Key Takeaways
- • Senate Democrats plan investigations into private equity's impact on living costs, data center taxation, and AI concerns if they win the Senate in the November 2026 midterms, according to a key Democratic Senate aide.
- • Daniel Goshorn, chief investigative counsel on the Senate Finance Committee's Democratic side, said private equity financial structures may affect healthcare costs and housing, speaking at a Mayer Brown event.
- • A Senate win would make ranking member Ron Wyden chair of the powerful Senate Finance Committee.
- • Financial institutions may receive congressional requests for information if the Trump administration does not cooperate, Goshorn said.
- • Betting markets put the chance of a clean Democratic sweep of Congress above 50%, while the Senate contest is seen as very close.
Summary
US Senate Democrats plan to launch a range of investigations if they retake the chamber in next week's midterm elections, a key Democratic Senate aide said on Thursday, according to Reuters. The probes would extend beyond cost-of-living issues to include private equity's influence on living costs, the taxation of data centers, and public concerns about artificial intelligence.
Daniel Goshorn, chief investigative counsel on the Senate Finance Committee for the Democratic side, said at an event at Mayer Brown law firm that private equity is a major focus for many Senate members. He said the way financial structures in private equity might affect healthcare costs, housing and other essentials is under scrutiny. He also said taxation of data centers and responses to the public outcry over AI would be priorities.
A Senate victory would give Ron Wyden, the current ranking member, leadership of the powerful Senate Finance Committee. Wyden and other Democrats are prioritizing corruption and affordability probes. Goshorn said the investigations would not focus solely on cost of living, citing Jeffrey Epstein and the Trump administration's use of pardons as exceptions. Reuters reported earlier this month that Trump has pardoned scores of public officials charged with or convicted of corruption-related crimes, most of them Republicans or vocal MAGA supporters.
Goshorn also said banks could receive information requests if the Trump administration does not cooperate. "Financial institutions are going to be identified as repositories of information that may help Congress achieve its oversight goals without going through the front door," he said.
Thirty-five of the 100 Senate seats and all 435 House seats are up on Tuesday. Nonpartisan analysts generally favor Democrats to capture the House, while the Senate race is seen as very close. Trump's approval has fallen to a near-record low amid discontent over living costs and the Iran war.
Daniel Goshorn, chief investigative counsel on the Senate Finance Committee for the Democratic side, said at an event at Mayer Brown law firm that private equity is a major focus for many Senate members. He said the way financial structures in private equity might affect healthcare costs, housing and other essentials is under scrutiny. He also said taxation of data centers and responses to the public outcry over AI would be priorities.
A Senate victory would give Ron Wyden, the current ranking member, leadership of the powerful Senate Finance Committee. Wyden and other Democrats are prioritizing corruption and affordability probes. Goshorn said the investigations would not focus solely on cost of living, citing Jeffrey Epstein and the Trump administration's use of pardons as exceptions. Reuters reported earlier this month that Trump has pardoned scores of public officials charged with or convicted of corruption-related crimes, most of them Republicans or vocal MAGA supporters.
Goshorn also said banks could receive information requests if the Trump administration does not cooperate. "Financial institutions are going to be identified as repositories of information that may help Congress achieve its oversight goals without going through the front door," he said.
Thirty-five of the 100 Senate seats and all 435 House seats are up on Tuesday. Nonpartisan analysts generally favor Democrats to capture the House, while the Senate race is seen as very close. Trump's approval has fallen to a near-record low amid discontent over living costs and the Iran war.
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