Stock Groups

Patriotic Millionaires backs primary challenges against House Democrats Cuellar, Bourdeaux


U.S. Rep. Henry Cuellar of Texas (D) gave an interview to Laredo in Texas on October 9, 2019

Veronica Cardenas | Reuters

An organization of millionaires who support progressive tax policies has backed primary challenges to the two centralist House Democrats that it believes are blocking President Joe Biden’s agenda.

Patriotic Millionaires are a group with members who have an annual income of more than $1 million or assets greater than $5,000,000. They support progressive Jessica Cisneros rather then Rep. Henry Cuellar of Texas. The group is also supporting Rep. Lucy McBath of D-Ga. over Rep. Carolyn Bourdeaux of D-Ga. in an election that was triggered by redistricting.

Cuellar was the owner of Cuellar’s Texas office and home. raided by the FBI recently, has declaredCuellar intends to stand for reelection. Cuellar denies wrongdoing. ABC News reportedAccording to federal investigators, the Congressman was questioned about records that were linked to Cuellar or his wife.

Cisneros challenged CuellarCuellar took the primary in 2020 by 3 percentage points.

McBath, representing Georgia’s 6th and 7th districts, is Bourdeaux. McBath will be competing with Bourdeaux to become the 7th District representative, due to redistricting.

The Patriotic Millionaires claims that Bourdeaux and Cisneros have blocked Biden from pursuing his agenda. Congress approved the plan. his bipartisan infrastructure billThis was November. According to the group, websiteCuellar is concerned about the way Cuellar views it. a Democratic spending billThis would have a negative impact on the oil-and gas industry. Bourdeaux’s tax policies are also criticised by the group.

FiveThirtyEight’s data indicates that both lawmakers support the president more than 90% of the times.

Democrats have a slim majority of the House. However, polling indicates that Republicans stand a good chance of retaking the House during the fall’s midterm election.

CNBC Politics

See more coverage of politics by CNBC:

The Patriotic Millionaires have been advocating for this cause for years. raising taxes on the wealthiest Americans. The advisory board is made up of Morris Pearl (ex-BlackRock executive) who chairs the group; Abigail, Tim, and George Disney, children of Roy O. Disney. George Zimmer was previously CEO of The Men’s Wearhouse.

It is the first time that the group has participated in a primary campaign.

Interviews with CNBC revealed that Erica Payne and Pearl, the president of the group, stated their endorsements as part of the fact that they will contribute to the primary campaigns for the candidates they support. In addition, the endorsements may be extended to other primaries in the future.

According to the records of the Center for Responsive Politics, Abigail Disney donated previously to McBath’s reelection campaign.

Abigail Disney released a statement that was provided to CNBC. She stated, “The peoples of Georgia’s 7th District should have a representative who fights every day in Washington for the best interests of their citizens. And I know Representative McBath will more than be up for this challenge,” she said. She and her campaign deserve my support.