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Tag: Domestic Politics

  • Louisiana Rep. Mike Johnson nominated for speaker by House Republicans

    Louisiana Rep. Mike Johnson nominated for speaker by House Republicans

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    House Republicans on Tuesday night voted for Rep. Mike Johnson to become their latest nominee for speaker of the U.S. House of Representatives, with the Louisiana congressman’s selection capping a tumultuous day in which Rep. Tom Emmer was briefly the nominee.

    Johnson, vice chair of the House Republican Conference, picked up support in two rounds of voting and drew a majority votes in a third ballot, topping the number of votes cast for Rep. Byron Donalds of Florida. That’s according to posts on social media by Rep. Elise Stefanik of New York, who as chair of the conference is the No. 4 House Republican.

    The GOP-run House wasn’t due to hold a floor vote on the speaker position on Tuesday night, but the chamber could do that Wednesday.

    Analysts have been warning that the long process of picking a new speaker is preventing the Republican-run House from addressing crucial matters, such as supporting Israel and passing a budget to avoid a government shutdown next month that could rattle markets
    SPX.

    It has been three weeks since the historic ouster of former Speaker Kevin McCarthy, a California Republican.

    The selection of Johnson marks the the fourth time that House GOP lawmakers have picked a speaker nominee this month. Emmer of Minnesota, the No. 3 House Republican, was nominated around mid-day Tuesday, beating out Johnson, but bowed out about four hours later after some colleagues and former President Donald Trump refused to support him.

    Rep. Jim Jordan of Ohio secured the nomination on Oct. 13, but was dropped as the nominee last Friday as GOP opposition to him grew over three rounds of voting on the House floor. House Majority Leader Steve Scalise, a Louisiana Republican, was tapped for the post on Oct. 11 but ended his speaker bid a day later due to opposition from fellow Republicans.

    McCarthy on Tuesday floated a plan that would reinstall him as speaker and set up Jordan as the assistant speaker, according to an NBC News report citing unnamed sources.

    In the third ballot on Tuesday night, Johnson scored 128 votes, Donalds got 29 votes, and 44 lawmakers backed people who weren’t on the ballot, according to multiple published reports. Most of those Republicans supported McCarthy, while one supported Jordan.

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  • Jim Jordan dropped as speaker nominee by House Republicans, who plan for new pick next week

    Jim Jordan dropped as speaker nominee by House Republicans, who plan for new pick next week

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    House Republicans voted Friday in a secret ballot against keeping Rep. Jim Jordan as their nominee for speaker, and they planned to determine a new nominee next week.

    The Ohio congressman had been facing resistance in his bid to become speaker, with the number of fellow Republicans voting against him rising to 25 in a third round of voting Friday on the House floor, up from 22 in a prior ballot. 

    House GOP lawmakers were expected to meet Monday evening for a new forum for speaker candidates. Rep. Kevin Hern of Oklahoma said in a post on X that he was running for the job, and Rep. Jack Bergman of Michigan has indicated he’ll seek the post as well.

    The GOP opposition to Jordan stemmed from a range of concerns, including that his speakership could lead to cuts in defense
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    spending, as well as the view that he didn’t provide enough support for the speaker bid of House Majority Leader Steve Scalise, a Louisiana Republican. Jordan’s Republican opponents also said they’ve faced death threats for their stance, with Rep. Drew Ferguson of Georgia saying Thursday that the House GOP “does not need a bully as the Speaker.”

    Analysts have been warning that the process of picking a new speaker is preventing the Republican-run House from addressing crucial matters, such as supporting Israel and passing a budget to avoid a government shutdown next month that could rattle markets. It has been 17 days since the historic ouster of former Speaker Kevin McCarthy, a California Republican.

    Related: Israel, Ukraine aid could run up against House dysfunction, making for ‘tragedy,’ analyst says

    And see: Biden seeks $14 billion for Israel, $61 billion for Ukraine in request to Congress

    With the House looking rudderless for more than two weeks, the chamber’s temporary speaker, GOP Rep. Patrick McHenry of North Carolina, has faced calls to take on the job more permanently. But a measure that would have McHenry serve in the post until January stalled on Thursday afternoon due to objections from a number of Republicans, even as Jordan offered his support for it.

    U.S. stocks
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    were losing ground Friday, as rising bond yields
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    and geopolitical tensions continue to take a toll. 

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  • Jim Jordan dropped as speaker nominee by House Republicans, who plan for new pick next week

    Jim Jordan dropped as speaker nominee by House Republicans, who plan for new pick next week

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    House Republicans voted Friday in a secret ballot against keeping Rep. Jim Jordan as their nominee for speaker, and they planned to determine a new nominee next week.

    The Ohio congressman had been facing resistance in his bid to become speaker, with the number of fellow Republicans voting against him rising to 25 in a third round of voting Friday on the House floor, up from 22 in a prior ballot. 

    House…

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  • House speaker election: Jim Jordan loses in third ballot as Republican opposition grows again

    House speaker election: Jim Jordan loses in third ballot as Republican opposition grows again

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    Rep. Jim Jordan continued to face resistance Friday in his bid to become the next speaker of the U.S. House of Representatives, with the number of fellow Republicans voting against the Ohio congressman rising to 25 in a third ballot, up from 22 in the prior ballot.

    House GOP lawmakers were slated to hold a meeting around 1 p.m. Eastern Friday, and there were expectations they would vote on whether Jordan should continue to be their nominee for speaker.

    Jordan hasn’t sounded like he’s close to throwing in the towel, as he indicated at a news conference before the third round of voting that he planned to keep pushing.

    “There’s been multiple rounds of votes for speaker before,” he said during the news conference, referring to how former Speaker Kevin McCarthy needed 15 ballots to secure the job in January.

    “Our plan this weekend is to get a speaker elected to the House of Representatives as soon as possible so we can help the American people,” he also said.

    Jordan — an ally of former President Donald Trump and co-founder of the hardline House Freedom Caucus — had 22 GOP lawmakers vote against him in a second ballot on Wednesday. On Tuesday, 20 fellow Republicans backed other candidates in an initial round of voting.

    Jordan needs a simple majority of House lawmakers to back him in order to become speaker of the narrowly divided chamber, which has 221 Republicans and 212 Democrats, with two vacancies. That would have been 215 votes in the third ballot as there were some absences Friday.

    All 210 Democrats present Friday voted for their nominee, House Minority Leader Hakeem Jeffries, while 194 Republicans backed Jordan and 25 GOP lawmakers supported other candidates.

    Analysts have been warning that the process of picking a new speaker is preventing the Republican-run House from addressing crucial matters, such as supporting Israel and passing a budget to avoid a government shutdown next month that could rattle markets. 

