Democrats won control of both chambers of Congress in the U.S. midterm elections, with voters delivering a sharp rebuke to President Donald Trump’s agenda. Associated Press projections cited in the report showed Democrats with 54 seats in the 100-member Senate, with two races still undecided, and 228 seats in the House—above the 218 needed for a majority.
The party also won several closely contested gubernatorial races, flipping Georgia, Ohio and Iowa, and prevailed in statewide contests in traditionally Republican states including Texas, Kansas and South Carolina. Democrats also held a key battleground seat in Michigan.
From January, at least some Democratic backing will be needed for legislation to pass Congress. Trump will still be able to veto bills, and Democrats do not have a filibuster-proof Senate majority.
House Democratic Leader Hakeem Jeffries said his party would work to deliver the change voters wanted. If elected speaker when the new Congress convenes, he would become the first Black person to hold the position. Republican Speaker Mike Johnson said his party would seek to retake the House in the 2028 election cycle.
Stephen Brown, chief North America economist at Capital Economics, said the result was unlikely to substantially change the near-term policy outlook, given the limits on The Democrats’ Senate majority and the president’s veto power. He added that Democratic Senate seats in traditionally Republican states could create opportunities for broader legislative change if the party wins the next presidential election.
Trump told The New York Times he would accept the results and was open to working with Democrats. He attributed Republican losses to his absence from the ballot. The report noted that he had previously made unspecified accusations of vote rigging and told NBC News he would accept the midterm results only if they were “honest.”
Voters’ concerns included fuel costs, potential government corruption, inflation and the prolonged war with Iran. artificial intelligence was also a significant issue, particularly the prospect of job losses and the expansion of large data centers.
Wall Street futures and Asian shares initially fell during early vote counting as investors assessed the possibility of tighter AI regulation, but later pared their losses. Bank of America analysts said opposition to data centers crossed party lines and could lead to permit restrictions or higher regulatory costs, but did not expect it to derail U.S. technology leadership.
The U.S. dollar weakened and the 10-year Treasury yield edged lower. Lauren Hyslop, an investment manager at Mattioli Woods, said political gridlock can reassure investors by limiting major policy surprises and providing a more stable environment for businesses and markets.
Sources: Investing.com News.