Democratic gubernatorial candidate J.B. Pritzker recently released a portion of his income tax returns, and the Illinois Republican Party is questioning what the remaining portions would reveal.
In a recent release, the Illinois GOP noted that Pritzker’s income is primarily generated through inherited family trusts. Pritzker is an heir to the Hyatt fortune and paid $128.9 million in federal taxes on the income from family trusts, as well as $24.9 million in state taxes. Those figures dwarf the relatively modest $8.2 million he paid in taxes on his declared personal income, which amounted to $29.6 million.
The GOP noted that Pritzker has not been forthcoming about these family trusts and accused the Pritzker family of traditionally using such trusts to avoid taxes.
“It's clear – J.B. Pritzker is obfuscating on income derived from his inherited family trusts because he's trying to hide the fact that he's been avoiding taxes for years,” Illinois Republican Party spokesman Aaron DeGroot wrote in the release. “J.B. Pritzker's campaign for governor is reaching the height of hypocrisy. Pritzker is advocating for yet another income tax hike on middle class families while cutting corrupt deals to slash his property taxes and using trusts to avoid taxes.”
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