    Related: Israel, Ukraine aid could run up against House dysfunction, making for ‘tragedy,’ analyst says

    And see: Biden seeks $14 billion for Israel, $61 billion for Ukraine in request to Congress

    With the House looking rudderless for more than two weeks, the chamber’s temporary speaker, GOP Rep. Patrick McHenry of North Carolina, has drawn calls to take on the job more permanently. But a measure that would have McHenry serve in the post until January stalled on Thursday afternoon due to objections from a number of Republicans, even as Jordan offered his support for it.

    “This resolution is really dangerous. We need to have a NORMAL election for speaker. @Jim_Jordan, I respect you but it is a massive mistake to back this,” GOP Rep. Anna Paulina Luna of Florida said Thursday in a post on X as the measure lost momentum.

    Given the GOP opposition, the McHenry option would require some Democratic support. Jeffries, a New York Democrat, has continued to signal openness to it.

    “Conversations hopefully will intensify today, perhaps continue throughout the weekend, and get us to a place where we can reopen the House no later than Monday of next week,” Jeffries told reporters on Friday after the third ballot.

    The GOP opposition to Jordan stems from a range of concerns, including that his speakership could lead to cuts in defense
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    spending, as well as the view that he didn’t provide enough support for the speaker bid of House Majority Leader Steve Scalise. Jordan’s Republican opponents also have said they’ve faced death threats for their stance, with Rep. Drew Ferguson of Georgia saying Thursday that the House GOP “does not need a bully as the Speaker.”

    Republican Rep. Matt Gaetz of Florida, who led the drive to oust McCarthy from his post more than two weeks ago, said he and the other GOP lawmakers who opposed McCarthy have made an offer to their colleagues who aren’t supporting Jordan, in an effort to get them to switch their votes.

    “The eight of us have said that we are willing to accept censure, sanction, suspension, removal from the Republican conference,” Gaetz told reporters after the third ballot, adding that the group will continue to vote with Republicans.

    Another Jordan supporter, GOP Rep. Bob Good of Virginia, said the Ohioan should stick with his bid, noting McCarthy went through many rounds.

    “We believe if we keep voting Jim Jordan will be elected speaker,” Good told reporters.

    U.S. stocks
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    were losing ground Friday, as rising bond yields
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    and geopolitical tensions continue to take a toll. 

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  • House speaker election: Jim Jordan isn’t a lock for the post before vote this afternoon

    House speaker election: Jim Jordan isn’t a lock for the post before vote this afternoon

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    It wasn’t clear Tuesday if Rep. Jim Jordan would be successful in his push to become the next speaker of the U.S. House of Representatives, with a floor vote drawing near and the Ohio Republican needing the support of a majority of the chamber.

    The narrowly divided chamber is expected to vote in the early afternoon to select a speaker, with the move coming after former Speaker Kevin McCarthy was ousted two weeks ago and after No. 2 House Republican Steve Scalise ended his bid for the post last Thursday.

    An ally of former President Donald Trump who secured his party’s nomination for the role on Friday, Jordan needs to have 217 votes in his favor, so he can only afford to have four fellow Republicans vote against him as no Democrats are expected to support him. The House has 221 Republicans and 212 Democrats, with two vacancies.

    While Jordan racked up significant endorsements Monday, more than four House Republicans are on record as being against him and others are leaning toward “no” votes, as shown in the chart below that comes from a CNN producer.

    McCarthy needed 15 rounds of voting in January to secure the speakership.  The California congressman repeatedly saw around 20 fellow Republicans vote against him before finally prevailing.

    There are “plenty of reasons to think” House Judiciary Committee Chairman Jordan will “be able to grind it out once people are on record,” but the situation is still “unsettled,” said Liam Donovan, a former GOP operative who is now a principal at law and lobbying firm Bracewell, in a post on X.

    One possible key is whether support for Jordan declines or not in a second round of voting, according to Matt Glassman, a senior fellow at Georgetown University’s Government Affairs Institute. He made that point in his post below.

    Analysts have been discussing whether a Jordan speakership could mean a greater likelihood of a government shutdown that weighs on markets
    SPX
    in mid-November, when funding is due to run out from last month’s continuing resolution, or CR.

    “Jordan voted against the CR a few weeks ago and has opposed most government spending bills in the past, so some people think he would be comfortable with a government shutdown next month.  That view has some merit, however, as speaker, Jordan would be responsible for helping vulnerable House Republicans who represent competitive districts,” said Brian Gardner, Stifel’s chief Washington policy strategist, in a note.

    “His new role could put Mr. Jordan in the position of having to make compromises with Democrats — new territory for him.  The more likely outcome is that, if elected speaker, Jordan will support an extension of the CR.”

    U.S. stocks
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    were advancing Tuesday, helped by encouraging earnings from big banks. Investors also are weighing rising geopolitical risks and better-than expected retail sales.

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  • Biden will travel to Israel Wednesday amid rising concern conflict will spread

    Biden will travel to Israel Wednesday amid rising concern conflict will spread

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    TEL AVIV, Israel — President Joe Biden will travel to Israel and on to Jordan Wednesday to meet with both Israeli and Arab leadership, as concerns increase that the raging Israel-Hamas war could expand into a larger regional conflict.

    U.S. Secretary of State Antony Blinken announced Biden’s travel to Israel as the humanitarian situation in the Gaza Strip grows more dire and as Israel prepares for a possible ground attack on the 141-square-mile territory to root out Hamas militants responsible for what U.S. and Israeli officials say was the most lethal assault against Jews since the Holocaust.

    Biden is looking to send the strongest message yet that the U.S. is behind Israel. His Democratic administration has pledged military support, sending U.S. carriers and aid to the region. Officials have said they would ask Congress for upward of $2 billion in additional aid for both Israel and Ukraine, which is fighting Russia’s invasion.

    It’s a chance for Biden to burnish his national security credentials to U.S. voters with the 2024 election just over a year away. It’s also an opportunity to demonstrate that he’s making good on his campaign promise of exercising American leadership after four years of former President Donald Trump’s “America First” foreign policy.

    But Biden’s presence could be seen as a provocative move by Hamas’ chief sponsor, Iran, or potentially viewed as tone-deaf by Arab nations as civilian casualties mount in Gaza. Blinken has already been traveling around the Mideast this past week trying to prevent the war with Hamas from igniting a broader regional conflict.

    Blinken made the announcement early Tuesday after more than seven hours of talks with Israeli Prime Minister Benjamin Netanyahu and other top Israeli officials.

    “He is coming here at a critical moment for Israel, for the region and for the world,” Blinken said.

