THE WASHINGTON TIMES – During his campaign for re-election, President Obama and his team accused Mitt Romney of “betting against America” for investing in offshore accounts that shielded the Republican challenger from paying U.S. taxes.
If Mr. Romney “bet against America,” so did the family of Penny Pritzker, Mr. Obama’s nominee for Commerce secretary, whose confirmation hearing will be held Thursday in the Senate Commerce Committee.
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On financial disclosure forms, Ms. Pritzker revealed that she received $53.6 million in income in 2012 from a trust in the Bahamas. The income is described as being paid for “consulting services.”
A spokeswoman for the nominee said Ms. Pritzker paid taxes on the compensation before the April 15 deadline “at ordinary income rates,” although she wouldn’t specify the rate. The personal fortune of Ms. Pritzker, whose family owns the Hyatt hotel chain, among other commercial and financial interests, and who served as finance chair of Mr. Obama’s presidential campaign in 2008, is estimated at more than $1.85 billion.
Read more at The Washington Times.
