U.S. Senate Majority Leader Chuck Schumer speaks during a press conference on Capitol Hill in Washington D.C., the United States, Feb. 2, 2021. U.S. Senate Majority Leader Chuck Schumer and Senate Minority Leader Mitch McConnell have reached a power-sharing resolution for running a 50-50 upper chamber, allowing Democrats to take control of powerful Senate committees, local media reported on Tuesday. (Photo by Ting Shen/Xinhua)

WASHINGTON, Feb. 3  -- U.S. Senate Majority Leader Chuck Schumer and Senate Minority Leader Mitch McConnell have reached a power-sharing resolution for running a 50-50 upper chamber, allowing Democrats to take control of powerful Senate committees, local media reported on Tuesday.

Schumer said the Senate will pass the so-called organizing resolution on Wednesday.

"I am happy to report ... that the leadership of both parties have finalized the organizing resolution for the Senate," Schumer announced from the Senate floor.

The resolution is expected to largely mirror a 2001 agreement, the last time the Senate was evenly split, when bills and nominations were sent to the floor even when there were tie votes at the committee level, said a The Hill report.

The so-called organizing resolution comes after weeks of negotiation between the two leaders.