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Home > Blogs > Ohio politics > Archives > 2010 > June > 01 > Entry
House committee targets Kasich’s finances with disclosure bill
By a 7-4 party-line vote, the House Elections and Ethics Committee on Tuesday, June 1, approved financial disclosure legislation aimed at highlighting the wealth of Republican gubernatorial candidate John Kasich.
The Democratic-controlled House is expected to vote on House Bill 504 on Wednesday or Thursday, said Rep. Mike Foley, D-Cleveland, the sponsor.
The bill, backed by committee Democrats and opposed by Republicans, would require a candidate for statewide office to file a financial disclosure statement identifying the candidate’s net worth, assets and liabilities in excess of $1,000.
Also, it would require that the statement be accompanied by the candidate’s most recent four federal tax returns or a sworn statement identifying all sources of income in excess of $1,000 for the past four years.
The bill, patterned after a Florida law, is aimed at increasing transparency, said Foley but he added:
“We’re obviously taking advantage of a personal circumstance of one candidate for governor.” Foley then mentioned income that Kasich had received from Lehman Brothers, where Kasich had worked as a managing director.
Rep. David Daniels, R-Greenfield, called the bill “political gamesmanship.”
Kasich in April permitted a handful of reporters to examine but not photocopy a summary of his 2008 federal income tax return. The information showed Kasich received a $432,000 bonus from Lehman Brothers in January 2008 for work done in 2007. It also showed that he and his wife Karen had taxable income of more than $1.1 million in 2008.
Kasich is running against incumbent Democratic Gov. Ted Strickland who recently released his federal income tax returns for 2006-2009. The returns showed that he and his wife Frances had total income of $166,321 in 2009, most form his $142,356 salary as governor, and $116,783 in taxable income after deductions and exemptions.
Rob Nichols, Kasich’s campaign spokesman, released this statement:
“John and Karen have already released more information than required by the law so they are clearly comfortable with greater transparency and, of course, with whatever the General Assembly decides.
“I doubt, however, that the 386,000 Ohioans who lost their jobs on Ted Strickland’s watch believe that this is the most pressing issue they face right now.”
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Comments
By pharmacy technician
June 16, 2010 12:51 AM | Link to this
nice post. thanks.
By The Moderator
June 3, 2010 6:24 PM | Link to this
Kasich supporters, what are his positve plans for Ohio and the middle class?
By Leslie
June 2, 2010 4:07 PM | Link to this
Miles, Miles, Miles, why do you lie! You guys have nothing absolutely nothing on Kasich. So you try the class warfare trick. Maybe you should try calling him a racist as well. You people and your oh my it’s wall street. You are such a pawn for the democrats and their plantation politics.
By Miles
June 2, 2010 1:59 PM | Link to this
It’s worth noting that while Lehman was losing hundreds of millions of Ohio’s pension funds, they were giving Kasich millions. Max, I don’t doubt that Kasich will do to Ohio just what he did on Wall St: get rich while the organization around him dies. Didn’t Bob Taft give us that already?
By Check out the ties
June 2, 2010 1:02 PM | Link to this
Isnt this quote from Foley interesting - “We’re obviously taking advantage of a personal circumstance of one candidate for governor.” Foley then mentioned income that Kasich had received from Lehman Brothers, where Kasich had worked as a managing director.” It appears politics is really a family affair!! Foley, the brother of Montgomery COunty Commissioner Dan Foley. It appears that the Foley’s really put the “partisian politics before what is best for the Stae and County” Like brother like brother. Neither one of them have done anything to be proud of. INEFFECTIVE POLITICIANS!!!! It’s time for a change in COlumbus and it’s time for a change in Montgomery County. Glad to see Kasich is willing to do something great for this state. He will be a governor we can all be proud of.
By Leslie
June 2, 2010 9:47 AM | Link to this
Oh my a wealthy politician, what a new concept! Get real, who cares how much money he has. It is not a crime to make money in this country. It is not a crime to gain wealth. If it was a crime that Obama and the rest of the millionaire democrats in Washington would be in trouble. It is sad that here in our own state we have democrats trying to create class warfare. Get over it. Kasich will be the next Governor.
By Towmater
June 2, 2010 9:34 AM | Link to this
This stupid bill is dead on arrival in the Ohio Senate and the House sponsors know that full well. Yeah, this is just what I expect my state legislators to be doing: wasting time on silly, politically motivated bills that have zero chance of ever becoming law. Ohio doesn’t have any serious problems that merits their attention. Jeez.
By Quentin
June 2, 2010 9:11 AM | Link to this
Since democrats admitted the law is just to target Kasich, it shows how scared they are of their bumbling to date. Josh, Obama never released a certificate, only some officials from Hawii have said they saw a copy of it. I am not one who claims he is really not a native US Citizen but it is strange he refuses to let it out at all while much more personal information like these financial disclosures are being required.
By Max
June 2, 2010 7:46 AM | Link to this
I don’t think this bothers Kasich at all except in priciple. Perhaps this financial transparency should have been in place a long time ago. But, as it is targeting Kasich this may backfire on the Democrats when Ohio’s economy is the issue: If Kasich can make money on Wall St. then is it not THAT skill set desirable for Ohio now? Kasich is saavy enough not to have violated any SEC rules or laws. I think he is smart to allow the Democrats set up his financial resume for him. The choice then becomes a nice guy incumbent who is fiscally inept vs a ruthless bean counter with a profit motive guiding his political morality. For now, I think the latter is the better choice.
By Josh
June 2, 2010 7:45 AM | Link to this
A birth certificate was provided. It may not have been the long form certificate, but it was a legally accepted certificate.
By Josh
June 2, 2010 7:45 AM | Link to this
A birth certificate was provided. It may not have been the long form certificate, but it was a legally accepted certificate.
By J
June 2, 2010 6:53 AM | Link to this
I’ll bet dimes to dollars that if this was a GOP bill and a Dem candidate, I’d hear cheering from the right. Simply put, though, whatever the reason, this sort of law is a good idea. It is important for us all to know where a candidate’s sympathies lie, and knowing where his cash comes from is a really great way to do that. Money determines loyalties, folks. There is no other ethic among corporate leaders and politicians.
By Don Norman
June 1, 2010 6:13 PM | Link to this
Force info from a Republican seeking to be Governor and require no birth info from a Democratic President -makes sense to mr, DUH!