Friday, July 13, 2018
A recently filed financial disclosure shows U.S. Rep. Vern Buchanan celebrated passing the House version of the Republican tax bill in quite the lavish way. According to the disclosure, Buchanan spent between $1 million and $5 million purchasing an Ocean Alexander yacht on Nov. 16, 2017, the same day he joined 226 other Republicans and no Democrats in voting for the first draft of the "Tax Cuts and Jobs Act."
Given his net worth and income, progressive group Tax March estimated that the bill would save him up to $2.1 million on his taxes.
That's most of the way to a yacht, which likely trended toward the higher end of the reported range given that Ocean Alexander's least expensive model -- the 70-foot 70E Motoryacht -- has a base price of $3.25 million.
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