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Republican control of Congress may boost nuclear power and give banks eased enforcement of consumer laws, though its unlikely to yield a rollback of Obamacare over objections of a veto-wielding president.

Oil pipeline builder TransCanada Corp. (TRP) may find a way to advance the Keystone XL pipeline and communications companies such as AT&T Inc. (T) could see progress toward updating a legal framework that predates widespread Internet use.

Success on these and other items backed by U.S. business will come only from negotiations between President Barack Obama and top leaders of the House and Senate, who in January will be Republican.

Legislative impact on business will depend on the willingness of Senate Republican leaders to negotiate with the president, said William Galston, a senior fellow of governance studies at the Brookings Institution in Washington.

The end of a divided Congress wont open the gate for every Republican-backed bill to become law. Senate Democrats retain the power to slow bills and Obama keeps the veto pen hes used twice.

Republicans also could wield powers from the Congressional Review Act, which lets lawmakers vote to disapprove major rules before implementation. A simple majority is required, though Democrat Obama could veto any resolution.

A worker walks through the TransCanada Corp. pipe yard in Mont Belvieu, Texas, U.S. While Congress may approve legislation to approve Keystone XL pipeline, Republicans probably wont have the votes to overcome a presidential veto. Close

A worker walks through the TransCanada Corp. pipe yard in Mont Belvieu, Texas, U.S.... Read More

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A worker walks through the TransCanada Corp. pipe yard in Mont Belvieu, Texas, U.S. While Congress may approve legislation to approve Keystone XL pipeline, Republicans probably wont have the votes to overcome a presidential veto.

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Nuclear Power, Banks Seen Gaining in Republican Congress