Rep. Rob Bresnahan (PA-08) Fails to Follow Through On Campaign Promises That Jeopardize His Ability to Profit from Public Office

PENNSYLVANIA - Actions speak louder than words, and Congressman Rob Bresnahan (PA-08) continues to say one thing to his constituents and do the opposite. Recent reporting highlights how Bresnahan has already broken two major promises to constituents in his first few months in office. Despite committing to ban congressional stock trading if elected, Bresnahan has become “one of the House's most prolific traders.” Similarly, after vowing not to support a reconciliation bill that cuts Medicaid, Bresnahan quickly flipped and voted for the largest cuts to Medicaid and SNAP in history, threatening critical benefits for hundreds of thousands of his own constituents in order to fund billionaire tax breaks.

“Rob Bresnahan has repeatedly lied to his constituents, vowing to protect programs families rely on just to turn around and cut them to fund billionaire tax breaks. Now we are learning that Bresnahan could personally benefit from the same vote that is slashing benefits for the working families he represents,” said Rachele Fortier, executive director of Affordable Pennsylvania. “Bresnahan was elected to represent the interests of PA-08 residents, not to enrich himself at their expense. We urge Congressman Bresnahan to keep his word and follow through on his campaign promises - even if it costs him a little extra pocket money.”

ICYMI: Business Insider: He said he'd ban stock trading in Congress. He's made more than 530 trades since taking office.

• Rep. Rob Bresnahan said he would ban stock trading when he got to Congress. Since the Pennsylvania Republican took office in January, he's traded securities at least 530 times.

• Forty of those trades, worth at least $166,000, were made after May 6, when he announced that he would move his assets into a blind trust.

• In March 2021, Bresnahan penned an op-ed in a local paper stating that if elected, he would co-sponsor legislation to ban stock trading in Congress.

• "Some of the most prolific traders in the country serve in Congress," Bresnahan wrote. "Whether or not they have done something wrong, the idea that we can buy and sell stocks while voting on legislation that will have a direct impact on these companies is wrong and needs to come to an end immediately."

• The Pennsylvania Republican has emerged as one of the House's most prolific traders. After the New York Times first reported on Bresnahan's trades, his office said he would introduce his own bill instead. One month later, he did, introducing the "TRUST Act," a name that sounded similar to an existing stock ban bill, the TRUST in Congress Act.

• "I have never traded my own stocks, but I want to guarantee accountability to my constituents," the congressman said in a May 6 press release. "That is why I am working with House Ethics to begin the process of enacting a blind trust. I want the people I represent to trust that I am in Congress to serve them, and them alone."

ICYMI: Common Dreams: These Six Republicans Stand to Profit After Breaking Their Vow to Protect Medicaid

• Just five weeks after pledging that they would not support the Republican Party's budget reconciliation package if it included cuts to Medicaid, six GOP lawmakers ultimately did just that on Thursday morning—and an analysis by government watchdog Accountable.US suggested they voted for the legislation to benefit themselves, despite the suffering it would cause for their constituents.

• The bill that passed in the House Thursday would raise the percentage of qualifying business income—such as rental income—people can deduct from their taxes from 20% to 23%. The provision is now set to expire at the end of the year.

• "We cannot and will not support a final reconciliation bill that includes any reduction in Medicaid coverage for vulnerable populations," wrote the lawmakers last month. "Cuts to Medicaid also threaten the viability of hospitals, nursing homes, and safety-net providers, nationwide. Many hospitals—particularly in rural and underserved areas—rely heavily on Medicaid funding, with some receiving over half their revenue from the program alone."

• "It is the peak of hypocrisy that the loudest and most vocal opponents of Medicaid cuts cowered in a matter of days in favor of a bill that will make the largest cuts to Medicaid in modern history—all to pay for lower taxes for the richest," said Tony Carrk, executive director of Accountable.US. "Even worse, those very members stand to financially gain from those tax cuts, while their own constituents lose their healthcare. Their votes aren't just a flip-flop; they are a betrayal to hardworking Americans everywhere who will be worse off because of this bill."

• Bresnahan stands to benefit the most from the extension of Section 199A, The American Prospect reported, as he earned at least $137,000 from rental properties. Out of the six lawmakers, he also represents the most Medicaid beneficiaries: 230,000.

• "Millions of Americans will see their healthcare, food, and education costs skyrocket, all so House Republicans can hand themselves and their wealthiest donors a huge tax break," said Accountable. "The only 'winners' in this bill are the billionaires that paid for it."

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