Democrats promise subpoenas for Trump's business dealings, and Jeffries won't rule out a third impeachment

One day after voters handed Democrats control of Congress, the party's senior members in both chambers are saying publicly what they plan to do with it: use subpoena power and larger investigative staffs to examine the finances of President Donald Trump, his family and people close to his administration. That is the account in a report by The Associated Press. The Republican president and his White House have long denied any wrongdoing, AP notes.

Who is leading what

According to AP, House Democratic leader Hakeem Jeffries, in line to become speaker, "has not ruled out" a third impeachment of Trump. Months ago he assigned Rep. Robert Garcia of California (top Democrat on Oversight) and Rep. Jamie Raskin of Maryland (Judiciary) to lead the effort. Garcia has outlined five priorities, including Trump family business dealings, the administration's handling of the Jeffrey Epstein investigation and Immigration and Customs Enforcement operations. On election night he posted "Lawyer up" on X.

In the Senate, Sen. Richard Blumenthal of Connecticut, expected to chair the Permanent Subcommittee on Investigations, told AP his panel wants to look at Trump real estate projects around Washington and crypto dealings involving special envoy Steve Witkoff, who partnered with Trump on the family's World Liberty Financial venture. "The tentacles of corruption reach deep in this administration," Blumenthal said. He also wants hearings on ICE raids and the Department of Government Efficiency.

Sen. Ron Wyden of Oregon, in line to chair the Finance Committee, named banks that he says ignored red flags about Epstein's finances and drugmakers with ties to the administration. Chuck Schumer, poised to return as Senate majority leader, framed it around prices: "No American should have to make tradeoffs at the supermarket while Trump is making inside trades on the stock market."

Why Democrats lead with corruption

AP's voter poll, which surveyed more than 100,000 voters, found roughly four in ten naming the economy as the top issue and about three in ten naming "the state of democracy." About half said government corruption was "crucial" to their vote for Congress, and most of those voters backed the Democrat in their House race, with about a third backing the Republican. Democrats are trying to tie the two themes together, linking the cost of corruption to affordability.

What it means for business

This is a schedule, not a result. Committee chairs take over in January, subpoenas take time, and nothing here has been filed or announced as a formal investigation beyond what leaders have said. Three business-facing threads are worth tracking:

• Banks. Wyden's target list includes banks and Epstein. CNBC reported Thursday that Senate Democratic staffers plan to examine JPMorgan's handling of Epstein; see our separate report.
• Crypto. Blumenthal's interest in World Liberty Financial puts a Trump-family crypto business in a Senate investigator's sights. Our earlier coverage of how the market took the result is here.
• Drugmakers. Wyden named pharmaceutical companies with ties to the administration, which means Finance Committee letters and hearings aimed at specific firms are plausible.

For a business owner outside those industries, the practical effect is indirect: hearings and a fight with the White House can move markets and slow legislation. We covered how stocks and oil reacted to the election itself.

Sources: The Associated Press (Nov. 5, 2026); CNBC (Nov. 5, 2026). Quotes are attributed to the officials named in those reports. This is news reporting, not political advocacy or investment advice.