The US midterm elections are taking place on Tuesday, November 3, with voters deciding who will control Congress and choosing governors in 36 states. President Donald Trump is not on the ballot, but the outcome could shape his ability to advance legislation and influence companies that depend on federal policy and funding, including major technology firms.
All 435 seats in the House of Representatives are up for election, along with 35 of the Senate’s 100 seats. House members serve two-year terms, while senators serve six-year terms, so only part of the Senate is elected each cycle. Voters will also choose governors in 36 states.
Republicans won majorities in both chambers in 2024, giving Trump a clearer path for his proposals, although their narrow advantage has complicated some votes. Democrats are now seeking to gain ground, with projections suggesting they could take the House and are also competing for control of the Senate. A Democratic win in either chamber would not remove Trump from office, but could make legislation harder to pass and give the opposition more scope to investigate his administration.
Control of a chamber also gives a party the power to summon company executives to testify and request internal documents. That could bring businesses into congressional scrutiny over public contracts, commercial decisions, political donations or projects tied to the government. Apple, Nvidia, Cisco and Salesforce have previously faced lawmakers’ questions about government-related initiatives or import tax exemptions. Investigations can create negative publicity and concern among investors even when no wrongdoing has been established.
Artificial intelligence is one area where the election could affect major business plans. The White House is pushing for rapid construction of large data centers, while Microsoft, Amazon, Alphabet and Meta plan to invest more than $1 trillion in the infrastructure. Local communities have raised concerns about water use and higher electricity bills, and lawmakers have not agreed on whether technology companies should cover additional power costs. The makeup of Congress could influence debate over those obligations and funding, though state and local authorities will also affect which projects proceed.
Congressional decisions on federal spending matter to defense companies and healthcare providers as well. The administration is seeking funding for military inventories and operations, as well as long-term contracts such as the purchase of hundreds of Lockheed Martin fighter jets. Some defense initiatives, including efforts to counter China and modernize missiles, have bipartisan support, while other spending could be frozen or redirected. In healthcare, potential Medicaid cuts have raised concerns for specialist insurers and hospitals; a stronger opposition could seek to block reductions during budget negotiations.
The results may also shape rules for cryptocurrency and banking. Coinbase and other crypto companies want clearer, more lasting rules, while legislation backed by the administration has encountered difficulties in the Senate. A stronger opposition could increase pressure for consumer protections and market oversight. Banks, meanwhile, are watching for stability in capital rules set by the Federal Reserve, and the Senate’s role in approving nominees to regulatory leadership positions gives its political balance added importance.
Unlike Brazil, the United States has no single national election authority responsible for coordinating voting and consolidating results. Each state sets its own voting and counting rules. Counting generally begins after polling places close, and mailed ballots can extend the process. Recounts may also be required when a race is very close.
Initial results are expected on election night, but control of the House and Senate may take days to determine. The final outcome can take longer in close contests or in states that need more time to process mail ballots. The Associated Press uses official information gathered by journalists and statistical analysis to project winners before all votes have been counted.
Sources: Olhar Digital.