After Democrat Raphael Warnock was projected to win the U.S. Senate run-off in Georgia on Tuesday night, major networks have declared Democratic candidate Jon Ossoff as the winner in the second statewide poll.
This win leaves the Senate split evenly along party lines with incoming Vice President Kamala Harris set to cast the deciding vote. This will give the Democratic party control over both houses of Congress, as well as the White House, as of inauguration day on January 20th.
Democratic leads in Georgia ahead of the call resulted in rallies in value stocks and small-cap businesses on stock markets. According to the Financial Times there is a broad consensus among investors that Democratic control of congress will result in a more comprehensive stimulus package, wider infrastructure spending, and speedier economic growth.
With this win, other Democratic priorities such as a promise to raise the minimum wage are also on the table.
Warnock will be the first Black Senator elected from Georgia. Ossoff will be the first Jewish Senator elected from the state.