Max Herman /Chicago Sun-Times via AP

Hotel scion J.B. Pritzker yesterday announced his candidacy for the Democratic Party nomination to unseat Illinois Gov. Bruce Rauner. From a finance perspective, it sets up a battle between one of the state's top venture capitalists against one of its best-known private equity executives.

Finance fight: Pritzker has spent the past two decades leading Pritzker Group Venture Capital, whose deals have included Casper, Honest Co., Fleetmatics, Playdom and Pindrop Security. He also co-founded a middle-market private equity affiliate. A source says that he'll step down as managing partner of both groups, although no official statement yet on that matter. Rauner was a longtime private equity executive with Chicago-based GTCR, before entering politics earlier this decade.

Odds: Pritzker faces a crowded Democratic field before getting to Rauner, although his wealth, Democratic Party bonafides (sister Penny was Obama's Commerce Secretary) and the strength of the Pritzker name in Illinois make him the early front-runner. Then again, Jeb Bush was once a front-runner for similar reasons.

Rhetoric: Less than 24 hours in, and Pritkzer already has called Rauner a "failure," and Rauner has called Pritzker a "lapdog."

Go deeper

House Democrats file legislation to fund government through Dec. 11

House Speaker Nancy Pelosi (D-Calif.). Photo: Chip Somodevilla/Getty Images

House Democrats on Monday released their proposal for short-term legislation to fund the government through December 11.

Why it matters: This is Congress' chief legislative focus before the election. They must pass a continuing resolution (CR) before midnight on Oct. 1 to avoid a government shutdown — something both Hill leaders and the White House have claimed is off the table.

Updated 13 mins ago - Politics & Policy

Ruth Bader Ginsburg will lie in state in Capitol's National Statuary Hall

Photo: Getty Images

House Speaker Nancy Pelosi announced Monday that the late Supreme Court Justice Ruth Bader Ginsburg will lie in state in the Capitol's National Statuary Hall on Friday, making Ginsburg the first woman to ever receive the honor.

The state of play: The Supreme Court also announced Monday that Ginsburg will lie in repose on the front steps of the building on Wednesday and Thursday, allowing the public to pay respects to the late justice outside.

25 mins ago - World

Trump announces new Iran sanctions in effort to maintain international arms embargo

Photo: Anna Moneymaker-Pool/Getty Images

President Trump signed an executive order on Monday that would impose sanctions on any person or entity that contributes to the supply, sale, or transfer of conventional arms to or from Iran or is engaged in providing training and financial support related to those weapons.

Why it matters: The executive order is the first step by the Trump administration to put teeth into its claim that international sanctions on Iran were restored over the weekend, one month after the U.S. initiated the "snapback" process under a United Nations Security Council resolution.