    Shortly after in Washington, White House National Security Council spokesman John Kirby announced that Biden would also go to Jordan to meet with King Abdullah II, Egyptian President Abdel Fattah el-Sissi and Palestinian President Mahmoud Abbas.

    “We’ve been crystal clear about the need for humanitarian aid to be able to continue to flow into Gaza,” Kirby said. “That has been a consistent call by President Biden and certainly by this entire administration.”

    Truckloads of aid idled Monday at Egypt’s border with Gaza, barred from entry, as residents and humanitarian groups pleaded for water, food and fuel for dying generators, saying the tiny Palestinian territory sealed off by Israel after last week’s rampage by Hamas was near total collapse.

    Biden had been scheduled to travel to Pueblo, Colorado, on Monday but decided to postpone the visit so he could consult with his aides and speak with fellow leaders about the unfolding situation in the Middle East.

    The announcements came after Biden consulted with a trio of world leaders and his own national security team on Monday amid growing global concern about the humanitarian crisis unfolding in the Gaza Strip and fears that the Israel-Hamas war could metastasize into a broader regional conflict.

    Biden spoke by phone with Egypt’s el-Sissi, Iraqi Prime Minister Mohammed Shia al-Sudani and German Chancellor Olaf Scholz about the fallout from Hamas militants’ surprise attacks on Israel that left 1,400 dead and retaliatory strikes that have killed at least 2,778 Palestinians.

    European Union leaders will hold an emergency summit on Tuesday as concern mounts that the war between Israel and Hamas could fuel tensions in Europe and bring more refugees in search of sanctuary.

    Biden’s call with the Egyptian leader came one day after el-Sissi met with Blinken in Cairo. Egypt’s state-run media said el-Sissi told Blinken that Israel’s Gaza operation has exceeded “the right of self-defense” and turned into “a collective punishment.”

    Kirby declined to comment on el-Sissi’s concerns about how Israel is conducting the war.

    “The humanitarian situation was high on the list of the discussion with President el-Sissi,” Kirby said.

    Iran’s foreign minister warned Monday that “preemptive action is possible” if Israel moves closer to its looming ground offensive in the Gaza Strip.

    Iran is a chief financial sponsor of Hamas militants in Gaza and Hezbollah in Lebanon. The comments by Hossein Amirabdollahian follow a pattern of escalating rhetoric from Iran.

    “Leaders of the resistance will not allow the Zionist regime to do whatever it wants in Gaza and then go after other resistance groups after it’s done with Gaza,” he told state television. “Therefore any preemptive action is possible in the coming hours.”

    Kirby said the U.S. has not seen any signs that Iran might try to get directly involved in the Israel-Hamas conflict.

    White House officials have said that U.S. intelligence shows that Iran has been broadly aware that Hamas had been preparing for a possible strike against Israel. But the U.S. says it has yet to uncover evidence of direct Iranian involvement in the Oct. 7 attack.

    Israel is also preparing for the potential of a new front opening on its northern border with Lebanon, where it has exchanged fire repeatedly with the Iranian-backed Hezbollah group. The military ordered residents of 28 Israeli communities near the border to evacuate.

    Air raid sirens interrupted Blinken’s meetings with Israeli officials on three different occasions Monday, including twice as he huddled with Netanyahu and his war cabinet.

    In Washington, Biden was briefed in the Oval Office by their national security team on the situation on the ground in Israel and Gaza. White House chief of staff Jeff Zients joined the briefing led by national security adviser Jake Sullivan, Director of National Intelligence Avril Haines and Central Intelligence Agency Director Bill Burns, according to the White House.

    Blinken was in Israel on Monday for his second visit in less than a week for talks with Israeli leaders. He has been crisscrossing the Middle East with stops in Jordan, Bahrain, Qatar, Egypt, Saudi Arabia and the United Arab Emirates.

    Blinken, in talks Monday with Netanyahu and other Israeli officials, carried back some of the feedback he received from Arab leaders. He also “underlined his firm support for Israel’s right to defend itself from Hamas’ terrorism and reaffirmed U.S. determination to provide the Israeli government with what it needs to protect its citizens,” State Department spokesman Matthew Miller said in a statement.

    White House officials said Biden’s talks with Arab leaders in Amman will largely focus on humanitarian concerns for Gaza’s 2.3 million people. He’ll also make clear that Hamas does not stand for the Palestinian people’s right to dignity and self-determination.

    Still, White House officials bristled about whether Biden would ask Netanyahu and Israel officials to show restraint or set any conditions on any new U.S. military aid that could be in the pipeline.

    “We are not putting conditions on the military assistance that we are providing to Israel,” Kirby said. “They have a right to defend themselves. They have a right to go after this terrorist threat.”

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  • House speaker election: Jim Jordan racks up endorsements before vote at noon Tuesday

    House speaker election: Jim Jordan racks up endorsements before vote at noon Tuesday

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    Rep. Jim Jordan made progress Monday in his push to become the next speaker of the House of Representatives, winning endorsements from some fellow Republicans who just last week had refused to back him.

    The narrowly divided chamber of Congress is expected to vote around noon Eastern Tuesday to select a speaker, with the move coming after former Speaker Kevin McCarthy was ousted two weeks ago and after No. 2 House Republican Steve Scalise ended his bid for the post last week.

    GOP Rep. Ann Wagner of Missouri, who previously said a Jordan speakership was a non-starter for her, switched her stance on Monday. She said in a post on X that her colleague from Ohio “has allayed my concerns about keeping the government open with conservative funding, the need for strong border security, our need for consistent international support in times of war and unrest … as well as the need for stronger protections against the scourge of human trafficking and child exploitation.”

    Similarly, GOP Rep. Mike Rogers of Alabama, who chairs the House Armed Services Committee, announced in a post on X that he was backing Jordan after saying last week that there was nothing that Jordan could do to win his support. Rogers pointed to an accord on an annual Pentagon bill, the National Defense Authorization Act, saying he and Jordan had “agreed on the need for Congress to pass a strong NDAA, appropriations to fund our government’s vital functions, and other important legislation like the Farm Bill.”

    Republican Rep. Vern Buchanan of Florida offered his support for Jordan as well on Monday, though he noted that he’s “deeply frustrated by the way this process has played out.” Another endorsement came from GOP Rep. Ken Calvert of California, who chairs the House Appropriations Committee’s defense subpanel.

    Jordan — who has been endorsed by former President Donald Trumpsent a letter to his colleagues in which he called for coming together after a chaotic two weeks, saying: “It is time we unite to get back to work on behalf of the American people.” The congressman, a co-founder of the hardline House Freedom Caucus and chairman of the House Judiciary Committee, also told CNN that he was confident about Tuesday’s vote, saying: “I feel good about it.”

