Democrats are currently favored to reclaim the majority in at least one chamber of Congress in the U.S. elections Nov. 3, but whatever the result, the midterms promise to have significant implications for federal policymaking, with the outcomes influencing the direction of tax policy, healthcare legislation, trade measures and congressional oversight for the final two years of the Trump administration.
In this episode of Grant Thornton’s D.C. Dispatch podcast, Grant Thornton Partner Storme Sixeas and Manager Colin Wilhelm from our Washington National Tax Office speak with Ashley Schapitl of TLG Communications and Liam Donovan of Targeted Victory about the state of the midterm campaigns and the policy implications for businesses of a potential shift in congressional power.
Their discussion highlights the extent to which affordability concerns continue to shape the political landscape. Rising healthcare costs, energy prices and other household expenses remain central issues for voters, creating challenges for GOP policymakers seeking to build support around last year’s tax measure, the One Big Beautiful Bill Act. The group also explores how a change in congressional control could influence legislative priorities, including healthcare, government funding and other affordability-related measures — and whether there may be any room for bipartisan work in the case of a divided Congress.
The episode’s conversation also explores the future of trade policy and tariffs, which have become increasingly tied to broader debates around domestic manufacturing, economic competitiveness and consumer costs. The podcast guests agreed that while Democrats might not support some of the sweeping tariff measures the president has enacted, it would probably be a mistake for businesses to expect a full reversal if the party regains control.
For a deeper look at the political dynamics shaping the midterm elections and what the results could mean for businesses and federal policy, listen to the full podcast.
PODCAST
The midterms are almost here. We’re gaming out the results
Listen to the podcast
38:39 | Transcript (PDF - 3.56MB)
Podcast highlights
00:06 Introductions
01:16 The midterm outlook in the final weeks
08:20 Tax bill milestones and tax bill aspirations
14:40 Tariffs and trade policy in the battleground states
22:09 Democratic priorities and their limits
28:50 Bipartisan opportunities
31:26 Working with and working against Trump
36:43 House, Senate predictions and closing thoughts
Contacts:
Partner, Tax Legislative Affairs Leader
Washington National Tax Office
Grant Thornton Advisors LLC
Storme Sixeas serves as the Tax Legislative Affairs leader for Grant Thornton’s Washington National Tax Office.
Manager, Tax Legislative Affairs
Washington National Tax Office
Grant Thornton Advisors LLC
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