President Trump used his February 24 State of the Union (SOTU) speech to lay out his view of his accomplishments in 2025. There was little in the way of his vision for 2026.
The President did mention two issues of at least some interest. He called for a new retirement savings program for people whose employers do not offer a retirement plan. (He also touted his new Trump Accounts for Children program.) And he called for reforms to lower health insurance and health care costs. He specified that Congress should codify his "most favored nation" drug pricing agreements with various pharmaceutical companies.
The almost two-hour speech drew predictable partisan reaction. Republicans largely praised it while Democrats were critical.
Prospects; The President's failure to lay out a 2026 agenda in his SOTU speech has left Congressional Republicans believing that they can set the legislative agenda for the coming year. Expect an effort—that, given paper thin majorities, may not succeed—to do another all-GOP reconciliation bill with health reform (Association Health Plans, short term limited duration health insurance) likely to be part of it.
NAIFA Staff Contacts: Diane Boyle – Senior Vice President – Government Relations, at dboyle@naifa.org; Mike Hedge – Senior Director – Government Relations, at mhedge@naifa.org; or Jayne Fitzgerald – Director – Government Relations, at jfitzgerald@naifa.org.