cybersecurity guidance for plan sponsors and fiduciaries regulated by ERISA, and plan participants and beneficiaries.
SEE ALSO:
• Department of Labor Recovered a Hefty Amount for Participants
• DOL’s Proposed ESG Rule ‘A Backdoor Rewrite of ERISA’: WSJ
• New ESG Guidance from DOL Seeks to Reverse ‘Chilling Effect’ of Trump-Era Rules
Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.
