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

Report: State Unemployment Rate Drops Again

Fresh
jobs

Lowest in more than 6 years

in Local

State Lawmakers May Return to Springfield Earlier Than Planned

state_capitol_3

But will Senate and House leaders agree?

in Local

Jacksonville Area Teacher Arrested

handcuffs2

ISP working with Morgan County State's Attorney

in Local

Durbin Weighs in on Cuba Relations

local_news_generic

For the the first time since 1961, the United States is moving towards official diplomatic relations with Cuba — and…

in Local

Hundreds Turn Out in Chatham to Talk Water

Chatham2

Complaints about water quality in Chatham pour in