    Analysts have been warning that the process of finding a replacement for McCarthy is preventing the House from addressing crucial matters, such as avoiding a government shutdown next month and supporting Israel in its war against Hamas.

    House Republicans made Jordan their nominee for speaker on Friday, but he drew just 124 votes while 81 lawmakers backed another candidate for speaker, GOP Rep. Austin Scott of Georgia. In another round of voting on Friday, Jordan still had 55 colleagues voting against him, but he now appears to be flipping some of them to his side.

    One betting market, Smarkets, was giving Jordan a 33% chance of becoming speaker. 

    Spending cuts and shutdown coming?

    Having Jordan as speaker could mean a 1% cut in defense
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    and non-defense spending, noted Philip Wallach, senior fellow at the American Enterprise Institute, a conservative think tank. That’s because this year’s debt-limit deal includes a provision that calls for such reductions if there aren’t bipartisan agreements on a dozen funding bills before Jan. 1 and instead a reliance on short-term measures known as continuing resolutions, or CRs.

    “It is now clear,” Wallach said during an AEI event on Monday, that Jordan’s “plan is to have us live off continuing resolutions and implement this 1% cut.”

    “That’s a concrete thing where he could say, ‘Well, we’re moving in the right direction. We’ve taken a hard stand,’” the AEI expert added.

    The CEO of one financial advisory firm also sees standoffs in the future.

    “We expect the next U.S. speaker will be less inclined to make deals than McCarthy; in many ways it makes more sense for them, politically, not to be a deal-maker in the current environment,” said deVere Group’s Nigel Green in a statement.

    “We believe that a U.S. government shutdown is now more likely with a new speaker of the House, and this has the potential to create a domino effect in global financial markets
    SPX.

    BTIG analysts Isaac Boltansky and Isabel Bandoroff said the speaker drama suggests that next year’s election will also be full of twists and turns.

    “We have followed every twist and turn of the speakership race, and there is only one takeaway we can share with absolute certainty: This confirms that the 2024 election cycle will be exhausting, volatile, and just downright weird from beginning to end,” they wrote in a note.

    U.S. stocks
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    closed higher Monday, as investors looked ahead to earnings season and unwound the flight-to-safety trades seen last week on fears the Israel-Hamas war could escalate into a wider conflict.

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  • Jim Jordan nominated for speaker by House GOP amid worries over government shutdown and support for Israel

    Jim Jordan nominated for speaker by House GOP amid worries over government shutdown and support for Israel

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    Rep. Jim Jordan won the nomination Friday to be speaker of the U.S. House of Representatives after launching a fresh bid for the position, as analysts warned that the process of finding a replacement for former Speaker Kevin McCarthy was preventing the Republican-run chamber from addressing crucial matters.

    Jordan, an Ohio Republican who chairs the House Judiciary Committee, said “yup” on Friday morning when he was asked if he was running again for speaker after House Majority Leader Steve Scalise, a Louisiana Republican, ended his bid late Thursday.

    House Republicans voted in favor of Jordan in the afternoon, with 124 supporting him and 81 backing another candidate for speaker, GOP Rep. Austin Scott of Georgia, according to multiple reports. Republican lawmakers then left for the weekend and were expected to reconvene Monday.

    Rep. Austin Scott, a Georgia Republican, also spoke to reporters about the House speaker position on Friday.


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    Scott, who has been in office since 2011, said in a post on X that he wanted to “lead a House that functions in the best interest of the American people.”

    To become speaker of the GOP-led chamber, a candidate must earn the support of a majority of House Republicans. Jordan has crossed that hurdle but now must prevail in a vote on the House floor. Scalise bowed out of the running after it appeared he did not have sufficient support for a floor vote.

    See: House speaker election — how it works

    “[W]e need to be unified and get to the floor, and we want that to happen as soon as possible,” Jordan told Cleveland.com before the GOP vote on Friday.

    Scalise’s decision to drop his bid “delays the resumption of meaningful legislative
    business at least well into next week,” Benjamin Salisbury, director of research at Height Capital Markets, said in a note on Friday.

    A similar warning came from Greg Valliere, chief U.S. policy strategist at AGF Investments. The House has had a temporary speaker — GOP Rep. Patrick McHenry of North Carolina — since Oct. 3, when McCarthy was ousted in a historic vote.

    “This paralysis in the House is becoming a serious issue, as major legislation has stalled,” Valliere said in a note. “A government shutdown can’t be ruled out as the next deadline approaches on Nov. 17. More aid to Israel and Ukraine is widely supported in both parties and in both houses, but can this funding overcome procedural hurdles in the House?”

    Related: Kevin McCarthy’s ouster means chance of government shutdown next month ‘just went up to 80%,’ analyst says

    One betting market, Smarkets, was giving Jordan, a co-founder of the hard-line House Freedom Caucus, a 42% chance of becoming speaker. The Ohio congressman “faces difficult math,” as at least five Republican lawmakers are expected to vote against him on the House floor, and their ranks “may balloon by the time a floor vote is called,” Height’s Salisbury said.

    Other options that have gotten attention include giving more power to McHenry, the temporary speaker, or making a bipartisan deal on a speaker.

    U.S. stocks
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    DJIA

    COMP
    closed mostly lower Friday, with the selling blamed in part on the Israel-Hamas war.

    Now read: What U.S. political dysfunction means for the stock market and investors

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  • Scalise ends bid to become House speaker after failing to secure enough votes

    Scalise ends bid to become House speaker after failing to secure enough votes

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    WASHINGTON — Republican Steve Scalise ended his bid to become House speaker late Thursday after hardline holdouts refused to back the party’s nominee, throwing the GOP majority into deeper chaos with the chamber unable to function.

    Scalise told GOP colleagues at a closed-door evening meeting of his decision and pointedly declined to announce backing for anyone else, including his chief rival, Rep. Jim Jordan, the far-right Judiciary Committee chairman backed by Donald Trump who had already told colleagues he no longer would seek the job.

    Next steps are uncertain as the House is essentially closed while the Republican majority tries to elect a speaker after ousting Kevin McCarthy from the job.

    “I just shared with my colleagues that I’m withdrawing my name as a candidate for speaker-designee,” Scalise said as he emerged from the closed-door meeting at the Capitol.

    Scalise, R-La., said the Republican majority “still has to come together and is not there.”

    He had been working furiously to secure the votes after being nominated by a majority of his colleagues, but after hours of private meetings over two days and late into the evening it was clear lawmakers were not budging from their refusal to support him.

    Asked if he would throw his support behind Jordan, Scalise said, “It’s got to be people that aren’t doing it for themselves and their own personal interest.”

