Capital Snapshot: A Monthly Overview of the Issues, Events, and Timelines Driving Federal Policy Decisions

Our Legislative & Public Policy team is pleased to provide the February 2026 edition of Capital Snapshot, which includes a monthly summary of the issues, events, and timelines driving federal policy and political decisions. This month’s edition contains a review of the landscape of the 119th Congress, including upcoming congressional schedules and key dates, and recently announced retirements, resignations, vacancies, and candidacies. We also share updates pertaining to the FY 2026 and FY 2027 federal funding and appropriations processes, as well as trade and tariffs. Furthermore, we share some salient legislative and policy updates across a variety of additional key policy areas, including: (1) defense/the National Defense Authorization Act; (2) tax; (3) financial services; (4) artificial intelligence; (5) technology; (6) data privacy; (7) health care; (8) education; and (9) energy and environment. Additionally, we provide an overview and outlook of the upcoming 2026 midterm elections in November, as well as an update to our detailed rundown of various redistricting efforts across the country ahead of the midterms. Our team also takes a look at current public opinion polling on President Trump’s job performance and policy priorities, and assesses economic factors and conditions that could impact the future political landscape in an election year.

© Arnold & Porter Kaye Scholer LLP 2026 All Rights Reserved. This Advisory is intended to be a general summary of the law and does not constitute legal advice. You should consult with counsel to determine applicable legal requirements in a specific fact situation.