Republicans won control of the US Senate amid a slew of victories by allies of Donald Trump, giving the GOP powerful leverage in high-stakes tax and spending battles and the final say in the next president’s executive and judicial nominations.
-- Republicans won control of the US Senate amid a slew of victories by allies of Donald Trump, giving the GOP powerful leverage in high-stakes tax and spending battles next year.
The announcement of Trump’s presidential victory extended a sharp selloff in the bond market, with traders speculating that his tax-cut and tariff policies would fan inflation pressures and keep interest rates elevated. Rates on the 30-year Treasury rose as much as 24 basis points, the most since 2020.
Democrats went into the election with a slender Senate majority and had to defend far more seats than the GOP in this cycle, including three states won twice by Trump and several more he took in 2016. Only a third of the Senate is up for reelection because members serve six-year terms. The Democratic Senate was crucial to passing Biden’s agenda in the first two years of his administration, including trillions of dollars in stimulus spending and investments in semiconductor manufacturing, infrastructure and his signature climate law.Republicans have said they intend to chip away at Biden’s climate law, roll back regulations on energy production, strengthen the US border with Mexico and extend Trump’s 2017 tax breaks.
Company News Elections White House General Government Industry Legal North America Politics Semiconductors Technology Top News Unites States World Top World
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Republicans Win Control Of The SenateIgor Bobic is a senior HuffPost reporter who covers Congress, the White House, and political campaigns. He can be reached at igor.bobichuffpost.com and is on Twitter igorbobic.
Read more »
Republicans win control of U.S. Senate, make gains in HouseIf they prevail, Republicans would be in a position to dictate the agenda in Washington, helping Trump deliver on his promise to slash taxes and restrict immigration
Read more »
U.S. election: Republicans retake control of Senate, fight to keep HouseBoth chambers of Congress will ultimately determine the legislative agenda for the country and will certify the winner of the presidential race.
Read more »
Election Results: Republicans Gain Control of the SenateWill the GOP gain House seats? Will Democrats keep the Senate?
Read more »
Republicans win Senate majority in 2024 U.S. electionA supporter reacts as results are posted during an election night watch party for Sam Brown, Republican candidate for the U.S. Senate, Tuesday, Nov. 5, 2024, in Las Vegas, Nev. (AP Photo/Ian Maule)
Read more »
Republicans pick up seat in West Virginia in the race toward Senate majorityWASHINGTON (AP) — Republicans picked up a crucial win Tuesday in the race for the Senate majority, as Jim Justice easily notched the West Virginia seat to succeed retiring Sen. Joe Manchin, deadlocking the chamber in a 50-50 split, for now.
Read more »