As Washington gears up for the 2026 midterm elections, "affordability" has become one of the most frequently used words in American politics. But while candidates across the political spectrum promise to lower costs, members of the bipartisan House Problem Solvers Caucus argue that solving the affordability crisis will require more than campaign slogans—it will require tackling the structural forces that have made it increasingly difficult for middle-class families to get ahead.
That was the message delivered during a recent discussion at the Cato Institute moderated by Ryan Bourne,, the R. Evan Scharf Chair for the Public Understanding of Economics. Joining him were the caucus's two co-chairs—Rep. Brian Fitzpatrick (R-Pa.) and Rep. Tom Suozzi (D-N.Y.)—who outlined a policy agenda that seeks common ground on issues ranging from housing and energy to immigration and the federal deficit.
Fitzpatrick framed affordability not simply as rising prices but as the everyday challenge families face trying to make ends meet.
"Half the country, perhaps more, live paycheck to paycheck," he said. "They're sitting down at the kitchen table every week… figuring out how to make their budgets work."
He argued that affordability has three principal drivers: the cost of goods, the effects of supply and demand, and interest rates. But he pointed to an even deeper divide separating Americans who are building wealth from those struggling to stay afloat.
"The most important component," Fitzpatrick said, "is what side of the ledger are you on in terms of compound interest. Is compound interest working for you… or is it working against you because you have credit card debt or other debt?"
For Suozzi, affordability begins with confronting one of Washington's most persistent problems: chronic federal deficits. While budget debates often seem abstract to voters, he argued that the consequences are anything but.
"We need to do a better job educating the public that deficits… are affecting your life," Suozzi said. Large deficits, he noted, put upward pressure on interest rates, making mortgages, auto loans and small-business borrowing more expensive. To address the problem, both lawmakers endorsed creating a bipartisan fiscal commission to recommend long-term solutions to the nation's debt and deficit challenges.
The conversation also touched on the structural barriers that keep everyday costs high.
Housing was a central focus. Fitzpatrick highlighted provisions in recently enacted housing legislation that streamline the approval process for builders, particularly by allowing pre-approved housing plans that can be reused rather than repeatedly navigating local approvals.
"It sounds like a minor detail," he said, but it is "going to have a sea change effect… on lowering or at least trying to contain the cost of housing."
Suozzi argued that local governments should be encouraged—not compelled—to allow greater housing density around downtowns and transit corridors while preserving the character of existing neighborhoods.
Energy affordability emerged as another area where bipartisan cooperation may be within reach. Both lawmakers called for significant permitting reform to speed construction of new energy infrastructure.
"We have to make it easier to build things," Suozzi said, arguing that the country's rapidly growing electricity demand—driven in part by new data centers—requires expanding energy supply across multiple technologies.
Fitzpatrick noted that permitting reform has evolved from a partisan issue into one with support across the political spectrum because both fossil fuel projects and renewable energy developments now face similar regulatory delays.
The lawmakers also linked affordability to immigration policy. Fitzpatrick argued that expanding legal pathways for workers while securing the border would help ease labor shortages in industries such as construction, agriculture and health care—all sectors where workforce shortages contribute to higher prices.
Underlying the entire discussion was a shared recognition that many Americans feel left behind despite broader economic growth.
"The status quo is not working for a lot of Americans," Suozzi said. "We have to fix this hollowing out of the middle class. But tearing the whole thing down is not going to work either."
Asked how he would define success, Fitzpatrick said policy changes must restore the expectation that "if you work hard and play by the rules," you can afford a home, educate your children, pay for health care and retire with security.