News

Quinn Campaign Questions Rauner’s Cayman Connection

Quinn Campaign Questions Rauner’s Cayman Connection

The debate over Bruce Rauner’s taxes now has an international flair.

The Chicago Sun-Times has reported that Rauner had offshore investments in the Cayman Islands, a British territory that has no income tax. Democratic lieutenant governor nominee Paul Vallas (pictured) says while having offshore holdings is legal, he feels Rauner should offer more details on his investments.

“It’s not an issue of whether or not it’s legal, it’s whether or not it’s right,” Vallas said, “and the only way we can determine that, the only way we can determine whether it’s right and it’s ethical is full disclosure.”

The Rauner campaign says most of Rauner’s offshore holdings were related to his former investment company, GTCR. In a statement, Rauner spokesman Mike Schrimpf said “Bruce’s tax obligations were not reduced by a single penny,” and criticized the plan supported by Gov. Pat Quinn to keep the state’s income tax rate at 5 percent.

Vallas says the Cayman holdings should encourage Rauner to release more detailed tax information. Rauner has been granted an extension on filing his 2013 income tax return, and his campaign says those returns should be released prior to the November election.

 

Recent Headlines

in Local

Springfield Diocese Removes Pastor Accused of Abuse

catholic_cross

The alleged misconduct occurred in Jacksonville in 1980.

in Local

McFarland Becomes Chairman of “Invest in 186″

5-5-15 Scott McFarland

Scott McFarland was announced as the new chairman of "Invest in 186"

in Local

Fallen Corrections Officers Honored

5-5-15 IDOC Memorial

The community of people who work in the state's corrections and juvenile justice systems came together to honor their fallen comrades.

in Local

Illinois Gas Prices Creep Upward

gas2

The statewide average stands Tuesday at $2.69

in Local

Coroner: No Trauma Present in Body Found Behind Shopping Center

medical

A man found dead behind a Springfield shopping center did not die from a traumatic experience.