NEW: Rob Bresnahan Wants To Cut Taxes For Big Corporations And The Ultra Wealthy – Like Himself

Today, American Journal News revealed that Rob Bresnahan has endorsed a tax plan that would overwhelmingly benefit multi-millionaires like himself, while also adding $4.6 trillion to the deficit.

According to the report, Bresnahan — whose net worth could be almost $70 million — said he is a “big believer” in the plan and that increasing tax rates on big corporations is “a problem.”

DCCC Spokesperson Aidan:
“Rob Bresnahan has proven that the only reason he is running for office is to give himself and his billionaire backers another massive handout at the expense of working families in Northeastern Pennsylvania. He made a fortune selling out this region and will do it again if elected in November.”

The American Journal News: Wealthy Republican Rob Bresnahan Wants More Tax Cuts For The Super Rich.  
By: Jesse Valentine | August 27, 2024

Key Points: 

• Republican U.S. House candidate Rob Bresnahan has endorsed a tax policy that would benefit wealthy Americans like himself. Bresnahan’s net worth is estimated to be $69 million.

• Bresnahan made his fortune as a venture capitalist. He is now challenging Democratic Rep. Matt Cartwright in Pennsylvania’s eighth district.

• Bresnahan praised the Tax Cuts and Jobs Act during a voter meet and greet in Milford, PA in April.

• “ […] I’m not a member of Congress so I don’t know all the details, but what I do like is the estate tax and how we were able to give people exceptions. We have a lot of family farms that will be impacted in the event that that’s not carried forward; that’s going to sunshine out in 2026. And Biden does not intend to restore those tax cuts. It’s a problem.”

• An analysis by the nonpartisan Tax Policy Center found that families earning more than $1 million annually — approximately 0.4% of all filers — received 16.5% of the total benefits. In other words, a small group of high-income households got a significant portion of the overall tax savings.

• Bresnahan’s Financial Disclosure Report estimates his net worth to be between $5,577,625 and $68,829,995. In 2023, Bresnahan earned $5,667,900 in unearned income from various investments. His salary in this period totaled $173,384.60.

• The nonpartisan Committee for a Responsible Federal Budget determined in January that the Tax Cuts and Jobs Act has added $1.9 trillion to the debt. The ​​Congressional Budget Office said in May that extending the law for ten years could add another $4.6 trillion to the deficit.

• Cartwright voted against the Tax Cuts and Jobs Act and criticized the bill for offering minimal relief to middle class taxpayers while increasing the national debt.

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