Gaming Out the Prospect of a Blue Wave
A Democratic sweep of the House and Senate and a strong showing in statehouses across the country could have a profound effect on policy, including on:
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artificial intelligence and data centers
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It may also lead to nastier budget disputes, and it could increase the risk of government shutdowns.
Trump seems to be bracing for a threat to his power — and to his inner circle. On Monday, he told Miranda Devine, the New York Post columnist, that he was open to pre-emptive pardons for top allies and supporters, including Elon Musk. The president downplayed the idea that Democrats wanted to arrest Musk or go after his business empire, including by nationalizing SpaceX.
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That said, Robert Reich, the former labor secretary, recently argued on his podcast that Democrats should do just that if they regained control of Congress. Calls had been growing from both parties for Musk to be investigated over the decision to throttle Starlink in Ukraine last month, briefly hobbling the country’s military.
A blue sweep could embolden Democratic lawmakers to scrutinize companies (or even their C.E.O.s.) that have embraced Trump, or that were seen to curry favor from his administration, analysts say.
Such investigations could come in the guise of stopping corruption, a growing concern among voters. The House Democratic leader, Hakeem Jeffries, seemed to put corporate America on notice in September. “We’re going to hold the crooks accountable beginning on Day 1,” he said.
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Article source: https://www.nytimes.com/2026/11/03/business/dealbook/blue-wave-business-market-ramifications.html