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Governor Bruce Rauner and challenger JB Pritzker were roughly equitably balanced in at least one way last year: how much taxable income they told the IRS and how much they paid for it. Taxes, according to the tax returns disclosed by both candidates today.
According to statements made in 2017, Rauner reported slightly higher adjusted gross income than Pritzker: $ 52.98 million for the outgoing GOP incumbent and his wife, Diana Rauner, versus $ 41.13 million for the Democratic candidate and his wife, Mary Kathryn Pritzker.
However, the Pritzkers paid a little more federal income tax, or $ 14.88 million, compared to $ 13.95 million for the Rauners. The main apparent reason is that the revenues of the Rauners came much more from relatively low capital gains than those of the Pritzkers, who depended mainly on the trust and assets of the relatives for most of their income. As a result, the Pritzkers' effective federal tax rate on adjusted gross income was 36.2%, higher than that of 26.5% of Rauners.
In contrast, the Rauners paid more income taxes to the Illinois Treasury, $ 2.15 million versus $ 812,000. But the Pritzkers received a loan from Illinois for an additional $ 1.58 million in income taxes paid to another state, even though they are residents of Illinois.
Neither candidate has published any annexes containing much more detailed information on the amount of their income, such as the Pritzker family trusts. Rauner's campaign revealed that he and his wife paid just over $ 3 million to certified charities last year. The Pritzker campaign did not immediately provide a comparable figure for him.
The total income of the two wealthy candidates – Rauner would have a net worth of several hundred million dollars, Pritzker rising to $ 7 billion or more – has varied considerably in recent years, with Rauner's income having risen to 187 , $ 6 million in 2015 after $ 58 million in 2014. In 2016, Rauners 'total reported gross adjusted revenue was $ 91 million and the Pritzkers' gross income was $ 14.95 million.
The two men have spent tens of millions of their own money in this campaign, which may well become the most expensive ruler of US history.
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