Where Do We Go From Here? What To Expect in Congressional Oversight and Investigations after the 2026 Midterm Elections

With just a few months to go until the U.S. midterm elections, it seems likely that congressional investigators will soon be focusing their spotlights anew on the private sector.

Redistricting efforts around the country make it harder to predict how the upcoming midterm elections will shake out. But current projections suggest control of the House may change hands next year, shifting the gavel from Republicans to Democrats. If Democrats take the majority in the House in 2027, they will do so along with the teams of Hill investigators poised to conduct aggressive oversight of the Administration and the private sector.

While committees may start by sending waves of document requests (and perhaps subpoenas) to Executive Branch agencies, those requests will likely meet resistance. The private sector should expect Democrat-led investigations to quickly turn their way when Congress is unable to obtain information from the Administration. Democratic investigations ultimately will seek examples and narratives to criticize the Administration in the short-term and build issues that resonate politically ahead of the 2028 presidential race. Indeed, Democrats currently in the minority have already begun sending letters previewing their investigative priorities and requests for the next Congress.

In anticipation of those requests, some companies are already taking steps to prepare for potential investigations. Others that have been targeted already, or that expect scrutiny, are also well advised to take stock and begin preparations.

If Past Is Prologue

The 2026 midterm elections are projected to end the Republicans’ control of at least one chamber of Congress. Polling suggests that the House is squarely in play, whereas the Senate is a steeper hill for the Democrats to climb. It would also be consistent with historical patterns—the President’s party has lost seats in 20 of the past 22 midterm House elections.[1] The Supreme Court’s April 29, 2026, ruling on the Voting Rights Act, along with redistricting developments in California, Texas, Florida, and several other states, have complicated the picture this year. Netting out the changes nationwide, redistricting appears to have resulted in approximately 10 districts now more favorable for Republicans.[2] Nevertheless, polling still suggests Democrats are more than likely to take control of the House—albeit by a slimmer margin than projected at some points. 

If the Democrats seize control of the House, this change in party control will shift the congressional investigations landscape as Democrats would gain subpoena power and the ability to compel both testimony and the production of documents and information. Hints at their investigative priorities already have started to appear. Recent actions—such as Democratic Members warning oil companies of the legal risks associated with Venezuelan oil transactions,[3] and over 30 letters to pharmaceutical manufacturers regarding “most-favored nation” drug pricing agreements with the Administration[4]—signal oversight activity likely to continue should House Democrats win the majority this November.

Engagement with the Administration

Congressional Democrats have already signaled that they plan to investigate deals, settlements, and other agreements with the current Administration. And such deals are not hard to find.[5] The White House website includes dedicated pages with running lists of “Major Investment Announcements” across industries.[6] News reports also suggest that current House Minority Leader Hakeem Jefferies (D-NY) is already working to coordinate investigations across committees that would look into deals between the private sector and the current Administration, establishing a centralized infrastructure for future oversight activities.[7]

These signals indicate that most any private-sector engagement with the current Administration could be heavily scrutinized—including contributors to various funds, initiatives, and related projects put forward by the Administration. In fact, Democratic Members in the House and the Senate have already sent numerous letters on these topics,[8] laying the groundwork for future inquiries that may be backed up by subpoena power.

Potential Industries and Topics of Interest

While we anticipate scrutiny spanning a wide variety of targets and industries, below we preview a few examples based on current and developing events.

• Tech & AI. Oversight of the tech industry has been, and will likely continue to be, a consistent focus of Democrats and Republicans, alike, including House Democrats if they take the majority this fall. The impacts of social media and technology around privacy, free speech, mental health, and children’s online safety have been identified repeatedly as key issues by Members on both sides of the aisle.[9] Should House Democrats win the majority, they will likely take an aggressive stance on these issues. The rapid rise of AI; the resultant growth of data centers and constituent impact (positive and negative);[10] and the Administration’s push for looser AI regulation,[11] federal control, and a moratorium on state AI laws would be obvious areas for Democrats to pursue an issue that has some bipartisan appeal even in some Republican-led states.[12] Investigations in this area could focus on the interactions behind the scenes with the White House as to AI and other issues impacting the industry, as well as rising electrical costs, mental health, child safety, deepfakes, and IP infringement.
  
