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Millionaire Republican reportedly bought a yacht the same day he voted to cut his taxes

The rich get richer.

Rep. Vern Buchanan (R-FL), reportedly bought himself a yacht the same day he voted for the GOP tax bill. (CREDIT: Tom Williams/CQ Roll Call)
Rep. Vern Buchanan (R-FL), reportedly bought himself a yacht the same day he voted for the GOP tax bill. (CREDIT: Tom Williams/CQ Roll Call)

One of the richest members of Congress reportedly put the tax cut he helped pass to quick and extravagant use.

Florida Politics reports that, according to financial disclosures, Rep. Vern Buchanan (R-FL) reportedly spent between $1 million and $5 million on a yacht on November 16, 2017 — the same day he and fellow congressional Republicans voted to pass their tax bill.

Buchanan, worth at least $80 million, was a major beneficiary of the GOP tax bill and stood to save over $2 million thanks to it. He wasn’t alone, either. Fifteen Republicans who helped write the tax cuts into law will see an average tax windfall of $314,000 from the legislation they helped craft. And despite Republicans’ promises, lower and middle-income families will get tax cuts that are far more meager.

Buchanan’s new sea ride may soon turn into a political liability, however. David Shapiro, the Democratic candidate challenging him in the November elections, quickly took to Twitter to lambast Buchanan and the Republican tax law, saying “we can’t let politicians enrich themselves at the expense of their constituents.”

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Buchanan may not be alone on this. As Vox notes, the tax law’s popularity is shrinking by the month. In June, just 34 percent of Americans would say they approve of the law, a 10 point fall from January of this year. Republicans hoping to use the law to fight off an impending blue wave in the fall may want to think of another strategy.