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Republican Congressman Robert Bresnahan of Pennsylvania were given publicly shamed by way of lots of his congressional colleagues on Thursday later it used to be discoverable he unloaded a Medicaid-related store ahead of vote casting for a large finances package deal that enacted traditionally fatal cuts to this system.
Quiver Quantitative, an funding information platform that tracks store trades made by way of politicians and alternative chief people figures, revealed on its X account that Bresnahan just lately bought stocks he’d owned in Centene Company, a for-profit company that makes a speciality of handing over healthcare exchanges for Medicaid. Within the weeks since he bought his stocks within the corporate, their price plunged by way of greater than 40 p.c.
Quiver Quantitative added that year Bresnahan claims to not govern his personal store portfolio, he does no longer seem to have arrange a certified aimless accept as true with that will do away with doable conflicts of hobby between his investments and his paintings as a member of Congress.
Regardless, lots of Bresnahan’s Democratic colleagues reacted with enrage and disgust to revelations that the Centene stocks had been dropped ahead of he voted for a invoice that can slash greater than $1 trillion from Medicaid and the Youngsters’s Fitness Insurance coverage Program (CHIP) over the span of a decade.
“This Congressman literally dumped stock in a Medicaid provider company right before this bill came to the floor,” wrote Rep. Melanie Stansbury (D-N.M.) on X. “Don’t be fooled — these guys know exactly what they’re doing.”
“Wow,” marveled Rep. Maxwell Frost (D-Fla.). “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? That’s just evil and cruel.”
“If the Big Ugly Nasty Bill doesn’t hurt Medicaid, why are Republicans selling their Medicaid-associated stocks?” asked Rep. Delia Ramirez (D-Unwell.). “Their words say one thing, their actions another. Their bill will gut Medicaid and kill people, and they know it.”
Sen. Elizabeth Warren (D-Collection.) ripped Bresnahan for “protecting his stock portfolio while ripping away health care from 17 million Americans” along with his vote to intestine Medicaid.
“This is Washington at its worst,” she added. “We need to ban Congressional stock trading.”
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