  
• Pharma. As with tech, the pharmaceutical industry has been a consistent target of Democrats, with a particular focus on drug pricing in the United States. The traditional focus on the pharmaceutical industry will likely be coupled with concerns that congressional Democrats have about the most-favored nation deals with the Administration.[13] For instance, Democratic Members in both the House and Senate have already sent over 30 public letters focused on these agreements. Democrats will also scrutinize the TrumpRx platform, aiming to amplify criticisms around whether the program has delivered promised price reductions to consumers.[14]
  
  
• Oil & Gas. Given the ongoing controversy surrounding the current Administration’s actions against Iran and the former leadership of Venezuela, congressional Democrats will likely launch inquiries into the oil and gas industry’s dealings in both countries.[15] That could include inquiries and legislation around profits from rising oil prices due to the ongoing conflicts in and around Iran.[16] It could also include scrutiny of engagement with the current Administration on the waiver of many of the previously imposed sanctions on Venezuela’s oil industry and development of the country’s oil resources.[17] Thirteen House Democrats have already sent public letters to oil companies involved in these discussions, urging them to “bear in mind that it is possible that efforts to invalidate any such arrangements might be made by Congress, a subsequent Administration, or a future Venezuelan government, and that participation might present your company with legal and enforcement risk.”[18] Democrats may also continue pressing private industry on angles related to the Environmental Protection Agency’s rulemaking, including the revocation of the Endangerment Finding that supported rules limiting pollution.[19] In addition to requesting information and documents, some recent investigative letters have also demanded that recipients preserve all documents, communications, and data related to the investigation subject matter, further signaling Democratic committee leaders intent to pursue inquiries in the next Congress.[20]  
  
  
• Entertainment & Media. Congressional Democrats have criticized what they deem the current Administration’s efforts to reshape the media landscape and have sought information from media companies that have acceded to the Administration’s regulatory demands. For example, in August 2025, House Judiciary Committee Ranking Member Jamie Raskin (D-MD) and House Energy and Commerce Committee Ranking Member Frank Pallone, Jr. (D-NJ)—both of whom could chair their respective committees if Democrats take the House—sent multiple letters challenging a high-profile media company merger.[21] Separately, in February 2026, Senate Permanent Subcommittee on Investigations Ranking Member Richard Blumenthal (D-CT) sent a letter challenging the same announced merger and alleging censorship and “political pressure.”[22]
  
  
• Affordability & Consumer Protection. Across industries, affordability issues will likely continue to be a focus for Democrats. During the 2025 off-year elections (in New Jersey and Virginia, for example), successful Democratic candidates elevated the issues of costs and affordability and won significant races in doing so.[23] And House Democratic leadership has previewed that for the upcoming midterms they “plan to hammer home the theme of affordability, including the price spikes caused by the conflict in Iran.”[24] We expect affordability to remain a policy and messaging priority in a Democratic House. That will put major consumer and brick-and-mortar retailers in the spotlight, including any mergers, deals, or other activity that could be viewed as anti-competitive such as “surveillance” pricing. In addition, companies that negotiated deals with the current Administration to avoid the imposition of tariffs or to lessen the tariffs’ impact on their products should be prepared to respond to inquiries about the terms of their agreements and their advocacy with the Administration.

Committees to Watch

A potential Democratic House comes with new committee chairs, committee assignments, and policy priorities. If Democrats control the House in the 120th Congress, we expect a variety of House committees to prioritize oversight. For instance, we would expect the House Oversight and Government Reform Committee and the House Judiciary Committee to lead on many investigations into the current Administration and into companies that have had extensive dealings with the Administration (including with friends and family of senior Administration officials). Both committees have broad jurisdiction, with House Oversight uniquely claiming authority to investigate “any matter” at “any time.”[25] These two committees will not stand alone, however, and many other House committees will be poised to launch their own high-profile investigations with the accompanying public scrutiny that goes hand in hand with congressional oversight.

For example, we expect the House Committee on Education and Workforce to focus heavily on actions the Administration has taken with regard to higher ed, which is likely to pull in colleges, universities, and K-12 schools that have entered agreements or changed their policies to align with the current Administration’s priorities. We expect the committee to pursue information about communications with the current Administration, looking for what they view as pressure to strike deals—for instance, to abandon schools’ DEI policies—out of concern over potential Executive Branch actions.[26]

Companies should also closely monitor the House Energy and Commerce Committee. Its jurisdiction—which the committee describes as “the broadest jurisdiction of any authorizing committee in Congress”—allows it to investigate a wide variety of issues, including consumer protection and affordability issues, pharmaceutical pricing, telecommunications policy, energy production, and environmental compliance.[27] As noted, those issues will be front and center for House Democrats. One of the most senior Democrats currently on the committee already signaled a willingness to use the committee’s subpoena power, stating “we can subpoena [these companies and their documents], and if they won’t do it, they would be in contempt of Congress.”[28]

While the House Financial Services Committee historically has focused more on public hearings than longer-term investigations, we expect the committee to dig in even more in the 120th Congress; regardless, public hearings pose considerable risks. With the dramatic decrease in cryptocurrency-related enforcement[29]—including the Securities and Exchange Commission’s moves to drop several high-profile investigations and active litigation—the diminished role of the Consumer Financial Protection Bureau, the growth of several high-profile politically connected crypto ventures,[30] and a more relaxed regulatory and enforcement environment across banks and financial services companies, the committee could take the mantle in the face of what they view as lax enforcement and in support of Democrats’ positions on crypto legislation.

