How do midterm candidates plan to fight inflation? Economists evaluate proposals
Summary
Candidates in the 2026 U.S. midterm elections have proposed tax cuts, regulatory changes, tariff removals and ending the Iran war to address affordability. Economists told ABC News that the war has contributed to higher oil and gasoline prices, but no single proposal is likely to change prices dramatically in the near term.Key Facts
- The article says the Iran war caused a months-long rise in inflation as fuel prices climbed.
- The national average gasoline price was $4.16 per gallon, up $1.18 since the war began in February, according to AAA data.
- Gasoline prices rose more than 9% in September from August and accounted for more than half of that month's overall price increase, government data showed.
- Economists cited damage to oil infrastructure and more costly crude-oil transportation as factors behind higher energy prices.
- Independent Nebraska Senate candidate Dan Osborn and Democratic Sen. Jon Ossoff called for ending the Iran war to reduce costs.
- President Donald Trump said the war was necessary to prevent Iran from obtaining a nuclear weapon and predicted that fuel prices would fall when the conflict ended.
- The article says rising bond yields have pushed up rates for loans such as credit cards and mortgages.
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