Republicans Poised to Take Majority in House After Senate Victory in the U.S.

Forex - As the results of the presidential and Senate sections of the elections held in the U.S. on November 5 are coming in, vote counting continues for the House of Representatives, where all members are up for reelection. However, late last night’s results indicate that the Republican Party is close to securing a majority in the House of Representatives, following their success in the Senate.

According to data provided by the Associated Press and Edison Research, Republicans have so far secured 216 seats, while Democrats have claimed 207 seats. There are still 12 seats remaining to be counted.

A total of 218 seats is needed to achieve a majority, meaning Republicans need just two more seats to reach that threshold. Historically, the majority party has only been ahead by a margin of 10 seats or fewer in six congresses over the past century.

Additionally, two members of the House of Representatives elected from the Republican Party are already preparing to serve in the Trump administration, which will limit the leverage of Republicans in the House. Even if House Republicans foresee a softer and more united journey with only a handful of defections on any piece of legislation, significant resistance is expected from Democrats uniting against Trump’s agenda. Issues ranging from spending cuts to raising the debt ceiling and removing the $10,000 cap on state and local tax deductions could put the majority in a difficult position.

House Speaker Mike Johnson stated at a press conference that Republicans are "ready to fulfill America's duties in the next Congress" and emphasized that they would not repeat the slow start that harmed the GOP in 2017 when they last had control of the House of Representatives, Senate, and the presidency. “We will not make those mistakes again,” he said.