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Photo: Olivier Douliery/POOL/AFP via Getty Images

Senate Majority Leader Chuck Schumer (D-N.Y.) announced Wednesday that he and Minority Leader Mitch McConnell (R-Ky.) had finalized a power-sharing agreement, breaking a stalemate after weeks of negotiations.

Why it matters: The agreement will allow Senate Democrats to take control of committees, which play a pivotal role in crafting legislation and holding hearings. The Senate will formally pass the organizing resolution later on Wednesday.

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.

Go deeper

Feb 3, 2021 - Politics & Policy

Chamber warns Biden not to submit to progressive wish

Senate Majority Leader Chuck Schumer talks about the Democrats' $1.9 trillion stimulus proposal Tuesday. Photo: Oliver Contreras/Bloomberg via Getty Images

The U.S. Chamber of Commerce is urging the Biden administration not to go around Republicans to pass the president’s $1.9 trillion stimulus package, a move being pushed by the Democrats’ progressive wing.

Why it matters: The historically conservative group fears that if President Biden submits, it could foil any shot at bipartisanship for future legislation, such as highly anticipated plans for infrastructure and climate change bills.

Scoop: Senate resolution to condemn white supremacy

A man carries a Confederate flag outside the U.S. Senate Chamber on Jan. 6. Photo: Saul Loeb/AFP via Getty Images

Democrats in the Senate are looking to officially condemn the acts of Jan 6. by drafting a resolution expressing contempt for violent white supremacists, neo-Nazis, anti-government militias and fringe conspiracy theories.

Why it matters: The resolution is the first official measure to denounce last month's insurrection that resulted in five deaths and the second impeachment of former President Trump. It is unclear if it will receive a vote before his trial, or even be brought to the floor for debate.

McConnell: Marjorie Taylor Greene's "loony lies" are "cancer" for GOP

Photo: Samuel Corum/Getty Images

Senate Minority Leader Mitch McConnell (R-Ky.) on Monday said freshman Rep. Marjorie Taylor Greene's (R-Ga.) controversial comments promoting conspiracy theories and condoning violence against Democrats are "cancer" for the Republican Party.

Why it matters: Greene has been a central focus for House Republicans in recent weeks, including for House Minority Leader Kevin McCarthy (R-Calif.). McConnell is now the highest-ranking Republican to condemn Greene's behavior.