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Saturday, January 28, 2023

US Midterm Elections: Republicans Are Expected To Capture the U.S. House

Republicans might potentially start a fight over the nation's debt ceiling, which would jolt the stock market

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UNITED STATES: Based on early results from Tuesday’s midterm elections, Republicans were expected to oust President Joe Biden’s Democrats from the U.S. House of Representatives, while the chances of a “red wave” appeared to have diminished.

In the U.S. House, Republicans had switched five Democratic seats as of the close of voting in the majority of the nation, according to Edison Research. This was exactly the number required to win a majority and thwart Biden’s legislative program.

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However, that figure is subject to change as close to 200 of the 435 House seats, including those with Republican incumbents who were in danger of losing, had not yet been declared.

Given Biden’s declining support rating and voters’ resentment over inflation, early data suggested Democrats might avoid the kind of wipeout election that some in the party had expected.

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However, even a slim Republican majority in the House would be able to obstruct Biden’s agenda while starting politically damaging inquiries into his family and administration.

With crucial contests in Pennsylvania, Nevada, Georgia, and Arizona all looking to be toss-ups, the U.S. Senate campaign remained too close to call. The Georgia election might go to a runoff on December 6, with the Senate potentially on the line.

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The 100-seat Senate is now controlled by Democrats, and vice president Kamala Harris has the power to break any 50-50 ties.

Along with every House seat, there are 35 Senate seats and thirty-two governorships up for election. Edison predicted that Florida Governor Ron DeSantis, who may run for the Republican presidential nomination in 2024, will defeat Democratic Representative Charlie Crist.

Republican control of the Senate would have authority over Biden’s judicial selections, including any vacancies on the Supreme Court. While Republican control of the House would be able to stymie Democratic issues like abortion rights and climate change.

Republicans might potentially start a fight over the nation’s debt ceiling, which would jolt the stock market.

If Republicans take back control of Congress, they will have the authority to veto funding for Ukraine. However, analysts predict that they will instead slow or reduce the flow of economic and defense help.

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