The election took place during Republican President Warren G. Harding's term.
The Republican Party lost seats in both chambers of Congress, but retained their majority in the House and Senate.
In the House, the Republicans lost seventy-seven seats to the Democratic Party.
The Republicans also lost seven seats in the U.S. Senate, six to the Democrats and one to the Minnesota Farmer–Labor Party.
The election was a victory for Harding's progressive opponents in the Republican Party, and helped lead to the Teapot Dome investigations and Robert M. La Follette's 1924 third party candidacy.