State News
6:12 pm
Mon August 4, 2014

Democrats blast Rauner for offshore investments

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.