Trump holds a rally in Dubuque, Iowa, two days before the legislative elections and asks for a vote for the Senate

President Donald Trump spoke at the Five Flags Center in Dubuque, Iowa, on Sunday (November 1), two days before the midterm elections, and called for votes for Republican Senate candidate Ashley Hinson and gubernatorial candidate Zack Lane. The broadcast is from Fox Business.

Trump claimed to have traveled the country in the last 32 days and held 29 rallies, with the aim, in his words, of preventing opponents from taking over Congress. According to the president, a margin of just a few votes weighs a lot: whoever has the majority, he said, dominates the political agenda. He indicated that he would then head to a rally in Kansas.

What's at stake in the Senate

Hinson, who is now a federal deputy, said the dispute in Iowa could define who controls the House. If Democrats win the state, he argued, Minority Leader Chuck Schumer would command the Senate. She said Schumer spent more than $40 million to elect his opponent, Democrat Josh Turk.

In the platform he presented, Hinson promised that the Republican majority will not raise taxes and accused his rival of defending what he called mass amnesty for illegal immigrants. These are accusations made by the candidate, made during the campaign, and were not independently verified during the broadcast.

Trump also said that Iowa will continue to open the presidential primary election calendar if the Republicans win. He also stated that he had announced, with the help of local parliamentarians, the construction of the largest steel plant in the United States in the state, without giving investment details or deadlines.

Fiscal argument and the dispute for government

A speaker who preceded the candidates, and who the transcript does not clearly identify, compared the fiscal management of governors from each party in the state. According to him, Democrats left a hole of around $1 billion in the budget and spent stimulus resources as if they were recurring revenue. In 16 years of Republican governors, he said, there have been tax cuts, balanced budgets every year and a $5.5 billion reserve for emergencies. The numbers are from the speaker's speech and have not been checked.

Lane, who said he won the June 2 primary despite being outspent in campaign spending, focused his speech on cultural issues, education and immigration. He stated that his opponent, Rob Sand, and Turk himself present themselves as moderates, and said that the state will be an obstacle to an eventual national blue wave.

What does this mean for the investor

The speech was essentially political and did not directly address the stock market, interest rates, dollar or Nasdaq. For the market, the point of attention is the result of Tuesday (November 3): control of the Senate and Congress influences the tax agenda, public spending and trade policy in the United States in the coming years.

The Republican emphasis on tax cuts and budget discipline, both in talk about the state budget and in Hinson's promise, indicates the tone the party intends to take to the fiscal debate in Washington. The response from the polls is what will say whether this path will have legislative support.

Automatically translated from Portuguese.