Schumer and McConnell finally agree to Senate power-sharing pact as Dems take control of committees: report

In an announcement this Wednesday, Senate Majority Leader Chuck Schumer said that he and Minority Leader Mitch McConnell came to a power sharing agreement, allowing Senate Democrats to take control of committees that will play an important role in crafting legislation and holding hearings, Axios reports.

The agreement comes after a stalemate that lasted for weeks, partly due to McConnell's insistence that Democrats preserve the 60-vote legislative filibuster. According to Axios, McConnell dropped the demand last week after Democrats Joe Manchin and Kyrsten Sinema "privately signaled that they would not support eliminating the threshold in order to pass major progressive priorities."

The Senate is split down the middle between Democrats and Republicans, but Vice President Kamala Harris would serve as the tie-breaker on a floor vote.

Read more at Axios.