Republican Congressman Mark Kirk has returned $54,010 in campaign contributions from Goldman Sachs as he runs for the open Illinois Senate seat in mid-term elections. The move heeds a time of high priority for government transparency and high trouble for the investment bank as it deals with the SEC's fraud allegations. In a statement, Kirk said he wished to "err on the side of caution and watch this case unfold."
Kirk made a point to clear himself of the contribution and to finish his taxes, and went on to point out his Democratic opponent, Alexi Giannoulias, had yet to do so. Bloomberg explained why:
Kirk pointed to financial troubles experienced by a community bank run by Giannoulias's family as one possible reason why his opponent filed for an extension. "I worry that the coming implosion of his family bank may have tax implications for him and therefore he's not willing to release his taxes," Kirk said.
Giannoulias routinely files for an extension on his taxes as he awaits documents from the family business, said Kathleen Strand, a spokeswoman. "Alexi, as he has for all of the years he has been in public office, will release his tax returns in full as soon as they are filed," she said, adding they will be released "as soon as possible."