Reporting his net worth at over $100 million, Florida Republican Vernon ‘Vern’ Buchanan (R-FL) is not only one of the wealthiest Members of Congress, but one of the most corrupt. Infamous for buying himself a luxury yacht to celebrate his vote for the GOP tax scam, Buchanan has more than earned a definitely not coveted anti-endorsement.
Selling out his voters for personal enrichment and delivering a payoff to his corrupt friends tells you all you need to know about ‘Vern.’ He sat on the committee in Congress that wrote the tax bill and chaired its tax policy subcommittee. As it was being written, Buchanan was lobbied by Canadian bank BMO Harris which spent at least $760,000 to shape the bill and get it passed. Around that same time, the company floated the Congressman a $5 million loan he would use to purchase his special fancy boat.
Of course Buchanan claimed he did it all for regular Americans. But his lies are about as hard to ignore as a 100-ft yacht next to an unemployment line. A Maplight report detailed the payoffs to Buchanan and his favorite bank, showing how cozy relationships in Congress work for the wealthy and well-connected, and shut everyone else out.
In fact, the company openly stated its profits would rise from the corporate tax cuts in the bill, and announced a plan to buy back 20 million shares of its own stock. For his own sake, Buchanan benefits from the individual rate cuts in the bill as well as new lower rates on profits from pass-through companies like LLCs, a provision that uniquely benefits him, a key drafter of the legislation. Buchanan is the managing member or a partner in nearly 20 limited liability companies, or LLCs.
That’s the Vern Buchanan agenda: Sell out everyday Floridians to get a massive payday for himself and his rich friends – then rub it in the face of his constituents and act like they won’t care.
Buchanan got lucky to escape defeat in 2018, but Cleanup Carl is on a mission to make sure he’s not so fortunate this time around.
Vern Buchanan, your corrupt boat is about to get sunk.