GOP Representative Robert Bresnahan voted for Trump’s budget on Thursday, conveniently after he dumped his shares of stock in a Medicaid provider.
The Pennsylvania representative sold his Centene stock in May, just one week before he voted “yes” on an early House version of the budget bill that crippled the health care system. By Thursday, when he voted for the final version of the bill, Centene stock had plummeted by 43 percent.
The Pennsylvania representative had a vested interest in seeing health care get slashed. He knew that ripping Medicaid and hospital funding from millions of Americans would help him make a quick buck before his stocks tanked in value. This is yet another classic example of congressional insider trading, a rampant issue on Capitol Hill. Representatives and senators on both sides of the aisle use the specific knowledge they have, due to their positions as legislators, to impact stock prices and make off with as much cash as possible in the process.
“Protecting his stock portfolio while ripping away health care from 17 million Americans. This is Washington at its worst,” Senator Elizabeth Warren wrote on X. “We need to ban Congressional stock trading.”
“Wow. So he votes to gut Medicaid and throw 17 million people off of their healthcare and then dumps his Medicaid related stock to cover his own ass?” Representative Maxwell Frost echoed. “That’s just evil and cruel.”
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