Economy

Word of the year: Affordability

Most of the 24 governors who have given inaugural or State of the State addresses have mentioned the issue.
Arizona Democratic Gov. Katie Hobbs smiles as she arrives to give her State of the State address in the House of Representatives at the Capitol, Monday, Jan. 12, 2026, in Phoenix. (AP Photo/Ross D. Franklin)

Just weeks into new legislative sessions, Merriam-Webster might as well call off its search for the word of the year: Affordability is in.

In the face of rising prices and a volatile stock market, governors and lawmakers across the country are embracing agendas aimed at lowering the costs of living, housing, energy and basic consumer goods. Whether they can deliver on those promises — or at least convince voters their approaches are having an impact — may determine the results of this year’s midterm elections.

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