GOP Lawmaker Caught 'Selling' Stock in Healthcare Group That Accepts Medicaid as 'Big, Beautiful Bill' Passes House, Trade Insider Says
According to Quiver Quantitative, which tracks stock trading among insiders, including Congress, Bresnahan sold his shares in Centene Corporation on May 15, days before the House initially advanced President Donald Trump's so-called "Big, Beautiful Bill," which includes sweeping tax cuts and spending increases. Critics warn the legislation could strain Medicaid funding and other social safety net programs.
Centene ($CNC) stock has since cratered, falling over 43% since Bresnahan's trade, while the broader S&P 500 (SPY) rose about 5% in the same period.
The "Big, Beautiful Bill" passed the Senate last week and returned to the House after amendments were made. The massive tax and spending bill passed the House once again Thursday and now heads to Trump's desk.
Bresnahan insists he does not personally manage his investments and says his financial advisor made the trade. He has pledged to place his assets into a blind trust but, according to Quiver Quantitative, has yet to do so.
In early May, Bresnahan introduced a bill to ban congressional stock trading. He campaigned on restoring trust in government, but has come under scrutiny after disclosures revealed he reportedly made over $4 million in trades during his first months in office.
Originally published on Latin Times
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Int'l Business Times
9 hours ago
- Int'l Business Times
Rural Nebraska Hospital Shuts Down Over 'Anticipated Cuts to Medicaid' Hours Before 'Big, Beautiful Bill' Passes
A small town clinic in southwest Nebraska will close its doors after more than three decades, citing financial strain and looming federal cuts to Medicaid. Community Hospital in McCook announced Wednesday that it will be shutting down the Curtis Medical Center in Curtis — a community of roughly 900 residents. The announcement, reported by KLKN-TV, came just before Congress passed President Donald Trump's sweeping "Big Beautiful Bill" on Thursday. "Unfortunately, the current financial environment, driven by anticipated federal budget cuts to Medicaid, has made it impossible for us to continue operating all of our services, many of which have faced significant financial challenges for years," Community Hospital CEO Troy Bruntz said in a statement obtained by the outlet. The clinic, whose motto is, "Advanced care. Always there," will phase out operations over the coming months. Vince McMahon, the chairman of WWE, is willing to spend big to ensure top stars do not leave for rival companies. In this picture, McMahon attends a press conference to announce that WWE Wrestlemania 29 will be held at MetLife Stadium in 2013 at MetLife Stadium in East Rutherford, New Jersey, Feb. 16, 2012. Michael N. Todaro/Getty Images Despite representing Vermont, Sen. Bernie Sanders spoke out about the hospital's closure, warning that it will likely be "the first of many" due to the estimated Medicaid cuts included in the tax and spending bill. "While Republicans celebrate the passage of the largest Medicaid cut in history, the Curtis Medical Center in Nebraska announced it will shut down as a result of these horrific cuts — the first of many hospitals to close," Sanders said. "This is a dark day for rural America and for our country," he continued. The Nebraska Hospital Association and other rural health advocates have sounded alarms about the bill's potential impact, warning it could force more clinics and hospitals in underserved areas to cut services or close. Originally published on Latin Times
Int'l Business Times
9 hours ago
- Int'l Business Times
Not Tired Of Winning: Trump On A Roll, For Now
Even for a man who once boasted that his supporters would get "tired of winning," US President Donald Trump is on a roll. The 79-year-old's victory on his "One Big, Beautiful" bill is the latest in a series of consequential successes at home and abroad in the past two weeks. From US airstrikes that led to an Iran-Israel ceasefire, to a NATO spending deal and a massive Supreme Court win, they have underscored Trump's growing power. The Republican will now take a victory lap wrapped up in the US flag after Congress passed the tax and spending bill that embodies the political goals of his second term. He will sign it at an Independence Day event at the White House on Friday featuring a flyover by a B-2 stealth bomber, the type of aircraft used in the US raids on Iranian nuclear sites. "It's going to be a HOT TRUMP SUMMER," the White House said on social media. After the bill passed, White House Deputy Chief of Staff, Dan Scavino, posted a video of Trump telling a campaign rally during his first presidential run in 2016 that "we're going to win so much, you may even get tired of winning. And you'll say, 'Please, please. It's too much winning." The author of the book "Trump: The Art of the Deal" has bragged of several in recent weeks, but the bill is arguably the biggest. It