    He said he would push quickly for a resolution. “But it wasn’t going to happen. It wasn’t going to happen today. It wasn’t going to happen tomorrow. It needs to happen soon, but I’ve withdrawn my name,” he said.

    Frustrations have mounted as the political crisis spiraled and Republicans lost another day without a House speaker. Scalise was trying to peel off more than 100 votes, mostly from those who backed Jordan.

    But many hard-liners taking their cues from Trump have dug in for a prolonged fight to replace McCarthy after his historic ouster from the job. They argued that Majority Leader Scalise was no better choice, that he should be focusing on his health as he battles cancer and that he was not the leader they would support. No House votes were scheduled.

    McCarthy said afterward that Scalise would remain as majority leader but had no other advice for his colleagues. The California Republican had briefly flirted with a comeback bid but it’s unclear if he would try again.

    “I just think the conference as a whole has to figure out their problems, solve it and select the leader,” he said.

    The House is entering its second week without a speaker and is essentially unable to function during a time of turmoil in the U.S. and wars overseas, and the political pressure increasingly is on Republicans to reverse course, reassert majority control and govern in Congress.

    Action is needed to fund the government or face the threat of a federal shutdown in a month. Lawmakers also want Congress to deliver a strong statement of support for Israel in the war with Hamas, but a bipartisan resolution has been sidelined by the stalemate in the House. The White House is expected to soon ask for money for Israel, Ukraine and the backfill of the U.S. weapons stockpile.

    The situation is not fully different from the start of the year, when McCarthy faced a similar backlash from a different group of far-right holdouts who ultimately gave their votes to elect him speaker, then engineered his historic downfall.

    But the math this time is even more daunting, and the problematic political dynamic only worsening.

    Scalise, who is seen by some colleagues as hero for having survived a 2017 shooting on lawmakers at a congressional baseball game practice, won the closed-door Republican vote 113-99.

    But Scalise would have needed 217 votes to reach a majority in a floor battle with Democrats. The chamber is narrowly split 221-212, with two vacancies, meaning Scalise could lose just a few Republicans in the face of opposition from Democrats who will most certainly back their own leader, New York Rep. Hakeem Jeffries. Absences heading into the weekend could lower the majority threshold needed.

    Jordan’s backers revived calls for party members to get behind the Ohio Republican, who is a founding leader of the hard-right House Freedom Caucus.

    “Make him the speaker. Do it tonight,” said Rep. Jim Banks, R-Ind. “He’s the only one who can unite our party. It’s time to get behind him.”

    Other potential speaker nominees were being floated, including from the leadership team, but splitting the votes multiple ways would almost certainly only complicate the factional dynamics in the House majority.

    Some Republicans simply want Rep. Patrick McHenry, R-N.C., who was appointed interim speaker pro tempore, to be given greater authority to lead the House. A proposal was floated for just that earlier Thursday by the conservative but pragmatic Republican Governance Group of lawmakers.

    Rank-and-file Republicans left Thursday night’s meeting flummoxed about what to do next.

    “I’m a freshman caught up in this maelstrom,” said Rep. Mark Alford, R-Mo. “We’re a ship without a rudder right now. And I’m thoroughly disappointed in the process. And I just pray to God that we find something.

    Exasperated Democrats, who have been watching and waiting for the Republican majority to recover from McCarthy’s ouster, urged them to figure it out, warning the world is watching.

    “The House Republicans need to end the GOP Civil War, now,” Jeffries said.

    “The House Democrats have continued to make clear that we are ready, willing and able to find a bipartisan path forward,” he said, urging that the House reopen and change GOP-led rules that allowed a single lawmaker to put in motion the process to remove the speaker.

    As Congress sat idle, the Republicans spent a second day behind closed doors, arguing and airing grievances but failing to follow their own party rules and unite behind the nominee.

    Rep. Dan Crenshaw, R-Texas, said the meetings had been marked by “emotional” objections to voting for Scalise.

    Some Republicans simply took their Chick-fil-A lunches to go.

    Jordan had given his most vocal endorsement yet to Scalise and announced he did not plan to continue running for the leadership position.

    “We need to come together and support Steve,” Jordan, R-Ohio, told reporters before the midday closed session.

    But it was not enough to sway the holdouts.

    Handfuls of hard-liners announced they were sticking with Jordan, McCarthy or someone other than Scalise.

    Rep. Troy Nehls, R-Texas, reaffirmed his support for Trump as speaker; the position does not need to go to a member of Congress.

    Trump, the front-runner for the 2024 GOP presidential nomination, repeatedly discussed Scalise’s health during a radio interview that aired Thursday.

    “Well, I like Steve. I like both of them very much. But the problem, you know, Steve is a man that is in serious trouble, from the standpoint of his cancer,” Trump said on Fox News host Brian Kilmeade’s radio show.

    Scalise has been diagnosed with a form of blood cancer known as multiple myeloma and is being treated.

    “I think it’s going to be very hard, maybe in either case, for somebody to get,” Trump said. “And then you end up in one of these crazy stalemates. It’s a very interesting situation.”

    Many Republicans want to prevent the spectacle of a messy House floor fight like the grueling January brawl when McCarthy became speaker.

    But others said it was time for Republicans to get out from behind closed doors and vote.

    “Stop dragging it out,” said Rep. Marjorie Taylor Greene, R-Ga., on social media. “If Kevin McCarthy had to go 15 rounds then the next Speaker should be able to do the same or more if they have to.”

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  • Biden to ask Congress for ‘urgent action’ to help Israel after ‘sheer evil’ Hamas attacks

    Biden to ask Congress for ‘urgent action’ to help Israel after ‘sheer evil’ Hamas attacks

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    President Joe Biden on Tuesday said he would ask Congress to take “urgent action” to aid Israel after what he called “sheer evil” attacks by Hamas.

    “When Congress returns we’re going to ask them to take urgent action to fund the security requirements of our partners,” the president said from the White House. He said the U.S. is already surging extra military aid including ammunition to replenish Israel’s Iron Dome defense system.

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  • How the White House Keeps Canceling Student Debt After Supreme Court Ruling

    How the White House Keeps Canceling Student Debt After Supreme Court Ruling

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    What to Read Next

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  • Kevin McCarthy won’t run for House speaker again, says he has no regrets

    Kevin McCarthy won’t run for House speaker again, says he has no regrets

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    Hours after being ousted as speaker of the House, Rep. Kevin McCarthy said he was “at peace” with how it played out and that he “wouldn’t change a thing.”

    The California Republican said at a press conference Tuesday evening that he will not run for speaker again. He added that he hadn’t though about resigning from Congress.

