Last week, the Democratic Party scored several tremendous victories. Not only did voters re-elect President Barack Obama, but the party also added more members in the U.S. House of Representatives and the Senate.

Although these victories are definitely worth celebrating, Democratic strategists should not end their work here. There are still short- and long-term events that the party must plan for.

The first issue is the fiscal cliff. If Congress doesn’t forge a budgetary plan by the end of the year, $600 billion in taxes will be implemented on all of the tax brackets, and automatic spending cuts will be triggered. During a time of slow growth, big cuts and tax hikes would have a devastating impact on the economy. 

The goal of the Democratic Party with this issue should be to establish a deal with congressional Republicans that closes tax loopholes and allows taxes for those making above $250,000 to revert back to previous levels. After all, as the president said in a post-election speech, “the majority of Americans agree with my approach.” Republicans may potentially ask for spending cuts in return, but spending should only be reduced in non-consequential areas, perhaps through increasing efficiency. By establishing this type of plan, the government will get more revenue and the party’s favorability will most likely grow.

Not only does the Democratic Party need to establish a good deal on the fiscal cliff, but they must think strategically about the 2014 and 2016 elections. For the former, Democrats must place quality challengers up against House Republicans in order to reclaim a majority. For the latter, the Democrats need a strong presidential candidate to take advantage of the next four years to prepare themselves for a run for the White House.

The Democratic Party is notorious for disorganization after reclaiming power. By following these goals, there is a good chance that the Democratic Party will hold on to the power that they have just won.