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Your 401(k) Is the Next Midterm Battleground for Republicans

  • Republicans use market declines to reinforce midterm messaging
  • Issues just beginning to resonate with voters, strategists say
Senate Minority Leader Mitch McConnell

Senate Minority Leader Mitch McConnell

Photographer: Samuel Corum/Bloomberg

Republicans are opening a new line of attack on President Joe Biden and congressional Democrats as US stocks head for their worst year since 2008, sapping Americans’ retirement accounts in the run-up to the midterm elections.

Dropping balances in 401(k)s and IRAs have only just begun to surface as a concern among swing voters in focus groups, though usually as one complaint in a litany of grievances over the economy, still mostly driven by frustration over consumer prices, several Republican strategists said.