    Read more: Kevin McCarthy ousted: Here’s who could replace him as House speaker

    McCarthy said he had no regrets: “I don’t regret standing up for choosing government over grievance. It is my responsibility. It is my job. I do not regret negotiating. Our government is designed to find compromise. I don’t regret my efforts to build coalitions and find solutions. I was raised to solve problems not create them.”

    “I may have lost this vote today, but as I walk out of this chamber I feel fortunate to have served … I wouldn’t change a thing.”


    — Rep. Kevin McCarthy

    McCarthy lashed out at Rep. Matt Gaetz, R-Fla., who led the effort to oust him as speaker.  “It had nothing to do about spending,” McCarthy said. “It was all about getting attention.”

    As for the eight hardline Republicans who voted against him, McCarthy said “They don’t get to say they’re conservative because they’re angry and chaotic.”

    He also blamed Democrats for his ouster, and said the current system in the House of Representatives is broken. “My fear is the institution fell today, because you can’t do the job,” he said.

    “Unfortunately, 4 percent of our conference can join all the Democrats and dictate who can be the Republican speaker in this House.”

    When asked if he had any advice for the next speaker, McCarthy said: “Change the rules.”

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  • Kevin McCarthy ousted as House speaker: Here’s who could replace him

    Kevin McCarthy ousted as House speaker: Here’s who could replace him

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    Kevin McCarthy has been ousted as speaker of the House of Representatives, and he said Tuesday night that he won’t try to reclaim his post. So who might replace him?

    That person, and the return of stability to Capitol Hill after an historic measure to take the speaker’s gavel from McCarthy, could help calm markets, analysts say. But the process of settling on a new speaker could drag out longer than markets would like.

    Here are the names of a few candidates to watch:

    Steve Scalise

    Matt Gaetz, the Florida Republican who led the charge to oust McCarthy, said he was open to supporting Rep. Steve Scalise of Louisiana. Scalise is the No. 2 House Republican but is also undergoing treatment for blood cancer. Gaetz said that treatment wasn’t a factor in his support.

    Tom Emmer

    Minnesota Republican Tom Emmer is the House’s No. 3 Republican and has been mentioned by other members as a potential replacement. Some of the GOP’s hard-right faction have said Emmer would deliver more conservative results for the party, according to a Washington Post report.

    Emmer is a cryptocurrency
    BTCUSD,
    -0.29%

    supporter and co-chairman of the Congressional Blockchain Caucus.

    Patrick McHenry

    Patrick McHenry, a North Carolina Republican who leads the House Financial Services Committee, is another possibility. He was one of the negotiators of the deal with the Biden administration to raise the debt ceiling — which could actually hurt him with some conservatives.

    McHenry is now speaker pro tempore, or temporary speaker, until the election of a new speaker.

    Elise Stefanik

    New York Rep. Elise Stefanik is the House GOP Conference Chair, the highest-ranking Republican woman in Congress. She is close to former President Donald Trump.

    The fight over McCarthy’s speakership played out after lawmakers extended until Nov. 17 funding for the federal government. The move avoided a shutdown but only kicks the funding can down the road. It’s unclear how long it will take to elect a new speaker, but having the battle now keeps it distanced from a key deadline.

    “From a governance standpoint, having this fight early in the government-funding window is far better than on the eve of November 17 when funding expires,” said Chris Krueger of TD Cowen, in a note.

    Also read: What McCarthy’s ouster means for markets as investors fret over congressional ‘dysfunction’

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  • What McCarthy ouster means for markets as investors fret over congressional ‘dysfunction’

    What McCarthy ouster means for markets as investors fret over congressional ‘dysfunction’

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    Another round of political infighting that ended up spelling the end of Kevin McCarthy’s short tenure as House speaker on Tuesday wasn’t the primary driver of a selloff in stocks and bonds — but it didn’t help, analysts said.

    Continued dysfunction in Congress goes a long way toward explaining why the bond market has been ”out of sorts,” said Jamie Cox, managing partner for Harris Financial Group, in emailed comments.

    As the House began to vote on a motion by Republican Rep. Matt Gaetz of Florida to remove McCarthy from the speakership, stocks closed sharply lower. The Dow Jones Industrial Average
    DJIA
    fell more than 430 points, or 1.3%, to wipe out its 2023 gain, while the S&P 500
    SPX
    posted its lowest close since June 1.

    The drop came in response to a continued surge in Treasury yields that saw the rate on the 10-year note
    BX:TMUBMUSD10Y
    end above 4.80% at its highest since August 2007. Yields and debt prices move opposite each other.

    See: Rising Treasury yields are upsetting financial markets. Here’s why.

    McCarthy, a California Republican, lost the gavel as 216 members of the House voted in favor of ousting him while 210 supported him in a historic challenge.

    Read: Kevin McCarthy ousted as House speaker, falling after historic challenge by Matt Gaetz

    Analysts have pointed to a number of factors behind the continued climb in yields, including the Federal Reserve signaling last month that rates could stay high through 2024 and beyond.

    But market watchers said continued drama in Washington is doing nothing to soothe market volatility, with the showdown over McCarthy’s fate the result of a last-minute deal over the weekend that saw lawmakers temporarily avert a government shutdown. The latest turmoil comes just months after a debt-ceiling showdown that put the U.S. government on the brink of a first-ever default.

    “Investors are sick and tired of being jerked around with out of control spending, the inability to govern, and the constant dragging of markets to the edge of economic calamity with shutdowns and debt ceiling nonsense,” Cox wrote.

    McCarthy’s removal means a mid-November government shutdown, when stopgap funding runs out, is now an 80% probability, said Terry Haines, founder of Pangaea Policy, in a note.

    “[I]t’s not a one-off shutdown markets should be concerned about, but increased volatility for at least 3 months where markets won’t know final decisions on U.S. government annual spending, particularly in government-dependent sectors including defense, semiconductors, and healthcare,” Haines said.

    Tom Essaye, founder of Sevens Report Research, warned that the ”more dysfunctional” Congress appears, ”the higher yields go and the more stocks drop.”

    ”So, while congressional dysfunction isn’t the main reason yields are volatile, it is a contributor and the sooner Washington removes itself from the market dialogue, the better,” he said in a Tuesday morning note.

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  • Kevin McCarthy ousted as House speaker: Here’s who could replace him

    Kevin McCarthy ousted as House speaker: Here’s who could replace him

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    Kevin McCarthy has been ousted as speaker of the House of Representatives, and he said Tuesday night that he won’t try to reclaim his post. So who might replace him?

    That person, and the return of stability to Capitol Hill after an historic measure to take the speaker’s gavel from McCarthy, could help calm markets, analysts say. But the process of settling on a new speaker could drag out longer than markets would like.

