Republican candidate for governor Bruce Rauner releases 2013 tax return

Eric Horng Image
Friday, October 10, 2014
Bruce Rauner releases 2013 tax return
Just weeks before the November 4 election, Bruce Rauner finally releases his 2013 tax returns.

CHICAGO (WLS) -- Just weeks before the November 4 election, Bruce Rauner finally releases his 2013 tax returns, showing the Republican nominee for Illinois governor earned nearly $61 million last year.

Rauner had until October 15 to file his return after getting an extension by the IRS. This release of his return comes on the final Friday before that deadline, at the start of a holiday weekend.

Rauner's tax return lists his occupation as "executive" and home city "Winnetka."

He filed jointly with his wife Diana. Their total 2013 income nearly $61 million, on which they paid more than $14 million in federal taxes, or 23.5 percent.

The Rauners also paid nearly $3 million in state taxes.

Rauner, in a statement, painted his wealth as an asset, saying, "I'm nobody that nobody sent and independent of the special interests."

"I don't think there's an October surprise because it's not like we didn't know he was rich before," said ABC7 Eyewitness News political analyst Laura Washington. "He made a little bit more than he did last year, but we know he's wealthy. Pat Quinn has reminded us of that again and again."

The return lists no W-2 income, no wage or salary.

Instead, he earned nearly $50 million in capital gains, profits from stocks and other investments. The details of which are unclear because Rauner did not release the IRS-required attachment with that information.

"We need to find out where his income comes from," said Barbara Flynn Currie, a supporter of incumbent Governor Pat Quinn. "I think we should find out whether he has any conflicts of interest. And you can't tell that without knowing the detail."

Rauner listed more than 410 million in deductions, $5 million of which he says were donations, including a $1 million dollar gift to the American Red Cross for relief efforts following the tornado in downstate Washington.

Despite those donations, the Quinn campaign painted Rauner as less than charitable.

"He made $60 million last year," said Currie. "This from a man who has proposed that we cut the minimum wage, maybe even eliminate the minimum wage."

Rauner says his position on the minimum wage has changed, and he no longer supports cutting it. His campaign Friday night declined our request for an interview.

Copyright © 2024 WLS-TV. All Rights Reserved.