**In the 119th Congress's second session, legislative outcomes in 2026 hinge on Senate procedures requiring 60 votes to overcome filibusters on most measures, alongside reconciliation for budget-related items and a lame-duck period after the November midterms.** Bipartisan progress includes the Senate's 85-5 passage of the 21st Century ROAD to Housing Act in early October, now advancing to the House with presidential support expected. Senate negotiators agreed in late September on the Bipartisan American Affordability and Jobs Act text for major NEPA and permitting reforms, though Democratic support and administration input remain hurdles. A continuing resolution funds the government through December 11, shifting focus to full FY2027 appropriations and other priorities like election security and defense authorization, which face gridlock. Smaller measures continue to clear via unanimous consent or suspension, contributing to the session's roughly 120 enacted laws so far, below historical averages. Traders monitor these catalysts, including any post-election momentum or procedural maneuvers, for resolution by year-end.