US President Joe Biden has described Tuesday's midterm elections as a "good day for democracy."

Biden told reporters at the White House on Wednesday, "Our democracy has been tested in recent years, but with their votes, the American people have spoken and proven once again that democracy is who we are."

He added, "I am prepared to work with my Republican colleagues. The American people have made clear they expect Republicans to be prepared to work with me."

Asked whether he plans to seek reelection in 2024, Biden said he intends to run again, but "this is ultimately a family decision." He said he believes it will be early next year before he makes a final call.