Republicans defended Mitt Romney against criticism from Democrats that he avoided taxes by keeping money stashed overseas. Those roles are now reversed with the disclosure that President Barack Obama’s pick to run the Commerce Department does the same thing.
If Penny Pritzker is picked to serve as U.S. commerce secretary, she’ll bring a resume showing a full range of business experiences -- success, failures, tax lawsuits and even squabbling among heirs over trust funds.
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.
President Barack Obama is close to choosing Chicago businesswoman Penny Pritzker, who led fundraising for his 2008 campaign, as his next commerce secretary, according to three people familiar with the matter.
Chicago billionaire Penny Pritzker inadvertently understated a portion of her income by at least $80 million in a disclosure form required for her nomination to be U.S. Commerce secretary and has amended the document.