Particle.news

Download on the App Store

Lawmaker Draws Ethics Scrutiny for Selling Centene Stock Before Medicaid Vote

Democrats are calling for a congressional stock trading ban after Pennsylvania Republican Robert Bresnahan unloaded Centene shares ahead of a vote enacting $1 trillion in Medicaid cuts

UNITED STATES - NOVEMBER 15: Rep.-elect Robert Bresnahan, R-Pa., poses for a photo on the House steps after freshman members of Congress posed for their class photo on the House steps of the Capitol on Friday, November 15, 2024.
Rep. Robert Bresnahan poses for a photograph after joining other congressional freshmen of the 119th Congress for a group photograph on the steps of the House of Representatives at the U.S. Capitol Building on November 15, 2024, in Washington, D.C.
Image
Image

Overview

  • As of early July, Bresnahan has not established the qualified blind trust he promised to separate his personal investments from his congressional duties
  • Centene’s stock remains about 43 percent below its pre-sale value after plunging in late June following his May share sale
  • On July 3, Bresnahan voted to approve President Trump’s fiscal 2026 budget, cementing Medicaid reductions over the next decade
  • Senators Elizabeth Warren and Representatives Maxwell Frost and Melanie Stansbury have publicly condemned his timing and urged stricter congressional ethics rules
  • Roughly 27 percent of residents in Bresnahan’s Pennsylvania district rely on Medicaid, underscoring the local impact of the federal funding cuts