Trump Affordability Agenda Stalls Ahead of 2026 Midterms

President Donald Trump's push to address affordability ahead of the 2026 midterm elections has stalled after his administration abandoned a proposed 10% cap on credit-card interest rates following pushback from banks and economists. JPMorgan Chase & Co. CEO Jamie Dimon warned the cap would cause economic disaster, while Trump ally Stephen Moore cautioned it could restrict consumer credit and risk a recession. House Speaker Mike Johnson dismissed the idea as "out-of-the-box" with negative secondary effects.

Two executive orders—one to broaden mortgage credit access and another to streamline builder regulations—remain unimplemented, further blunting the administration's housing agenda. The White House has pointed to a drug-price reduction deal with Regeneron as a win, but the war in Iran has driven gas prices higher, dampening housing demand and offsetting gains.

Senator Elizabeth Warren has pressured regulators to act on rising credit costs, creating a cross-party dynamic where neither side has advanced a concrete solution. The policy pause now threatens to weaken Republican control of Congress and could curtail the president's remaining agenda heading into the midterms.