Missouri Rising Action - Missouri Rising Action Releases Ad Highlighting New Kansas City Star Report On McCaskill’s Profiting Off $131 Million In Federal Subsidies Missouri Rising Action Releases Ad Highlighting New Kansas City Star Report On McCaskill’s Profiting Off $131 Million In Federal Subsidies – Missouri Rising Action

Missouri Rising Action Releases Ad Highlighting New Kansas City Star Report On McCaskill’s Profiting Off $131 Million In Federal Subsidies

By MRA staff|July 27th, 10:40am
Missouri Rising Action Releases Ad Highlighting New Kansas City Star Report On McCaskill’s Profiting Off $131 Million In Federal Subsidies

JEFFERSON CITY– Missouri Rising Action today released a new 30-second digital ad, titled “$131 Million,” highlighting this week’s Kansas City Star report finding that since Senator Claire McCaskill was elected to the U.S. Senate, her husband’s companies received $131 million in federal subsidies. Senator McCaskill and her husband have become increasingly wealthy throughout her time in Washington as they take advantage of tax shelters, tax breaks, and loopholes.

“As this week’s KC Star report makes clear, Claire McCaskill and her husband have made millions off the backs of taxpayers, but she has said ‘no’ to tax cuts for hardworking Missourians,” said Brian Rogers, Executive Director of Missouri Rising Action. “As new revelations about her profiting from federal subsidies, tax loopholes under IRS scrutiny, and Cayman Island tax havens, Claire’s record is under scrutiny like never before, and the people of Missouri are watching.”

Full Script and ad documentation below.

SCRIPT: “$131 Million” (:30- Digital):

VO: Millionaire Claire McCaskill. She’s one of the richest Senators…and she voted against cutting your taxes…

…but McCaskill and her husband exploited tax loopholes to make millions.

According to the St. Louis Post-Dispatch, McCaskill and her husband exploit tax shelters

facing IRS investigation…

Hedge funds in the Cayman Islands…

..and the McCaskills businesses have pocketed over one hundred and thirty million in federal

subsidies.

Millionaire Claire McCaskill.

Higher taxes for you. Millions in tax breaks for her.

 

Ad Facts: “$131 Million” (:30-Digital):

 

Millionaire Claire McCaskill.  She’s one of the richest Senators… and she voted against cutting your taxes…

 

McCaskill Is One Of The Richest Members Of Congress

McCaskill Is The Richest Of The Vulnerable 2018 Incumbents

McCaskill Is The Richest Of The Vulnerable 2018 Incumbents. “Politics has increasingly become a ratings game, and Sen. Claire McCaskill is on an election-year numbers list that her political opponents are already trying to use against her. The Hill, a newspaper that covers Capitol Hill and politics, ranks McCaskill, D-Mo., as the richest most vulnerable politician running for re-election in the 2018 election. She is ranked 24th overall in Congress at an estimated wealth of $26 million, according to the newspaper, but the 23 ahead of her are either not up for election in November or are in races that are not considered to be close.” (Chuck Raasch, “Capitol Hill Newspaper Says McCaskill Richest Of All ‘Vulnerable’ Incumbents,” St. Louis Post-Dispatch, 2/27/18)

 

In December 2017, McCaskill Voted Against The Tax Reform Legislation

McCaskill Voted Against The 2017 Tax Reform Conference Report, Which Cut Individual And Corporate Tax Rates

In December 2017, McCaskill Voted Against The Final Tax Reform Bill, Which Cut Individual And Corporate Tax Rates. “McConnell, R-Ky., motion to concur in the conference report to accompany the bill with a further amendment. The bill would revise the federal income tax system by lowering the corporate tax rate from 35 percent to 21 percent; lowering individual tax rates through 2025; limiting state and local deductions to $10,000 through 2025; decreasing the limit on deductible mortgage debt through 2025; and creating a new system of taxing U.S. corporations with foreign subsidiaries. Specifically, it would repeal personal exemptions and would roughly double the standard deduction through 2025. It would raise the child tax credit to $2,000 through 2025, would repeal the alternative minimum tax for corporations and provide for broader exemptions to the tax for individuals through 2025. It would double individual exemptions to the estate tax and gift tax through 2025, and would establish a new top tax rate for “pass-through” business income through 2025.” (H.R. 1, Roll Call Vote #323: Passed 51-48, 12/20/17, McCaskill Voted Nay; CQ Summary, Accessed 12/20/17)

