Democrats will control both chambers of Congress from January, according to race calls by The Associated Press. That ends two years in which Republicans held the House, the Senate and the White House at once. For businesses and investors, the result trades one set of questions for another. Sweeping tax and tariff legislation becomes less likely. What remains are the bills that must pass, and the first of them is due in 37 days.

As of 12:39 p.m. Eastern time on Wednesday, NBC News had called 236 House races for Democrats and 146 for Republicans, with 53 still to be called, a net Democratic gain of 31 seats so far. A majority is 218. AP called the House for Democrats early on Wednesday, after calling the Senate late on Tuesday, NPR reported from its tally of AP calls.

In the Senate, Democrats and the two independents who caucus with them had won 54 seats to the Republicans' 44 by Wednesday morning, Forbes reported. The races in Alaska and Mississippi were too close to call. Democrats took seven seats from Republicans, in North Carolina, South Carolina, Ohio, Texas, Kansas, Iowa and Maine, according to NPR. Before the vote, Republicans held 53 seats.