honors many of the pledges he made in the 2024 election with its tax cuts and funding for his mass migrant deportation program. It also showed his ability to get his Republican party to fall in line despite bruising infighting -- and a major row with his billionaire former ally Elon Musk. But more importantly for a man who openly wants to join the pantheon of US presidents whose faces are carved into Mount Rushmore, it promises to consolidate his legacy. The bill seals Trump's hard-line US domestic policy into law -- in contrast to the rash of presidential executive orders he has signed that can be overturned by his successors. Yet Trump still faces a series of challenges. They start with selling a bill that polls show is deeply unpopular among Americans due to its huge cuts to welfare and tax breaks for the rich. "The president needs to lead the effort to go out and explain it, he has the biggest megaphone in America," Karl Rove, the White House deputy chief of staff under president George W. Bush, told Fox News. Rove added that it would have a "huge impact" on the US midterm elections in 2026, as Democrats pounce on it and people realize that they are losing healthcare coverage. "The work is just beginning." Trump was talking about the bill at a campaign-style rally in Iowa on Thursday that was also kicking off celebrations for America's 250th anniversary year. Trump's winning streak has meanwhile fueled the self-belief of a man who said he had been "saved by God to make America great again" after he survived an assassination attempt last year. But the next prizes could be far harder to obtain. After the Iran-Israel ceasefire, Trump has stepped up his search for a deal to end to the brutal war in Gaza between Israel and Hamas. He will host Israeli Prime Minister Benjamin Netanyahu at the White House on Monday in push him -- but peace has proven cruelly elusive in the 22-month conflict. Trump's election campaign promise to end Russia's war in Ukraine within 24 hours has also stalled, despite him having his sixth call with Russian President Vladimir Putin earlier on Thursday. The US president is meanwhile due to reimpose steep tariffs on dozens of economies next week. He has insisted that countries will either bow to him and reach a deal or face sweeping levies, but global markets remain gripped by uncertainty. White House Press Secretary Karoline Leavitt however insisted that Trump would do what he had promised. "Despite the doubters and the Panicans, President Trump has delivered win after win for the American people," Leavitt told reporters. US Speaker of the House Mike Johnson (C) alongside US Republican lawmakers, celebrates the passing of US President Donald Trump's tax bill AFP US President Donald Trump will push for a Gaza deal when he meets Israeli Prime Minister Benjamin Netanyahu AFP
Int'l Business Times
9 hours ago
- Int'l Business Times
Democrats Secretly Hope Republican Rep's Campaign to Deport Zohran Mamdani is 'Successful,' Lawmaker Claims
Tennessee Rep. Andy Ogles claimed a Democratic lawmaker expressed support for his campaign to deport Democratic Socialist and New York City mayoral hopeful Zohran Mamdani, saying they hope it is "successful." Ogles appeared Thursday on "The Benny Show," a podcast hosted by conservative commentator Benny Johnson, where he made a stunning claim about bipartisan support for his efforts against Mamdani. "I had a Democratic member of Congress come up to me on the House floor yesterday," Ogles said. "And he said, 'You know what, this is officially where I'd say you're a horrible human being for targeting Zohran in New York. But the reality is, we hope, we as Democrats, hope you're successful because he's the worst thing that's ever happened to our party.'" "That's a Democratic member of Congress coming to me on the House floor and thanking me for targeting this knucklehead, because he's a Socialist Marxist," Ogles continued. "He's gonna destroy the city of New York." The former Tennessee mayor went on to argue that Mamdani "represents everything that's wrong with the Democratic Party," claiming Mamdani's run will help Republicans win the midterms and the White House—again—in four years. Last week, Ogles sent a letter to Attorney General Pam Bondi urging a federal investigation into whether Mamdani, a naturalized U.S. citizen born in Uganda, could potentially be deported for past statements, including a rap performance in which he called for the release of the Holy Land Five. The group of five men was convicted and sentenced to between 15 and 65 years in prison in 2008 for allegedly supporting terrorism, money laundering and tax fraud through the Holy Land Foundation for Relief and Development. On Monday, White House Press Secretary Karoline Leavitt stated that, if true, Ogles' accusation warrants an investigation. President Donald Trump has also condemned Mamdani, warning that he could face arrest if he interferes with Immigration and Customs Enforcement (ICE) operations. Originally published on Latin Times
