Republican Representative Chris Collins of New York has announced today that he is officially suspending his re-election campaign after being charged with insider trading this week.
According to CNBC, "the embattled New York Republican who represents the state's 27th Congressional district said that 'after extensive discussions with my family and my friends over the last few days, I have decided that it is in the best interests of the constituents of NY-27, the Republican Party and President Trump's agenda for me to suspend my campaign for re-election to Congress.'"
Collins' district, which is in the Western part of New York, is considered heavily Republican. Yet his travails come at a time when Democrats are on the offensive ahead of the midterm elections, and generic polls show them widely favored to recapture the House of Representatives at the very least.
'Democrats are laser focused on taking back the House, electing Nancy Pelosi Speaker and then launching impeachment proceedings against President Trump,' Collins' statement read.
'They would like nothing more than to elect an 'Impeach Trump' Democrat in this District, which is something that neither our country or my party can afford,' he added."
As reported by Cortney, "Rep. Collins pleaded not guilty at his arraignment hearing in lower Manhattan Wednesday. The judge set a $500,000 bond for the congressman. Collins also reportedly has no plans to resign."
According to Rep. Collins statement, he will continue out his term and fight the "meritless" charges against him.