ORANGE, Calif.—Economists at Chapman University are predicting Republicans will see a midterm gain of 53 seats in the House of Representatives and high gas prices may be the reason.
“There is a relationship between the price of gas and election results,” Chapman University President Emeritus Jim Doti said June 23 at the school’s Economic Forecast Update in Orange, California.
A president’s political party typically loses seats in the House during the midterm elections, Doti said. The only exceptions since 1946 were with former presidents Bill Clinton and George W. Bush. Gas prices were low during both events, he said.
“When you had lower gas prices, those were the two elections where the president’s party actually gained seats,” Doti said….