The Federal Briefing, hosted at the Rio Salado College Conference Center, brought together business and community leaders to discuss the 2026 federal outlook and its potential impact on workforce development, healthcare, small businesses and veterans across Arizona.
U.S. Sen. Ruben Gallego addressed the economic pressures facing younger Americans, particularly the challenge of homeownership. “This new generation, this younger generation of Americans, if we don’t really change the course of this country, will be the poorest generation of Americans in the history of this country since the Great Depression,” Gallego said. “Generational wealth does come a lot from housing and right now that basic housing is just not even there.”
Gallego is sponsoring bipartisan legislation with Indiana Republican Sen. Todd Young that would increase the amount first-time homebuyers can withdraw from their retirement accounts to use for down payments. He noted that many young Americans are “retirement rich” but “house poor,” meaning they may have savings invested for the long term but lack the accessible funds needed to purchase a home.
Housing affordability has remained a significant issue in the Valley, where rents and home prices have climbed sharply in recent years. Nationally, the median age of first-time homebuyers has risen to 40, according to the National Association of Realtors, underscoring the financial hurdles younger generations face before entering the housing market.
In addition to housing, Gallego highlighted concerns about rising prescription drug costs and broader affordability challenges affecting Arizona families.
The briefing provided insight into federal priorities for the coming year and how they may shape Arizona’s economic landscape. Arizona’s business community continues to play a critical role in driving growth and ensuring families, entrepreneurs and local communities have a fair opportunity to succeed.
