Democrats rejoice as disgraced and indicted GOP congressman reverses and announces re-election bid
Rep. Chris Collins (R-NY) -- CNN screengrab

New York Republican U.S. Rep. Chris Collins, who was indicted for insider trading, has just announced he is reversing course and will seek re-election. Collins was the first U.S. Congressman to support Donald Trump's bid for the White House. Days after his indictment, Collins had announced he would retire at the end of his term.

“Because of the protracted and uncertain nature of any legal effort to replace Congressman Collins we do not see a path allowing Congressman Collins to be replaced on the ballot,” Collins' attorney Mark Braden said in a statement, as The Buffalo News first reported.

Democrats see this as a positive development, giving them greater chances of taking the upstate New York seat.

"Collins' decision brought cheers Monday when it was announced at a rally for his Democratic opponent, Grand Island Supervisor Nate McMurray."

Rep. Collins, 68, was accused of telephoning family members while at a White House function, warning them a pharmaceutical company's major drug had filed its test, which would cause the stock to plummet. Collins sits on the board of that manufacturer and was caught on camera during the White House event in what is believed to be the phone call.