    Here are the names of a few candidates to watch:

    Steve Scalise

    Matt Gaetz, the Florida Republican who led the charge to oust McCarthy, said he was open to supporting Rep. Steve Scalise of Louisiana. Scalise is the No. 2 House Republican but is also undergoing treatment for blood cancer. Gaetz said that treatment wasn’t a factor in his support.

    Tom Emmer

    Minnesota Republican Tom Emmer is the House’s No. 3 Republican and has been mentioned by other members as a potential replacement. Some of the GOP’s hard-right faction have said Emmer would deliver more conservative results for the party, according to a Washington Post report.

    Emmer is a cryptocurrency
    BTCUSD,
    +0.94%

    supporter and co-chairman of the Congressional Blockchain Caucus.

    Patrick McHenry

    Patrick McHenry, a North Carolina Republican who leads the House Financial Services Committee, is another possibility. He was one of the negotiators of the deal with the Biden administration to raise the debt ceiling — which could actually hurt him with some conservatives.

    McHenry is now speaker pro tempore, or temporary speaker, until the election of a new speaker.

    Elise Stefanik

    New York Rep. Elise Stefanik is the House GOP Conference Chair, the highest-ranking Republican woman in Congress. She is close to former President Donald Trump.

    The fight over McCarthy’s speakership played out after lawmakers extended until Nov. 17 funding for the federal government. The move avoided a shutdown but only kicks the funding can down the road. It’s unclear how long it will take to elect a new speaker, but having the battle now keeps it distanced from a key deadline.

    “From a governance standpoint, having this fight early in the government-funding window is far better than on the eve of November 17 when funding expires,” said Chris Krueger of TD Cowen, in a note.

    Also read: What McCarthy’s ouster means for markets as investors fret over congressional ‘dysfunction’

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  • Kevin McCarthy ousted as House speaker, falling after historic challenge by Matt Gaetz

    Kevin McCarthy ousted as House speaker, falling after historic challenge by Matt Gaetz

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    The U.S. House of Representatives removed Rep. Kevin McCarthy from his post on Tuesday, as 216 members of his chamber voted in favor of ousting him while 210 supported him.

    Rep. Matt Gaetz of Florida led the challenge against his fellow Republican, filing what’s known as a “motion to vacate” late Monday, after McCarthy relied on House Democrats to pass a short-term measure that averted a partial government shutdown.

    “I don’t think voting against Kevin McCarthy is chaos,” Gaetz said in a speech Tuesday on the House floor. “I think $33 trillion in debt is chaos. I think that facing a $2.2 trillion annual deficit is chaos. I think that not passing single-subject spending bills is chaos.”

    The Florida congressman had said on Sunday that he expected Democrats were “going to bail out” McCarthy, meaning support him enough to offset the opposition from Gaetz and some other Republicans, but the vote didn’t play out that way.

    Eight Republicans joined with all Democrats to vote against McCarthy. The eight were Andy Biggs of Arizona, Ken Buck of Colorado, Tim Burchett of Tennessee, Eli Crane of Arizona, Gaetz, Bob Good of Virginia, Nancy Mace of South Carolina and Matt Rosendale of Montana. There were a few lawmakers who were absent, such as Democratic Rep. Nancy Pelosi of California, McCarthy’s predecessor.

    See: Kevin McCarthy’s House speakership appears in peril with Democrats ‘not saving’ him

    GOP Rep. Patrick McHenry of North Carolina is now serving as the speaker pro tempore, or temporary speaker.

    Until now, no House speaker had ever been removed by a motion to vacate. The move requires a simple majority of the House to succeed and can be triggered by a single member.

    Rep. Tom Emmer of Minnesota, who has been the No. 3 House Republican, was among the GOP lawmakers who spoke in favor of McCarthy.

    “Under Speaker McCarthy’s leadership, our House Republican majority has actually defied all odds and over-performed expectations again and again and again,” Emmer said on the House floor.

    There has been a view among analysts that a divided Washington’s spending might not change that much even if Gaetz managed to oust McCarthy, as MarketWatch reported.

    About 80% of Congress looks likely to vote for a spending deal that would call for some increases in outlays, Ukraine aid, money for the U.S.-Mexico border and a new commission on the nation’s debt, said Chris Krueger, managing director at TD Cowen’s Washington Research Group, in a note. That agreement would come around when a new deadline of Nov. 17 hits.

    U.S. stocks
    SPX

    DJIA

    COMP
    could end up taking a hit from the House’s drama, according to Stifel’s chief Washington policy strategist, Brian Gardner.

    “Removing Mr. McCarthy as Speaker could fuel temporary risk-off sentiment in the markets,” Gardner wrote in a note Tuesday. He suggested that markets “might react negatively to government dysfunction.”

    Stocks closed sharply lower Tuesday, after a report on job openings showed the labor market remains tight, leaving room for more interest-rate hikes.

    Read more: What McCarthy ouster means for markets as investors fret over congressional ‘dysfunction’

    A motion to vacate last went to a House vote in 1910, with then-Speaker Joseph Cannon surviving it and staying on as the chamber’s leader. Such a motion was filed in July 2015 against then-Speaker John Boehner and not voted on by the House at that time, but Boehner went on to announce his resignation in September 2015.

    In addition, a motion to vacate was considered in 1997 but ultimately not used by a small group of House Republicans who had grown disgruntled with the leadership of then-Speaker Newt Gingrich.

    Now read: Kevin McCarthy ousted: Here’s who could replace him as House speaker

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  • Matt Gaetz files motion to oust Kevin McCarthy as House speaker

    Matt Gaetz files motion to oust Kevin McCarthy as House speaker

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    Rep. Matt Gaetz of Florida filed a resolution late Monday to remove House Speaker Kevin McCarthy, a fellow Republican, from his post as their chamber’s leader.

    The congressman had promised to make the move against McCarthy after the speaker on Saturday relied on the support of House Democrats to pass a short-term measure that averted a partial government shutdown. McCarthy had responded to Gaetz’s challenge by saying “Bring it on.”

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  • Newsom to name Laphonza Butler, former Kamala Harris adviser, to Feinstein’s Senate seat

    Newsom to name Laphonza Butler, former Kamala Harris adviser, to Feinstein’s Senate seat

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    LOS ANGELES — California Gov. Gavin Newsom will name Laphonza Butler, a Democratic strategist and adviser to Kamala Harris’ presidential campaign, to fill the vacant U.S. Senate seat held by the late Sen. Dianne Feinstein, a spokesman in his office said Sunday.

    In choosing Butler, Newsom fulfilled his pledge to appoint a Black woman if Feinstein’s seat should become open. However, he had been facing pressure by some Black politicians and advocacy groups to select Rep. Barbara Lee, a prominent Black congresswoman who is already running for the seat.

