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Photo: Stefani Reynolds/Getty Images

The Senate Democratic caucus re-elected Minority Leader Chuck Schumer (D-N.Y.) and added Sens. Cory Booker (D-N.J.) and Catherine Cortez Masto (D-Nev.) to its leadership ranks, a Senate Democratic source tells Axios.

Why it matters: The re-election of the full Senate Democratic leadership team comes after a relatively disappointing general election in which the party failed to win outright control of the Senate, despite record amounts of fundraising. Democrats still have a chance to become the Senate majority if they win a pair of Georgia runoffs in January.

Full Democratic leadership:

  • Leader: Sen. Chuck Schumer (N.Y.)
  • Whip: Sen. Dick Durbin (Ill.)
  • Assistant Leader: Sen. Patty Murray (Wash.)
  • Chair of Democratic Policy and Communications Committee: Sen. Debbie Stabenow (Mich.)
  • Vice Chair of Conference: Sen. Elizabeth Warren (Mass.)
  • Vice Chair of Conference: Sen. Mark Warner (Va.)
  • Chair of Steering Committee: Sen. Amy Klobuchar (Minn.)
  • Chair of Outreach: Sen. Bernie Sanders (Vt.)
  • Vice Chair of DPCC: Sen. Joe Manchin (W.Va.)
  • Secretary: Sen. Tammy Baldwin (Wis.)
  • Vice Chair of DPCC: Sen. Cory Booker (N.J.)
  • Vice Chair of Outreach: Sen. Catherine Cortez Masto (Nev.)

The other side: Senate Majority Leader Mitch McConnell was unanimously re-elected by his GOP colleagues on Tuesday, Senate GOP leadership sources tells Axios. Sen. Rick Scott (Fla.) replaced Sen. Todd Young (Ind.) as chair of the Senate GOP's campaign arm.

Republican leadership:

  • Leader: Sen. Mitch McConnell (Ky.)
  • Whip: Sen. John Thune (S.D.)
  • Chair of Republican Conference: Sen. John Barrasso (Wyo.)
  • Chair of Republican Policy Committee: Sen. Roy Blunt (Mo.)
  • Vice Chair of Republican Conference: Sen. Joni Ernst (Iowa)
  • Chair of Republican Senatorial Committee: Sen. Rick Scott (Fla.)

What to watch: Decisions on committee leaders and House leadership elections will be held at a later date.

Go deeper

Biden to nominate Janet Yellen as Treasury secretary

Photo: Photo by Alex Wong/Getty Images

President-elect Joe Biden is preparing to nominate former Fed Chair Janet Yellen as his Treasury Secretary, four people familiar with the matter tell Axios.

Why it matters: Yellen, 74, will bring instant economic celebrity to Biden’s team and, if confirmed, she will not only be the first female Treasury Secretary but also the first person to have held all three economic power positions in the federal government: the chair of Council of Economic Advisers, the chair of Federal Reserve and the Treasury Secretary.

Updated 28 mins ago - Politics & Policy

Sen. Kelly Loeffler to return to campaign trail after 2nd negative test

Sen. Kelly Loeffler addresses supporters during a rally on Thursday. Photo: Jessica McGowan/Getty Images

Sen. Kelly Loeffler's (R-Ga.) campaign announced Monday that she "looks forward to getting back out on the campaign trail" after testing negative for COVID-19 for a second time, following earlier conflicting results.

Why it matters: Loeffler has been campaigning at events ahead of a Jan. 5 runoff in elections that'll decide which party holds the Senate majority. Vice President Mike Pence was with her on Friday.

Updated 5 hours ago - Politics & Policy

Key government agency says Biden transition can formally begin

General Services Administrator Emily Murphy. Photo: Alex Edelman/CNP/Getty Images

General Services Administrator Emily Murphy said in a letter to President-elect Joe Biden on Monday that she has determined the transition from the Trump administration can formally begin.

Why it matters: Murphy, a Trump appointee, had come under fire for delaying the so-called "ascertainment" and withholding the funds and information needed for the transition to begin while Trump's legal challenges played out.