GOP Lawmaker Dumps Medicaid Stock Before Budget Vote

Republican Congressman Robert Bresnahan of Pennsylvania has come under scrutiny for selling shares in Centene Corporation, a major Medicaid healthcare provider, shortly before voting in favor of President Donald Trump's "Big, Beautiful Bill," which enacts historic cuts to Medicaid and CHIP totaling over $1 trillion across a decade. Following his sale, Centene's stock value plummeted more than 40 percent, while the broader market rose, raising concerns about potential insider trading and conflicts of interest, especially as Bresnahan has yet to place his assets in a blind trust despite pledges to do so. Democratic lawmakers, including Senators Elizabeth Warren and Representatives Melanie Stansbury and Maxwell Frost, condemned Bresnahan's actions as unethical and harmful, highlighting the bill's impact on stripping healthcare from millions. Quiver Quantitative, a firm tracking stock trades of politicians, emphasized that Bresnahan's timing suggested foreknowledge of the bill's effect on Medicaid-related stocks. This incident exemplifies broader worries about congressional stock trading, where legislators may leverage privileged information to protect personal investments while supporting legislation that adversely affects public welfare. Despite the backlash, the "Big, Beautiful Bill" has passed both chambers and awaits President Trump's signature to become law.