Peoria Public Radio Staff
Mon August 4, 2014
Democrats blast Rauner for offshore investments
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.