Chicago billionaire Penny Pritzker was confirmed as Commerce secretary on a 97-1 Senate vote, elevating a significant figure behind President Barack Obama’s political rise to a position in his second-term Cabinet.
The nominations of Penny Pritzker for Commerce secretary and Anthony Foxx as Transportation secretary advanced to the full U.S. Senate, bypassing the political fights that have stymied other high-level appointments.
U.S. Commerce Secretary nominee Penny Pritzker received $54 million last year from an offshore trust in the Bahamas, according to a disclosure report that describes an empire of casinos, hotels, energy companies and family trusts that may be worth more than $2 billion.
Receiving $54 million in consulting fees for a decade’s work on her own family’s offshore trusts is unusual and probably saved U.S. Commerce Secretary nominee Penny Pritzker on taxes, according to estate experts.
Andrew Mellon would back it. That's the recent analysis of the "Buffett Rule," a plan to reform the tax law that would require top earners, including those who make much of their money from investments, to pay the same percentage of their earnings as those in the middle class do.
What’s next after the Oscars? More Gatsby, of course. “The Great Gatsby,” featuring Leonardo DiCaprio and coming in May, will be the fourth, or by some counts the fifth or sixth, movie version of F. Scott Fitzgerald’s novel about the illusion created by false wealth in the 1920s.