Election Results and Impact
The recent election has come to an end leaving plenty of work ahead for old and new members of the U.S. Congress.
With President Barack Obama winning his reelection, we anticipate that many major rules soon will be published in final form, which is likely to trigger a political reaction on Capitol Hill as Republicans invoke the Congressional Review Act in an effort to block them from becoming law. The U.S. Environmental Protection Agency (EPA), for example, has many major rules on track to become final later this year or early next year, including NAAQS PM 2.5. In addition, dozens of rules required under the Dodd-Frank Act are in the works. Finally, the President’s re-election puts his Administration in a commanding position to finalize numerous rules that solidify the regulatory framework for implementing the Affordable Care Act.
The U.S. Congress remains split with Republicans maintaining their majority in the House and Democrats maintaining their majority in the Senate.
In the Senate, Democrats added to their majority, picking GOP-held seats in Massachusetts and Indiana, giving them a 55-45 majority. Republicans picked up a formerly Democratic seat in Nebraska.
In the House, Republicans now have a 234-199 majority. Democrats missed their goal of adding 25 seats, which would have given them the majority.
In the gubernatorial races, Republicans gained a seat in North Carolina, giving them a 30-19 majority of governors in the U.S.
There is expected to be a large Cabinet turnover beginning in early 2013.
For a more detailed overview, read A Guide to New Members of Congress & Overview of Committees for 2013, prepared exclusively for the American Foundry Society.