Rep. Rob Bresnahan Jr. (R-PA) has become among the most active stock traders in Congress, and his latest disclosure has drawn such intense scrutiny that even his own Republican colleagues are privately admitting the controversy could end up costing the GOP a key seat in the House.
“Democrats are working to weaponize Mr. Bresnahan’s trades against him as they plot a campaign to oust him in next year’s midterm elections,” wrote Annie Karni Saturday in a report for The New York Times.
“And some Republicans privately concede that the issue could hurt him in his highly competitive district as they attempt to hold onto their slim House majority.”
Despite having introduced a bill in May to prohibit members of Congress from trading stocks, Bresnahan has gone on to become the second-most active trader in Congress, behind only Rep. Ro Khanna (D-CA), making 626 trades through July with a volume of $7.3 million. With a net worth now estimated at $69 million, Bresnahan has also managed to purchase, secretly, his own personal helicopter.
And now, his latest trades are only drawing further scrutiny from critics.
“It is the possibility – or at least the appearance of one – that he could be benefiting financially from votes he made in Congress in favor of elements of President Trump’s domestic policy agenda that could end up harming his constituents,” Karni wrote.
For instance, Bresnahan sold as much as $250,000 in bonds for the Allegheny County Hospital Development Authority for the University of Pittsburgh Medical Center. This sale came just a month after he voted for President Donald Trump’s budget reconciliation package set to enact sweeping cuts to Medicaid, a bill that could land the medical center in extreme financial distress, and potential closure.
Bresnahan also sold as much as $15,000 in stock in the Medicaid plan provider Centene on May 15, with stock for the company plummeting by around 40% after the budget reconciliation package – known as the One Big Beautiful Bill Act – was signed into law less than two months later.
“His prolific stock trading is more than just a broken promise,” said Eli Cousin, a spokesperson for the Democratic Congressional Campaign Committee, speaking with The New York Times. “It’s political malpractice and a scandal of his own making that will define his time in Washington and be a major reason why he will lose his seat.”
The campaign to oust Bresnahan of his swing-seat district is already well underway, with the nonprofit advocacy group NRDC Action Fund having already launched a six-figure ad campaign against the GOP lawmaker.
“Multimillionaire Congressman Rob Bresnahan is more concerned about boosting his own stock portfolio than protecting his constituents from higher electricity bills and defending countless jobs across Pennsylvania,” said Christy Goldfuss, executive director of the NRDC Action Fund in a recent release from the group.
“This isn’t just about the remarkably convenient timing of his stock trades. It’s about his lack of care for people he represents who will pay more while their congressman enriches himself.”