What the Midterm Results Could Mean For Your Money Before 2027
The 2026 midterms produced a deluge across America that will likely impact your wallet.
Democrats flipped both the House and Senate, meaning a major shift is likely on the horizon. However, new members of Congress won’t be sworn in until Jan. 3, 2027, according to Congress.gov.
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While the new legislators won’t take office until next year, Americans have made their voices heard. This could inspire current lawmakers to spend the rest of 2026 making meaningful changes.
Here’s a look at what the midterm results could mean for your wallet before the end of this year.
Gas
As of Nov. 4, the average price of gas was $4.12 per gallon, according to AAA.
President Donald Trump and many current members of Congress have expressed an interest in suspending the federal gas tax, according to Congress.gov. Since voters have loudly expressed their displeasure with the current Congress, it’s possible this could become a reality.
The president and existing congressional leaders could view a temporary suspension of the federal gas tax as a way to appease Americans. It wouldn’t be a huge stretch, as Trump issued an executive order deferring certain diesel fuel tax payments on Oct. 5, to temporarily lower diesel prices.
Healthcare
Only 49% of Americans can consistently afford healthcare, according to a Gallup poll.
In September, Mark R. Warner, (D-VA), introduced the “Health for the Commonwealth through Affordability, Reform and Expansion Act of 2026” – i.e., the Health CARE Act. If passed, it would lower healthcare costs, expand coverage and provide Americans with easier access to care.
As of Nov. 4, the status of the bill is listed at 25% progression, and referred to the Committee on Finance, according to LegiScan. Existing lawmakers could be compelled to give this bill renewed attention.
Housing
The average home value in the U.S. is $366,157, according to Zillow. For many Americans, this cost is prohibitive.
In February, Reps. Rudy Yakym (R-IN) and Gwen Moore (D-WI) introduced the Affordable Housing Bond Enhancement Act. Designed to boost access and sustainability of homeownership for working families, the bill also offers provisions to help Americans update their homes to combat natural disasters.
As of Nov. 4, the bill has realized 25% progression and has been referred to the House Committee on Ways and Means, according to LegiScan. Legislators may be inspired to focus on this bill, as a way to please constituents.
Food
Just over half – 53% -- of Americans feel grocery prices are affordable, according to the Acosta Group Affordability Tracker.
Introduced in February by Sens. Ben Ray Lujan (D-N.M.) and Jeff Merkley (D-OR), the “Stop Price Gouging in Grocery Stores Act of 2026” aims to prohibit corporations from using new technologies to increase grocery prices. This would involve banning surveillance pricing in supermarkets and using personal data to set individual prices for grocery items.
As of Nov. 4, this bill has a 25% progression status, according to LegiScan. It has been referred to the Committee on Commerce, Science and Transportation. Members of Congress may take a renewed interest in this bill, now that voters have made their voices clear.
Editor’s note on political coverage: MoneyLion is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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