Forecast Trend Report by Period

Democrats, Having Won Both Chambers, Begin Building New Leadership Team

Pledges an ‘Affordable America’

Signals Policy Shift Including Obamacare Restoration

On Trump Impeachment, Says Focus Is on Accountability

Democrats, after winning control of both the House and Senate in the Nov. 3 U.S. midterm elections, have begun assembling their next leadership team. In the Senate, New York Senator Chuck Schumer is the leading contender to serve as Democratic leader. In the House, House Democratic Leader Hakeem Jeffries of New York is set to succeed Speaker Mike Johnson.

Jeffries announced at a Nov. 4 press conference in Washington that he will run for speaker in the new Congress that convenes on Jan. 3. In a letter to colleagues released earlier, he said he would focus on three priorities: addressing the cost-of-living squeeze, establishing accountability for the Trump administration and restoring American values. Jeffries, regarded as former Speaker Nancy Pelosi’s heir, is already treated within the party as the presumptive next speaker.

Inflation Put Forward as Top Priority

At the press conference, Jeffries adopted the slogan “Affordable America,” signaling he wants to avoid the same voter backlash over prices that hurt Republicans.

He first pointed to repealing “Trump tariffs,” calling them “foolish tariffs” that have increased the burden on U.S. consumers. Those duties, he said, have cost ordinary American households thousands of dollars a year.

He also pledged to prevent a war with Iran. Jeffries said Democrats would pass legislation to block such a conflict, describing it as a reckless and costly war of choice that had already sent gasoline prices soaring nationwide. Still, whether any new bill can become law remains uncertain, given that Senate passage would require more than a two-thirds majority.

Jeffries also said Democrats would pass legislation reversing cuts to Medicaid, the health program for low-income Americans, and restore Affordable Care Act subsidies in the form of tax credits. That could add further strain to the federal budget, with U.S. debt already above $40 trillion.

He also drew a line, for now, against efforts to impeach President Donald Trump or Defense Secretary Pete Hegseth. Asked about impeaching Hegseth, Jeffries said no House Democrat had raised the issue with him and that his focus would remain on lowering prices and establishing accountability.

First Black Speaker, First Woman Leader, First Latino Whip

With a Democratic retaking of the House widely anticipated, key personnel decisions are already nearing completion. Katherine Clark of Massachusetts, the current House Democratic whip, is set to succeed Jeffries as Democratic leader. Jeffries said she would become “the first woman to serve in that position” in the nation’s 250-year history. Pete Aguilar of California is in line to take over Clark’s current post as whip. Together, the trio would mark the first Black House speaker, the first woman majority leader and the first Latino majority whip.

Clark said easing Americans’ financial burdens would be central to the Democratic agenda. That agenda, she said, includes expanding health care without favoring billionaires and lowering household costs, including housing and utility bills.

Because the majority party in Congress controls committee chairmanships, the leadership shift could also bring policy changes. In the Senate, Senator Elizabeth Warren is being discussed as a possible chair of the Banking Committee. That would likely lead to tighter oversight of large financial firms and tougher regulation of cryptocurrencies.

In the House, Representative Robert Garcia of California is set to chair the Oversight Committee and target corruption issues involving the Trump administration. Garcia issued a statement on Nov. 4 telling Trump and others to “hire a lawyer.”

Lee Sang-eun, Washington correspondent, Hankyung.com [email protected]

Korea Economic Daily