Timothy P. Cahill
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Timothy Patrick Cahill (born December 1, 1958) is an American former politician who served as
Massachusetts Treasurer and Receiver-General The treasurer and receiver-general of Massachusetts is an elected constitutional officer in the executive branch of the U.S. state of Massachusetts. Originally appointed under authority of the English Crown pursuant to the Charter of the Massach ...
and was an
independent Independent or Independents may refer to: Arts, entertainment, and media Artist groups * Independents (artist group), a group of modernist painters based in Pennsylvania, United States * Independentes (English: Independents), a Portuguese artist ...
candidate in the
2010 Massachusetts gubernatorial election The 2010 Massachusetts gubernatorial election was held on November 2, 2010. Incumbent Democratic Governor Deval Patrick was re-elected to a second term. Party primaries were held on September 14, though all four candidates ran unopposed in t ...
.


Early life

Cahill graduated from the
Boston University College of Arts and Sciences The Boston University College of Arts and Sciences (CAS), which includes the Graduate School of Arts and Sciences (GRS), is the largest school at Boston University, offering Bachelor of Arts degrees in 25 departments and nearly 25 interdisciplina ...
in 1981. Cahill is second generation Irish. His parents Eamon Cahill, a bricklayer and Eileen Cahill (nee O’Shaughnessy) a homemaker emigrated from Thurles, Co.Tipperary in the 1930s.


Early political career

Cahill's first attempt to be elected to political office came in 1981, when he unsuccessfully ran for a seat on the Quincy City Council. He ran again in 1987, at the age of 29, and was elected, where he served until 2003. He was reelected seven times and served as the chair of the finance committee. In 1996, Cahill was elected as Norfolk County treasurer and served until 2002, when he began his campaign for state treasurer. In the 2002 Democratic primary, Cahill won a four-way race that included another candidate with the same surname, Michael P. Cahill, and was elected state Treasurer in the general election. During Cahill's tenure as treasurer, the Massachusetts Lottery raised $7.2 billion. Much of the money went to cities and towns in the form of local aid. On July 7, 2009, ''The Boston Globe'' reported that Cahill was planning to leave the Democratic Party. On September 9, 2009, Cahill announced that he would run in the
2010 Massachusetts gubernatorial election The 2010 Massachusetts gubernatorial election was held on November 2, 2010. Incumbent Democratic Governor Deval Patrick was re-elected to a second term. Party primaries were held on September 14, though all four candidates ran unopposed in t ...
as an independent.


State Treasurer


Massachusetts School Building Authority

During his tenure as state Treasurer, Cahill was Chairman of the seven-member Board of Directors. He filed the legislation to reform the School Building Assistance Program (SBA) in 2004. He worked with Governor
Mitt Romney Willard Mitt Romney (born March 12, 1947) is an American businessman and retired politician. He served as a United States Senate, United States senator from Utah from 2019 to 2025 and as the 70th governor of Massachusetts from 2003 to 2007 ...
and the legislature to pass that legislation. Prior to the reform, Governor Romney said the SBA could be "the next Big Dig." As chair of the newly authorized Massachusetts School Building Authority (MSBA) that received the prior SBA's responsibilities and debts, Cahill lead the initial years of the entity's activities. The MSBA has received praise from members of both parties for its fiscal management and effectiveness.


Pension Reserves Investment Management Board

As Treasurer, Cahill served as Chairman of the nine-member Pension Reserves Investment Management (PRIM) Board, which is charged with the general supervision of the Pension Reserves Investment Trust Fund.


The Massachusetts Lottery

Cahill was Chairman of the five-member Lottery Commission, which was established by the Legislature in 1971 to provide local aid to Massachusetts cities and towns, as well as the state Arts Council and the Massachusetts Cultural Council. As of April 24, 2010,
Massachusetts Lottery The Massachusetts Lottery was established on September 27, 1971, following the legalization of gambling by the Massachusetts General Court, the legislature of the Commonwealth. The Lottery is administered by the Massachusetts State Lottery Comm ...
FY10 sales are about $3.636 billion while FY09 sales during same period were $3.645 billion, a dropoff of 0.25 percent from year to year. The state's lottery will post record profits that year - $903 million - while lottery sales stayed even. Cities and towns expect to receive an extra $44 million from lottery revenue. Cahill has argued that the increased revenues are the product of spending cuts and new games. Since taking office in 2003, the Lottery has returned $7.3 billion in Local Aid to cities and towns.


Massachusetts health care reform

Cahill is a vocal critic of the state's health care reform bill, often called "Romneycare" for Governor Mitt Romney, who signed the legislation into law, and which Cahill has called "a fiscal train wreck" that has "blown a hole in the Commonwealth's budget." While projected to cost the taxpayers only $88 million in 2006, the actual cost of the Bay State's healthcare system was over $4 billion.


