Rep. Rob Bresnahan sold stock in several Medicaid providers before voting for cuts
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Rep. Rob Bresnahan has come under scrutiny after selling six-figures worth of stock in several major Medicaid providers just a week before voting to cut Medicaid funding significantly. Reporting by NBC News, which cited Capitol Trades data, highlights how these transactions underscore ongoing concerns about potential conflicts of interest among members of Congress.
According to federal disclosure documents reviewed by NBC News, Bresnahan sold stock in Centene, Elevance Health, UnitedHealth, and CVS Health on May 15. Together, these four companies manage nearly half of all Medicaid enrollees in the United States. Seven days later, Bresnahan voted in favor of President Donald Trump’s “mega bill,” which reduced Medicaid funding by nearly $1 trillion.
While Bresnahan has maintained that he did not direct his financial advisors on buying or selling stock, the timing of these trades has attracted attention. Prior to the sale, he introduced legislation aimed at banning congressional stock trading and announced he was moving his holdings into a blind trust. Despite this, according to Capitol Trades, Bresnahan remains one of the most active traders in Congress, ranking seventh in the number of trades reported this year.
The disclosures come as Congress explores broader restrictions on stock trading by lawmakers. Members of both parties have faced criticism for investing in industries over which they hold legislative or oversight authority, prompting hearings and renewed debate over a possible ban. Proponents argue that even without insider trading, the ability to profit from policy decisions presents a conflict of interest.
“Part of the fact-finding is what members have done in terms of trading, sometimes on a daily basis,” Rep. Brian Fitzpatrick said ahead of the House Administration Committee hearing on the issue. Supporters of a ban, like Rep. Anna Paulina Luna, have signaled they may push for a floor vote if leadership does not act decisively.
Critics of a ban caution that implementing restrictions is complicated, noting potential implications for spouses, inherited assets, and the financial realities of congressional service. Despite these debates, public opinion remains strongly in favor of limiting stock trading by members of Congress, reflecting growing concerns about transparency and accountability.
Capitol Trades data continues to provide a clear view of congressional investment activity, giving journalists, researchers, and the public insight into how lawmakers manage their personal finances while shaping national policy.
