Quinn says Rauner avoiding overseas investment questions

Tuesday, August 5, 2014
Quinn says Rauner avoiding overseas investment questions
Illinois Governor Pat Quinn is accusing his opponent, Republican Bruce Rauner, of avoiding questions about his investments in the Cayman Islands.
WLS-WLS

CHICAGO (WLS) -- Illinois Governor Pat Quinn is accusing his opponent, Republican Bruce Rauner, of avoiding questions about his investments in the Cayman Islands.

Rauner is reportedly at his ranch in Montana for a vacation and a fundraiser.

Quinn took aim at the offshore bank accounts held by Rauner's investment firm and the republican's support for the right of American-based corporations to move overseas.

"These billionaires and these runaway corporations, they're not patriotic in my opinion," Quinn said.

The governor's attack began after he announced state tax credits to create 500 new jobs at a West Loop healthcare company. He noted that Rauner now acknowledges five offshore accounts in the Cayman Islands the Caribbean nation known for the secrecy of its banking system.

"Bruce Rauner is not running for governor of the Cayman Islands," said Quinn. "He's running for Governor of Illinois and I think we're entitled as people of Illinois in this campaign to know the facts."

Rauner released two new television commercials criticizing the governor's tax policies and promising to freeze property taxes if he's elected.

"No more property tax increases without voter approval," the ad states.

In light of the Cayman accounts, the governor has repeated his demand that Rauner release his 2013 tax return immediately. The republican told ABC7 Eyewitness News last week he would not do so until October 15, only five days before the start of early voting.

"Since he's a very wealthy man, I'm not going to ask him to do something he doesn't want to do," said Illinois Senator Mark Kirk (R).

Meanwhile, Kirk's colleague, Democrat Dick Durbin, questioned why Rauner's firm has Cayman Island accounts.

"I think the companies that do that have something to hide or at least trying to avoid taxes," Durbin said.

"His right to hide this information is not more important than the people of Illinois' right to know," said Quinn.

A spokesman for the Rauner campaign responded to Quinn and Durbin with the following statement:

"I don't know who Quinn is talking about, but it isn't Bruce. Bruce and Diana haven't used overseas accounts to reduce their taxes and they donated tens of thousands to military and veterans charities -- just recently, Bruce attended an honor flight. If Pat Quinn wants to throw around words like unpatriotic, he should think about all the veterans who still can't find a job because of his failed policies of high taxes and high unemployment. On a day when America suffered a brutal attack in Afghanistan, Pat Quinn should be ashamed of himself," said Rauner campaign spokesman Mike Schrimpf.

Rauner explained the delay in releasing his 2013 return, saying his taxes are very complicated and are always completed by the 15th of October. He has not indicated if he will include the details or schedules with his packet.

He did not include that information in his 2012 return when he reported $53 million of income.