Gov. Bruce Rauner (R) went after billionaire J.B. Pritzker (D) for his finances on Tuesday, “suggesting that the only way the billionaire could have reported just $16 million in income last year was if he was a lousy investor or a sneaky tax dodger — or both.”
“The Rauner campaign released a statement on Tuesday morning, accusing the Pritzker family of a ‘history of off-shore holdings and avoiding taxes.’ At issue is the lack of information about Pritzker’s trusts.
“In response, the Pritzker campaign eventually denied the tax evasion allegations,” saying “the trusts involve ‘other people, businesses, etc and it would be improper to reveal this info because he is running for governor.’” (Chicago Sun-Times)
OFFSHORE ACCOUNTS. Even as Rauner attacked Pritzker for offshore assets, he admitted “that some of his own fortune could be socked away there as well. … Rauner had his own troubles explaining his tax bill in 2014, after his returns revealed that most of the millions he’d made in the years leading up to his candidacy had been taxed at 15 percent, less than half the top federal rate for the wealthy” by employing a tax avoidance strategy. “Rauner’s economic disclosure forms when he first ran for governor revealed that he was an investor in several of” the private equity form “GTCR’s investment pools registered in the Cayman Islands.
“Asked Tuesday about his current holdings in offshore investments, Rauner dismissed the question as ‘spin.’” (Chicago Tribune)
BISS BITES. While Rauner and Pritzker sparred over their finances, state Sen. Daniel Biss’ (D) campaign called the candidates “two sides of the same shiny gold coin,” adding that “success in business doesn’t equate to success in government.” (Capitol Fax)
What We're Following See More »
"The White House is backing a $1.3 trillion omnibus spending bill despite opposition from some House conservatives ... 'The President and the leaders discussed their support for the bill, which includes more funds to rebuild the military, such as the largest pay raise for our troops in a decade, more than 100 miles of new construction for the border wall and other key domestic priorities, like combatting the opioid crisis and rebuilding our nation’s infrastructure,' White House press secretary Sarah Huckabee Sanders said in a statement." The details of the bill are expected to be released later today.
"Administration officials said they expect Congress to pass a stopgap bill to avert a third government shutdown this year as lawmakers scramble to finalize a must-pass omnibus spending bill. White House legislative affairs director Marc Short told CNN Tuesday that negotiators are getting closer to reaching an agreement, but there are "too many obstacles to tackle" for the omnibus bill to make it out of the lower chamber by Thursday."