Republicans hold narrow majorities in both chambers ahead of the November 3 midterms, creating uncertainty over which measures advance in the lame-duck session beginning after Election Day. Congress adjourned with government funding set to expire December 11 under a continuing resolution, alongside pending action on the National Defense Authorization Act, Farm Bill, FISA reauthorization, and surface transportation programs. Bipartisan momentum has emerged around permitting reform via the Bipartisan American Affordability and Jobs Act text released in late September and the Senate-passed Protect College Sports Act addressing NIL rules. Traders weigh these must-pass items and reconciliation opportunities against potential post-election shifts in House control, which could alter paths for appropriations, energy policy, and targeted authorizations before year-end deadlines.