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Billionaire Tom Steyer launches new impeachment ad following Cohen testimony

Cohen testimony: Possible legal fallout
Michael Cohen testimony: Possible legal fallout for Trump 02:32

Billionaire Tom Steyer is spending $250,000 on a new TV ad calling for President Trump's impeachment following sworn testimony by the president's former personal attorney, Michael Cohen, in which he accused the President of committing crimes while in office.

The 30-second spot from Steyer's "Need to Impeach" campaign shows Michael Cohen's swearing-in before the House Oversight Committee Wednesday and plays a clip of him saying, "Individual 1 is President Donald J. Trump," a reference to court testimony Cohen made in which he pleaded guilty to lying to Congress, "out of loyalty to Individual 1."

Here's the video: 

Implicated by Tom Steyer on YouTube

The ad tells viewers to "demand impeachment now." It will air Thursday on CNN and MSNBC nationwide.

Cohen alleged Mr. Trump was "a con man" and "a cheat" who knowingly committed crimes during the 2016 presidential campaign. He also claimed that during the campaign, Mr. Trump was aware of coordination between his associate Roger Stone and Wikileaks' Julian Assange about a dump of hacked DNC emails.

"Michael Cohen's testimony confirms what we have known all along — Donald Trump is the most corrupt President in our nation's history," said Steyer. "In this country, no one is above the law."

But Democratic leaders are not yet prepared to call for impeachment proceedings. After Wednesday's hearing, House Oversight Committee Chairman Maryland Rep. Elijah Cummings told reporters he plans "to proceed very cautiously," adding, "this is not the end of a process but the beginning."

On Thursday, House Speaker Nancy Pelosi, D-Calif., sidestepped the impeachment question and said she was waiting for the results of both the special counsel's investigation and a second investigation by the Southern District of New York mentioned by Cohen during Wednesday's hearing.

"Impeachment is a divisive issue in our country, and let us see what the facts are," Pelosi said.

Steyer plans to increase the pressure on specific influential Democrats and has launched an initiative to "mobilize impeachment supporters" in districts represented by the chairs of three powerful House committees: Cummings, Ways and Means Chair Massachusetts Rep. Richard Neal, and Judiciary Committee Chair Jerrold Nadler, Democrat of New York.

"It is time for Congress to do its job and hold Donald Trump accountable for his crimes, corruption, and cover ups," said Steyer.

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