Democrats blast Rauner for offshore investments

Aug 4, 2014

Democrats are criticizing the Republican candidate for Illinois governor for his links to offshore investments in the Caribbean. 

The Chicago Sun-Times first reported Bruce Rauner’s connections to at least five offshore investments in the Cayman Islands, long considered a haven for wealthy Americans who want to avoid higher U.S. taxes.

That prompted Democratic Lieutenant Governor candidate Paul Vallas to host an ON-shore press conference, aside the lapping waves of Lake Michigan. Vallas pressured Rauner to release more detailed tax information about his investments.

"I’m not saying that, uh - that he shouldn’t run for office ‘cause he’s a - ‘cause he’s a rich guy. But what I’m saying is: We are running for a public office where  transparency and accountability are critically important. And he’s avoided both."

Rauner’s campaign says the Cayman Islands investments did NOT reduce the candidate’s personal tax burden. A spokesman says three of the five investments were linked to Rauner’s former venture capital firm - which he left in 2012.  

Rauner has said he’ll release his 2013 tax returns this fall.  He’s only released partial returns for the three years prior.