From the Gil Cisneros campaign, this:
In Young Kim’s latest ad, she makes the claim that “Cisneros traded millions in stock following private coronavirus briefing” based on a September 18th California Globe story. After being notified of numerous inaccuracies in the story, the California Globe has removed the story:
If Young Kim hopes to preserve any credibility, she must pull down her ad trumpeting these false claims. The countdown begins – will Kim choose to be truthful with voters?
Here are the facts on Young Kim’s ad:
Young Kim Confuses Working For Own Financial Interests with Against. In Congress, Cisneros sponsored multiple pieces of legislation to reduce prescription drug costs, despite what he could have gained via increased profits to the pharmaceutical and biotechnology companies in which he invested. He voted for H.R. 3, the Elijah E. Cummings Lower Drug Costs Now Act, to lower domestic drug prices and save at least $345 billion for the American people, and the Patient Protection and Affordable Care Enhancement Act to make healthcare more affordable and lower drug prices by up to 55 percent. In other words, Cisneros chose to work against his own financial interests and for the people of the 39th District.
Young Kim Took $138K from Big Pharma (So Far) During Her Political Career. Meanwhile, Kim has accepted at least $138K in campaign contributions from the pharmaceutical industry during her career, and has sided with big drug companies.
Young Kim Doesn’t Understand How Time Works. Kim is alleging that Cisneros took part in insider trading because he sold his stocks two months after a Congressional coronavirus briefing.
- Cisneros sold his stock between March 23 and April 16; the closed-door Congressional coronavirus briefings happened from January 24 to 30, nearly two months before those transactions.
- Maybe Kim wasn’t following the news cycle, but Trump suspended travel from China on February 2, the stock market crashed on February 20, the CDC warned Americans to prepare for “severe disruption” on February 25, and the World Health Organization declared a worldwide pandemic on March 11.
- Kim clearly doesn’t understand that making stock transactions during a financial crisis and global pandemic that the whole world is already aware of isn’t “insider trading.”
Young Kim’s Questionable Sources. The ad cites a right-wing webpage that denies climate change, traffics in conspiracy theories, and even Facebook has put warnings on their stories for factual inaccuracies.
Pharmaceutical Industry has Attacked Cisneros. Kim’s claim is so laughable even the pharmaceutical industry doesn’t buy it – Cisneros was attacked by Pharma-aligned dark money groups over his support for H.R. 3, which would have lowered drug prices.
Kim Supported $7 Billion Tax Giveaway to Big Pharma. Young Kim supported the GOP tax bill which gave Big Pharma a massive tax giveaway while raising taxes on many CA-39 residents through the repeal of the SALT deduction.
Young Kim Gladly Accepts Big Pharma Corporate PAC Money, While Cisneros Refuses. Cisneros supported H.R. 1, the For the People Act, landmark legislation to reduce the role of money in our politics. Cisneros is the only candidate with a plan to reduce the role of money in politics and is walking the walk by refusing corporate PAC money. Cisneros has also been endorsed by End Citizens United, the leading group in the country dedicated to getting big money out of politics.
Gil Cisneros is a former U.S. Naval Officer and was awarded the Navy Commendation Medal, Navy Achievement Medal (2), the National Defense Medal, and the Armed Forces Expeditionary Medal for his exemplary service to his country. Gil is Advocate and co-founder of The Gilbert & Jacki Cisneros Foundation, an organization committed to improving college access and higher education opportunities for those in underserved communities and veterans. Gilbert’s dedication toward philanthropy began when he purchased a winning California Mega Millions lottery ticket in 2010. Gil and Jacki partnered with the Hispanic Scholarship Fund and the city of Pico Rivera, California to create Generation First Degree Pico Rivera, with the goal of putting a college degree in every Hispanic household in the city. Gil’s commitment to education led him to be appointed to former First Lady Michelle Obama’s Reach Higher Initiative’s advisory board and President Obama’s Advisory Committee on the Arts for the John F. Kennedy Center for the Performing Arts.
California’s 39th Congressional District, split between Los Angeles, Orange, and San Bernardino Counties, will be one of the most competitive districts in California. Gil Cisneros won the district in 2018 by 3 points.