Bruce Rauner Made Big Bucks In 2015, Spent Big in 2016 Election
By aaroncynic in News on Nov 11, 2016 9:18PM
Governor Bruce Rauner outside the Director's Lawn at the Illinois State Fair in August 2016. Photo by Aaron Cynic
Illinois Governor Bruce Rauner made it even bigger financially in 2015, raking in more than $187 million in gross income, according to tax disclosures obtained by the Sun-Times.
That’s more than three times what he made in 2014, when he reported an income of $58 million.
While not required to do so, Rauner kept with tradition and released his returns, unlike a certain Presidential elect the governor didn’t endorse but quietly supported.
After paying $43.3 million in federal and $6.9 million in state taxes—a rate of about 26 percent—Rauner put his vast wealth to use in the 2016 election cycle, donating more than $30 million to various campaigns and Republican causes in the state. Records show that some 90 percent of all money funneled into the Illinois Republican Party this election cycle came from Rauner.
Thanks to Bruce’s millions, about a dozen races hit or surpassed the $2 million mark in spending, a level unprecedented in Illinois. According to the Chicago Tribune, two races passed $4.5 million in spending, and a handful hit $3 million.
That level of spending paid off for Rauner, as Republicans managed to pick up several seats in the House, breaking the Democratic supermajority.
"Rauner and his billionaire allies spent unprecedented millions — outspending Democratic candidates by wide margins — to push their agenda of increasing profits for big corporations at the expense of middle-class families," said House Speaker Micheal Madigan on election day.