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Most pre-election polls have found so many close races that the battle for control of the Senate and House of Representatives has been too close to call. Possible scenarios include no change—with Democrats retaining narrow control of the Senate and Republicans hanging on to narrow control of the House—to either Republicans or Democrats winning both chambers. Some political observers have even forecast the possibility that the election results would not be final for days or weeks, with recounts, court challenges, and a possible run—off in one state.

Whatever the outcome, it will have a profound effect on important policy issues over the next two years, including the budget and taxes, help for the elderly and other needy populations, creation of a Cabinet-level homeland security department, extension of welfare reform, war and peace, and many other issues.

The outcome of Tuesday's election also will have an impact on President Bush's chances for reelection in 2004 and on the selection of his Democratic opponent in that election.

A panel of Brookings experts will analyze and discuss Tuesday's election results—who won and why, as well as the effect on governing in the next two years and beyond. The panelists will also respond to questions and comments from the audience.