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With a split government, should Americans expect higher taxes?
Midterm elections: Biden skeptical of Democrats holding the House
Fox News congressional correspondent Chad Pergram has the latest on the balance of power following the midterm elections on ‘Fox Business Tonight.’
The 2022 midterm elections split control of Congress, with Republicans winning a majority in the House and Democrats holding the Senate. Now, many Americans wonder how this new government will affect their bottom line regarding taxes.
Previously, many lawmakers expected the Nov. 8 elections to deliver a "red wave" that would flip the House and Senate. A total Republican victory would have crippled President Joe Biden's legislative agenda for the next two years, especially as his approval ratings remain low.
Prior to the election, leading House Republican members, including Kevin McCarthy, vowed to open investigations into Hunter Biden's business dealings, examine the origins of the COVID-19 pandemic, and subpoena officials in charge of Biden's withdrawal from Afghanistan. These actions may still occur; however, Republicans now take office with a fragile majority and little or no mandate.
Biden indicated that he expects Republicans to work with his administration over key issues after Democrats remained in control of at least one chamber of Congress, telling the press, "The American people have made clear, I think, that they expect Republicans to be prepared to work with me as well."
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