The Republican Party takes the lead and secures the Senate

BlockBeats news, on November 6, in the U.S. presidential election, the Republican Party first won control of the U.S. Senate, giving the Republicans powerful influence in the high-stakes struggle over taxes and spending, and the final say over executive and judicial nominations for the next president. The prospect of Trump winning the presidential election has led to a sharp dumping in the bond market, with traders speculating that his tax and tariff policies will exacerbate inflationary pressures and keep the federal funds Interest Rate at high levels. Any new tax legislation will require approval from the Republican-controlled Senate, but the power balance on how to handle expiring tax cuts still depends on which party controls the presidency and the U.S. House of Representatives. The Democrats even have a slim majority in the Senate in this election, and because senators serve six-year terms, only one-third of senators are up for reelection in this election. (Jin10)