What Democrats’ control of Congress means for your money

With Democrats flipping control of Congress in the midterm election, the shift in power on Capitol Hill could reshape household budgets — from student loan bills and health insurance premiums to housing costs and taxes.

Experts say results show that rising costs were top of mind for voters.

“I see this election as a repudiation of the anti-affordability agenda from the Trump administration,” said Daniel Bunn, president and CEO of the Tax Foundation, a nonpartisan, nonprofit research organization.

“Whether that’s the conflict in the Middle East or the tariffs, just top to bottom, it’s clear to me that was a real concern of the electorate,” he said.

White House spokesman Matthew Middleton said in an emailed statement that the Trump administration has delivered “tangible wins to make life more affordable for American families.” Officials “will continue to put hardworking American’s first with or without support from Democrats,” he wrote.

Democrats won control of both the House of Representatives and Senate, which could make it easier for the party to advance legislation. They can also use hearings and investigations to press federal agencies and companies to answer for policies and practices that impact consumers, and exert leverage over confirmation of President Donald Trump’s nominees.

But turning campaign promises into changes people feel in their finances won’t be easy. Trump can veto bills a Democrat-controlled Congress passes, limiting how much of their agenda could become law. Based on projections, Democrats will lack the numbers needed to override a presidential veto.

Any changes will also take time: Newly elected members of Congress won’t take office until January.

Here are eight ways Democrats’ new congressional majority could affect your money.

• Medicaid: Starting in 2027, states will be required to implement work requirements as a condition of Medicaid enrollment, due to the “one big beautiful bill” act, or OBBBA, the Republican-led Congress passed in 2025. Democrats will likely try to loosen those rules, and thereby avoid a large increase in the number of uninsured, Gaumer said.

• Long-term care: Medicare generally doesn’t cover long-term care services, but Democrats may try to add some LTC coverage to the program’s purview, Gaumer said. “That’s an interest of several Democrats on the Hill right now,” he said.