As Democrats call on the rich to "Pay their fair share" in taxes, North Carolina congresswoman Kathy Manning has more than $1 million stashed in a Cayman Islands-based fund.
One of the wealthiest members of Congress, Manning and her husband hold more than $1 million in Seven Bridges Multi-Strategy Fund Ltd., her financial disclosure shows.
The private fund is located in the Cayman Islands, a notorious tax haven for America's elite, according to SEC filings.
Manning in 2020 earned up to $100,000 from the fund, which feeds into another investment fund that holds roughly $350 million from 144 investors.
The revelation may pose intraparty problems for Manning as her Democratic colleagues in Congress ramp up their rhetoric against the same tax havens that Manning and her husband have used.
Her stake in the Cayman Islands fund is held through her husband's charitable trust, a tactic that is often used to defer paying capital gains taxes.
The Cayman Islands-based fund in which the couple invests is managed by investment advisory firm Seven Bridges Advisors.
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