Companies should also note in early January which House select committees will remain or be replaced. Select committees can come and go as policy priorities shift but can be incredibly powerful and effective. The creation of a new committee signals momentum for investigations (and potentially legislation) in that area. The dissolution of a select committee does not, however, mean focus on a given topic will go away. For example, the House Select Committee on the Chinese Communist Party has received bipartisan support in recent years and has been active across industries and sectors on issues related to China. Even if it does not continue in a Democratic House, the expertise developed—and the expert Members and staff—could resurface to pursue similar investigations under the banner of a different House committee. We note, for example, that the select committee recently announced a joint investigation with the House Homeland Security Committee into “the national security and cybersecurity risks posed by the growing adoption of PRC-developed artificial intelligence models.”[31] We expect more of the same in the next Congress.

Leadership Changes to Monitor

Another development to watch is a potential changing of the guard in a Democratic House with new, more junior Members taking leadership positions along with seasoned veterans. Over the past several years, a new generation of Members has stepped into House Minority leadership and there have been growing calls for these and other Members to assume committee-leadership roles, too. Examples include:

• Representative Robert Garcia (D-CA) is relatively new to the role as Ranking Member on House Oversight, but it has already given him a prime spotlight around congressional investigations this term. As the former Mayor of Long Beach, California, Rep. Garcia has leadership experience that would make him readily able to control a gavel, allowing him to lead oversight investigations into the current Administration’s actions and companies and individuals with ties to the Administration quite effectively. Rep. Garcia has also expressed interest in “look[ing] at” companies that are “not really focusing on affordability.”[32]
  
  
• Representative Jamie Raskin (D-MD) is the Ranking Member on House Judiciary, where he has been at the forefront of Democratic oversight efforts for years and is widely expected to assume the chairmanship if Democrats take the House. Under his leadership, the committee would likely pursue aggressive investigations into Administration policies and actions, as well as alleged “pay-to-play” dealings with companies and other private entities.
  
  
• Representative Alexandria Ocasio-Cortez (D-NY) is one of the most prominent voices in the Democratic caucus and a formidable questioner who currently serves on the House Energy and Commerce Committee. Rep. Ocasio-Cortez is a vocal critic of the current Administration and an advocate for healthcare affordability, corporate accountability, and financial regulation, making her a high-profile member likely to play a prominent role in investigations and hearings across industries. 
• Representative Pramila Jayapal (D-WA) is the Chair of the Congressional Progressive Caucus and sits on the House Judiciary and the House Budget Committee. Rep. Jayapal is a leading voice on antitrust issues and a regular critic of “corporate greed.” The growth of the Progressive Caucus gives Rep. Jayapal significant influence over the policy direction of the Democratic conference. As an active participant in the antitrust investigations of digital markets conducted by the House Judiciary Committee leading up to 2020, she has been open recently about her approach to future antitrust investigations, saying, “I don’t think you can do like 100 [companies] but I think you can do three and start with that.”[33]
  
  
• Representative Dave Min (D-CA) sits on the House Oversight and chairs the Congressional Progressive Caucus’ Anti-Corruption Task Force. Last December, Rep. Min and Sen. Elizabeth Warren (D-MA) led a bicameral investigation into major corporations’ reported donations to President Trump’s ballroom project.[34] More recently, Rep. Min joined Sen. Peter Welch (D-VT) in launching an investigation into pardons and commutations issued by President Trump, seeking information as to “whether financial contributions, lobbyists, intermediaries, or personal connections played a role in securing presidential clemency.”[35]
  
  
• Representative Joe Neguse (D-CO) serves on House Judiciary, the House Rules Committee, and the House Natural Resources Committee. Rep. Neguse is Assistant Democratic Leader and is responsible for providing training programs and constituent messaging advice to Democratic Members. Given his seat on House Judiciary, his leadership role in caucus messaging, and Minority Leader Jeffries’s likely focus on oversight and investigations, Rep. Neguse is primed to advise on the powerful committees’ investigative focus and to effectively communicate investigative actions to the public.

Conclusion

Companies can and should begin preparing now for the possibility of a Democratic House majority in 2027. The historical trend strongly favors the opposition party in midterm elections, and Democrats have been clear about their plan to launch a “tsunami of Congressional oversight” if they regain the majority.[36] With the Executive Branch expected to resist oversight requests, investigators are likely to turn to the private sector in short order before the next presidential election cycle picks up.

Consulting seasoned counsel with bipartisan experience and credibility is prudent for any company anticipating congressional oversight.