In the lame-duck session of the 119th Congress, Republican majorities face a compressed calendar before Democrats assume control of both chambers in January 2027 following their midterm gains. Lawmakers must address a Dec. 11 funding deadline to avert a shutdown, alongside the annual National Defense Authorization Act, an overdue farm bill reauthorization, and bipartisan permitting reform aimed at infrastructure projects. Smaller measures on tax extenders, college athletics compensation, and targeted sanctions also remain in play. The short five-week window and shifting political incentives after the election limit prospects for contentious or non-essential legislation, directing trader attention to procedural votes and must-pass packages that historically clear in year-end sessions.