2010 campaign for governor

Cahill ran as an independent for the office of
governor of Massachusetts The governor of the Commonwealth of Massachusetts is the head of government of the Commonwealth (U.S. state), Commonwealth of Massachusetts. The governor is the chief executive, head of the state cabinet and the commander-in-chief of the commonw ...
, with former State Representative Paul Loscocco (R) as his running mate. He ran against incumbent Governor
Deval Patrick Deval Laurdine Patrick (born July 31, 1956) is an American politician who served as the 71st governor of Massachusetts from 2007 to 2015. He was the first African Americans, African-American Governor of Massachusetts and the first Democratic Pa ...
(D) and the former Harvard Pilgrim Healthcare CEO
Charlie Baker Charles Duane Baker Jr. (born November 13, 1956) is an American politician serving as the sixth president of the National Collegiate Athletic Association, since 2023. A member of the Republican Party, he served as the 72nd governor of Massa ...
(R). Some pre-election polls showed that Cahill would draw votes from both Patrick and Baker equally, which showed his moderate and centrist position in the race. A ''
Boston Globe ''The Boston Globe,'' also known locally as ''the Globe'', is an American daily newspaper founded and based in Boston, Massachusetts. The newspaper has won a total of 27 Pulitzer Prizes. ''The Boston Globe'' is the oldest and largest daily new ...
'' poll, published on September 26, 2010, showed Cahill to be drawing more votes from Patrick than from Baker. On October 1, 2010, Loscocco announced he was withdrawing from the race for lieutenant governor and was endorsing Baker although it was too late to remove his name from the ballot as Cahill's running mate. Speculation immediately began over Loscocco's motives and the role of the Baker camp in the decision in which Baker joined Loscocco for the announcement. Cahill filed a lawsuit that alleged that Loscocco had colluded with former Cahill Republican staffers to orchestrate his abandonment and e-mails exchanged between Loscocco's top advisor. The lawsuit sought to prevent the staffers from sharing proprietary information with the Baker campaign. Cahill received 8% of the vote at the November 2, 2010 general election.


Post-political career

After leaving the office of treasurer, Cahill became a securities broker in November 2011 with Compass Securities Corporation of Braintree, Massachusetts. Cahill ended his employment with Compass on March 7, 2017, shortly after he had paid off his $100,000 civil fine and completed his probationary period from a 2013 settlement with Massachusetts Attorney General
Martha Coakley Martha Mary Coakley (born July 14, 1953) is an American lobbyist, lawyer, and former politician who served as Attorney General of Massachusetts from 2007 to 2015. She is most notable for having lost a race for the United States Senate in what was ...
(see next section). In July, 2017, Cahill began as the president and executive director of the Quincy Chamber of Commerce. At the time, he stated that he had no interest in running for public office again.


Corruption trial

Adam Meldrum, Cahill's campaign manager during his 2010 campaign for governor, alleged that Cahill colluded with the Massachusetts Lottery, which is overseen by the state treasurer's office, to run an ad favorable to him during the campaign. The ad, paid for by the Commonwealth, described the Massachusetts Lottery "the most successful state lottery in America" and "consistently well-managed," which echoed themes from Cahill's gubernatorial campaign. Both Cahill and Massachusetts Lottery Director Mark Cavanagh denied the allegations. On October 18, e-mails released in conjunction with Cahill's lawsuit appeared to reveal that the campaign attempted to have the Lottery air a series of ads that praised the lottery's management. In the e-mails, Cahill's campaign media strategist Dane Strother told Meldrum to "Get the Lottery immediately cutting a spot and get it up...Needs to focus on the Lottery being the best in the country and above reproach." Two days later, Cahill's senior adviser Scott Campbell wrote, "I think the first thing is to figure out what/where/how we want to do this .. with Lottery people." On April 2, 2012, Cahill was indicted by a
grand jury A grand jury is a jury empowered by law to conduct legal proceedings, investigate potential criminal conduct, and determine whether criminal charges should be brought. A grand jury may subpoena physical evidence or a person to testify. A grand ju ...
on charges that he used $1.65 million in Massachusetts State Lottery advertising to aid his campaign for governor in 2010. On December 12, 2012, a mistrial was declared in the corruption case after the jury failed to reach a verdict on two counts of conspiracy. Attorney General
Martha Coakley Martha Mary Coakley (born July 14, 1953) is an American lobbyist, lawyer, and former politician who served as Attorney General of Massachusetts from 2007 to 2015. She is most notable for having lost a race for the United States Senate in what was ...
said that she would review her options before she decided whether to pursue another trial. On March 1, 2013, Cahill agreed to pay a $100,000 civil fine in exchange for the prosecution dropping its criminal corruption case against him. In February 2017, Cahill posted to his FINRA Broker Check record that the "monetary fine (sic) paid in full as of 1/27/2017 and on 2/1/2017 the court dismissed the case; all four charges were dismissed after the completion of the probation period."


Notes


External links


Follow the Money - Timothy P. Cahill
2006 campaign contributions
Project Vote Smart - Timothy P. Cahill (MA)
profile

Investment Banker {{DEFAULTSORT:Cahill, Tim State treasurers of Massachusetts Living people 1959 births Boston University College of Arts and Sciences alumni Politicians from Quincy, Massachusetts Massachusetts city council members Massachusetts Democrats Massachusetts independents Candidates in the 2010 United States elections Politicians from Norwood, Massachusetts American investment advisors County treasurers of Norfolk County, Massachusetts