Schumer, McConnell reach power-sharing agreement in 50-50 Senate

Between the lines: Negotiations over the organizing resolution had been stalled for weeks, in part because McConnell wanted to include language that would commit Democrats to preserving the legislative filibuster.

• McConnell dropped the demand last week after centrist Democrats Joe Manchin (W.Va.) and Kyrsten Sinema (Ariz.) privately signaled that they would not support eliminating the 60-vote threshold in order to pass major legislation, which progressives have pushed for.
• While the Senate is technically split 50-50 between Democrats and Republicans, Vice President Kamala Harris would serve as the tie-breaker in a floor vote.

What to watch: Schumer said on the Senate floor that he had instructed incoming Democratic chairs of "all relevant committees" to begin holding hearings on the climate crisis, which will be a priority in President Biden's "Build Back Better" agenda.