Democratic U.S. Sen. Robert Menendez's indictment on corruption charges on Wednesday raised the possibility of Republicans gaining a 55th Senate seat to strengthen their hand in policy fights with President Barack Obama.

Federal prosecutors indicted the New Jersey senator on charges of accepting gifts from a donor and friend, Florida-based opthalmologist Salomon Melgen, in exchange for using the power of his Senate office to benefit Melgen's personal and financial interests. Melgen was also charged.

Menendez, 61, a senior member of Senate foreign policy, banking and finance committees, had said previously he had done nothing wrong and had no plans to leave his seat. He has described his relationship with Melgen as a close friendship.