 

McCaskill Voted Against The Senate’s Tax Reform Bill

In December 2017, McCaskill Voted Against The Senate’s Tax Reform Bill, Which Would Cut Individual And Corporate Tax Rates. “Passage of the bill, as amended, that would revise the federal income tax system by lowering individual and corporate tax rates, repealing various deductions through 2025, specifically by eliminating the deduction for state and local income taxes through 2025, increasing the deduction for pass-through entities and raising the child tax credit through 2025. It would also open parts of the Arctic National Wildlife Refuge to oil and gas drilling.” (H.R. 1, Roll Call Vote #303: Passed 51-49, 12/2/17, McCaskill Voted Nay; CQ Summary, Accessed 12/4/17)

 

…but McCaskill and her husband exploited tax loopholes to make millions.

According to the St. Louis Post-Dispatch, McCaskill and her husband exploit tax shelters facing IRS investigation…

 

McCaskill’s Husband Has At Least $2.25 Million Invested In Controversial Conservation Easement Tax Credits

 

In May 2018, The St. Louis Post-Dispatch Reported That McCaskill’s Husband Invested At Least $2.25 Million In Tax Breaks For Conservation Easements, Which Have Faced Scrutiny From Both The IRS And Congress. “The husband of Sen. Claire McCaskill, D-Mo., has invested at least $2.25 million in tax breaks for conservation easements, a class of investments that the Internal Revenue Service has called into question and Congress is trying to restrict. Those investments by Joseph Shepard were revealed in McCaskill’s latest personal financial disclosure report filed this month.” (Chuck Raasch, “McCaskill’s Husband Invests In Conservation Tax Benefits Under IRS Scrutiny,” St. Louis Post-Dispatch, 5/25/18)

 

Hedge funds in the Cayman Islands…

 

McCaskill’s Husband Has At Least $1 Million Invested In A Hedge Fund With Ties To The Cayman Islands

McClatchy DC: “McCaskill’s Husband Invested $1 Million In Hedge Fund Tied To Caymans” (Lindsay Wise, Kevin G. Hall And Steve Vockrodt, “McCaskill’s Husband Invested $1 Million In Hedge Fund Tied To Caymans,” McClatchy DC, 6/20/18)

McCaskill’s Husband, Joseph Shepard Has $1 Million Invested In A Hedge Fund Tied To The Cayman Islands, A Noted Offshore Tax Haven. “As a U.S. senator, Claire McCaskill supports cracking down on offshore tax havens. But the Missouri Democrat’s husband has invested $1 million in a hedge fund tied to the Cayman Islands, one of the world’s most notorious tax havens. Joseph Shepard’s investment in Matrix Capital Management has earned him between $230,000 and $2.1 million in income since he first invested in 2013, according to McCaskill’s financial disclosure forms. Such forms only show a range of income.” (Lindsay Wise, Kevin G. Hall And Steve Vockrodt, “McCaskill’s Husband Invested $1 Million In Hedge Fund Tied To Caymans,” McClatchy DC, 6/20/18)

Shepard’s Investment Has Earned Him Between $230,000 And $2.1 Million In Income Since He First Invested In The Fund In 2013. “As a U.S. senator, Claire McCaskill supports cracking down on offshore tax havens. But the Missouri Democrat’s husband has invested $1 million in a hedge fund tied to the Cayman Islands, one of the world’s most notorious tax havens. Joseph Shepard’s investment in Matrix Capital Management has earned him between $230,000 and $2.1 million in income since he first invested in 2013, according to McCaskill’s financial disclosure forms. Such forms only show a range of income.” (Lindsay Wise, Kevin G. Hall And Steve Vockrodt, “McCaskill’s Husband Invested $1 Million In Hedge Fund Tied To Caymans,” McClatchy DC, 6/20/18)