This is from Reuters, by way of Yahoo!. I note Phil Gramm is head of the Senate Banking Committee. Someone on PBS once commented, "There are two things you gotta know about Phil Gramm. One, he's smarter than you. And two, he's meaner than a junkyard dog." :)

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Wednesday January 3 3:21 AM ET
Divided 107th Congress Convenes Wednesday

By Thomas Ferraro

WASHINGTON (Reuters) - The sharply divided 107th Congress convenes on Wednesday -- certain to write history but uncertain if it will be able to agree to write much new law.

Hillary Rodham Clinton will take center stage shortly after the gavel falls at noon EST when she becomes the first first lady to be sworn in as an elected official -- a Democratic senator from New York.

Though both sides have preached bipartisanship, it remains to be seen how often Democrats and Republicans will be able to come together on the nation's business -- particularly in the aftermath of the bruising 2000 elections.

For the first time since 1881, the Senate will be equally split between Democrats and Republicans -- 50 each.

And for the first time since the 1920s, Republicans will be in charge of the U.S. House of Representatives for a fourth straight Congress, even if narrowly -- 221-211.

Lawmakers will spend most of the opening week organizing the new Congress, beginning with the House on Wednesday re-electing Republican Dennis Hastert of Illinois as speaker.

House Republicans will also choose new chairmen for a number of key committees, including the tax-writing House Ways and Means Committee, which will have first crack at President-elect
George W. Bush's $1.3 trillion tax cut plan.

In addition to tax relief, Bush hopes to make top priorities in Congress legislation to upgrade the nation's schools and improve the country's energy supply.

Democrats are certain to again push measures to expand health care.

And both sides, in the wake of the disclosure of widespread voting problems in the November presidential election may seek electoral reforms.

Early Test For Bush

With so many battle lines, the 107th Congress will be an early test of Bush's claim to be ``a uniter, not a divider.''

Senate Republicans hope to move swiftly on Bush's proposed Cabinet.

Toward that end, Senate Judiciary Committee Chairman Orrin Hatch, a Utah Republican, is meeting on Wednesday with Bush's conservative choice for U.S. attorney general, outgoing Sen.
John Ashcroft of Missouri.

In addition, Sen. Chuck Grassley, an Iowa Republican expected to become the next Senate Finance Committee chairman, arranged to confer with Treasury Secretary-nominee Paul O'Neill.

The first Senate confirmation hearing is set to begin on Thursday, when Don Evans, who helped Bush raise a record $100 million plus for his presidential campaign, appears before the Senate Commerce Committee as the commerce secretary nominee.

Evans was to meet on Wednesday with Sen. Bill Frist of Tennessee, a member of the committee.

Although there have been plenty of predictions of partisan squabbles, House Democratic leader Richard Gephardt of Missouri said he expects to see more bipartisanship and less of the political rancor that marked the last Congress.

``I've had a couple of meetings with the speaker and we had good meetings and we are working on a better relationship,'' Gephardt said on Tuesday.

``My hope is that on a full range of issues, we can have bipartisan votes,'' he said. ``We had a lot of bipartisan votes in the last few years, we just couldn't get things done. My hope is that we can do better on campaign reform, education and health care.''

Senate Republican leader Trent Lott of Mississippi and Democratic leader Tom Daschle of South Dakota met to discuss organizational issues, including the make up of Senate committees.

Democrats feel committees should reflect the 50-50 split of the full Senate. Republicans say they should have one more member on committees since they will hold the majority after Bush takes office on Jan. 20. Vice President-elect Dick Cheney, as president of the Senate, will hold the tie-breaking vote.

``I'm not for power sharing,'' said Senate Banking Committee Chairman Phil Gramm, a Texas Republican.

Democrats actually will control the Senate for 17 days because Democrat Al Gore, who won the popular vote for president but lost in the Electoral College after a legal fight over Florida's votes, will remain vice president until Cheney is sworn in.

Daschle will be the majority leader during that period, but legislation is not expected to come before the body.

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