* Pritzker campaign…
Reporters – Attached are the state and federal tax return summaries for JB Pritzker from 2014 to 2016.
In 2014, JB Pritzker paid federal taxes at a rate of 37.3%, in 2015 he paid federal taxes at a rate of 24.3% and in 2016 he paid federal taxes at a rate of 27.7%.
Between 2014 and 2016, trusts benefitting JB Pritzker paid an additional $24.95 million in Illinois taxes and $128.97 million in federal taxes.
JB Pritzker has made $15.3 million in personal charitable donations and his Foundation has made charitable donations of $53.8 million over the same period of time.
The disclosed returns are here.
Pritzker reported an adjusted gross income last year of $14.95 million. He spent that on his campaign in just a few months this year. You’ll recall that Sen. Daniel Biss had demanded that Pritzker release his full returns. That obviously didn’t happen today and he didn’t disclose much of anything related to his trust income. Considering that Pritzker’s income was so low compared to his alleged net worth of $3.4 billion, you can probably expect an uproar in 3… 2…
* Meanwhile, from the Chris Kennedy campaign…
After filing his petitions and statement of financial disclosure today, Chris Kennedy, Democratic candidate for Governor, took the additional step of public disclosure by releasing federal and state tax return information.
His spokeswoman, Rebecca O’Halloran Evans, released the following statement:
“As promised, Chris Kennedy has gone above and beyond the disclosure requirements in this race for governor by providing his state and federal tax return information for review. The people of Illinois deserve openness and integrity in their government.”
Click here and here. Kennedy also just released the top pages and, unlike Pritzker, he only disclosed his 2016 return. Kennedy reported an adjusted gross income of $1.2 million. He paid $174K in federal taxes on that, giving him an effective federal tax rate of 15 percent because Kennedy took $809K in itemized deductions. He didn’t disclose what those deductions were, however.
*** UPDATE *** Biss campaign…
Today, Daniel Biss released the following statement in response to JB Pritzker and Chris Kennedy’s failure to fulfill their pledge to fully release their tax returns:
“Nearly eight months ago, JB Pritzker and Chris Kennedy pledged to release their tax returns, acknowledging that voters have a right to know how candidates make their money, what financial entanglements they may have, and how much they pay in taxes. After months of hiding their releases, using the same excuses we hear from Donald Trump, today both failed to live up to their promise. A short summary from only a year or two doesn’t give a full picture - it only raises more questions. Voters deserve an explanation of why it took so long to release so little, and what Pritzker and Kennedy are hiding from the people whose trust they are asking for.”
…Adding… One other thing to note is Kennedy’s family has a trust fund, but Kennedy’s disclosures don’t say if he received any money from them or paid any taxes on that cash.