Homutynnik was a Member of Parliament for five convocations: from 2002 to 2019. During his parliamentary term, he served on two committees: customs and tax policy committee, and banking and finance policy committee. During the 2012-2014 term, he headed the Customs and Tax Policy Committee.
Homutynnik started his career in the Party of Regions and headed its youth department, Union of Youth of the Regions of Ukraine.
During the Maidan, he voted for "dictatorial laws" on January 16.
He is among the top 20 richest Ukrainians.
Associated with Kolomoisky
During the 2014-2019 term, Homutynnik was the co-chair of the Revival parliamentary group that is supported by Ihor Kolomoisky. He is Kolomoisky’s partner in Ukrnaftoburinnya. Homutynnik was also noticed among officials and businessmen who visited Kolomoisky during his stay in Israel.