    Butler will be the only Black woman serving in the U.S. Senate, and the first openly LGBTQ person to represent California in the chamber.

    The long-serving Democratic senator died last Thursday after a series of illnesses. Butler leads Emily’s List, a political organization that supports Democratic women candidates who favor abortion rights. She also is a former labor leader with SEIU 2015, a powerful force in California politics.

    Butler currently lives in Maryland, according to her Emily’s List biography.

    She did not immediately respond to an email seeking comment. A spokesman in Newsom’s office who declined to be named confirmed to The Associated Press that Newsom had chosen Butler.

    Democrats control the Senate 51-49, though Feinstein’s seat is vacant. A quick appointment by Newsom will give the Democratic caucus more wiggle room on close votes, including nominations that Republicans uniformly oppose. She could be sworn in as early as Tuesday evening when the Senate returns to session.

    Feinstein, the oldest member of Congress and the longest-serving woman in the Senate, died at age 90 after a series of illnesses. She said in February she was would not seek reelection in 2024. Lee is one of several prominent Democrats competing for the seat, including Democratic U.S. Reps. Katie Porter and Adam Schiff. Newsom said he did not want to appoint any of the candidates because it would give them an unfair advantage in the race.

    His spokesman Anthony York said the governor did not ask Butler to commit to staying out of the race. Dec. 8 is the deadline for candidates to file for the office.

    Butler has never held elected office but has a long track record in California politics. She served as a senior adviser to Harris’s 2020 presidential campaign while working at a political firm filled with strategists who have worked for Newsom and many other prominent state Democrats. She also briefly worked in the private sector for Airbnb.

    She called Feinstein “a legendary figure for women in politics and around the country,” in a statement posted after Feinstein’s death.

    Emily’s List, the group Butler leads, focuses on electing Democratic women who support abortion rights. With the U.S. Supreme Court’s 2022 decision to overturn women’s constitutional right to abortion, the issue has become a galvanizing one for many Democrats.

    It’s not Newsom’s first time selecting a U.S. senator, after being tasked with choosing a replacement for Kamala Harris when she was elected vice president; at that time he selected California Secretary of State Alex Padilla for the post. It was one of a string of appointments Newsom made in late 2020 and early 2021, a power that gave him kingmaker status among the state’s ambitious Democrats.

    The seat is expected to stay in Democratic hands in the 2024 election. Democrats in the liberal-leaning state have not lost a statewide election since 2006, and the party holds a nearly 2-to-1 voter registration advantage over Republicans.

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  • Government shutdown averted for now as Congress approves 45-day funding bridge

    Government shutdown averted for now as Congress approves 45-day funding bridge

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    The U.S. Senate on Saturday night, with mere hours left before a midnight deadline for a federal government shutdown, voted to advance a short-term stopgap funding measure.

    The 45-day continuing resolution, which funds the government at existing 2023 levels, includes disaster relief funds but no Ukraine aid. A debate over continued help for Ukraine after Russia’s illegal invasion is what pushed the Senate vote so close to the deadline. The Senate approved the temporary funding by a vote of 88 to 9, exceeding the necessary 60 votes.

    Earlier Saturday, House Speaker Kevin McCarthy, the California Republican, pushed the 45-day funding bill through his chamber. But he may have put his future leadership role again in jeopardy as his far-right flank had spoken out against a short-term solution to avoid the shutdown.

    Politico, writing Saturday, had suggested that the bipartisan nature of the House’s passage, by a 335-91 vote, made Senate approval more likely, a last-minute shift that surprised much of Washington’s Capitol Hill watchers.

    Saturday’s passage in the Senate ended a weeks-long House debate over government funding that appeared to be headed toward a shutdown. The Senate eventually dropped its own stopgap bill to pass the House version that was introduced only Saturday morning.

    House Republicans had joined with Democrats Friday night to defeat another stopgap version proposed by McCarthy that would have slashed spending and imposed stricter new immigration controls.

    Still, enough of a two-party alliance was found Saturday to keep the government open for now.

    “We’re going to do our job,” McCarthy said earlier Saturday. “We’re going to be adults in the room. And we’re going to keep government open.”

    The House is now scheduled to work the first two weeks of October and will take votes between Oct. 2-5 and again Oct. 10-13 as they work on long-term appropriations bills. It had been scheduled time off.

    The House approach did leave out the Biden administration’s fresh ask for more aid to Ukraine. It does include disaster relief, the extension of a federal flood insurance program that had implications for real estate closings and it granted vital FAA reauthorization.

    “Knowing what transpired through the summer — the disasters in Florida, the horrendous fire in Hawaii and also disasters in California and Vermont — we will put the supplemental portion that the president asks for in disaster there, too,” McCarthy said after a closed-door Republican meeting earlier Saturday.

    Sen. J.D. Vance, the Republican of Ohio, told the Washington Post Saturday night after the vote that a fight over aid to Ukraine is still looming. “My sense is my colleagues in the House are much more skeptical of limitless Ukraine funding than my colleagues in the Senate,” Vance told the publication. “And what that means is any Ukraine funding package is going to be dead on arrival in the House.”

    Rep. Matt Gaetz, the Republican of Florida, who has led a charge against the speaker, had vowed to force a vote on removing McCarthy if a “clean” short-term funding measure came to the floor. He indicated on Saturday, according to Politico, that he would need to consult with his allies about the status of a forced ouster vote if the bridge funding moved forward.

    A more permanent funding solution is needed to keep everything from the Social Security COLA boost to national parks, passport issuance and food aid safe. Stock markets
    SPX,
    which have risen during recent short-lived government closures, were mindful that this latest shutdown could impede the Federal Reserve’s efforts to fight inflation with its interest-rate lever. What’s more, without a deal in place, federal workers will face furloughs and more than 2 million active-duty and reserve military troops will work without pay.

    Read: U.S. government shutdown: Here’s how it could affect you, from food aid to getting your passport

    Opinion: Government shutdown looms: Here’s how to help preserve your investment portfolio.  

    The Associated Press contributed.

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  • Government shutdown averted for now as Congress approves 45-day funding bridge

    Government shutdown averted for now as Congress approves 45-day funding bridge

    [ad_1]

    The U.S. Senate on Saturday night, with mere hours left before a midnight deadline for a federal government shutdown, voted to advance a short-term stopgap funding measure.

    The 45-day continuing resolution, which funds the government at existing 2023 levels, includes disaster relief funds but no Ukraine aid. A debate over continued help for Ukraine after Russia’s illegal invasion is what pushed the Senate vote so close to the deadline. The Senate approved the temporary funding by a vote of 88 to 9, exceeding the necessary 60 votes.

    Earlier Saturday, House Speaker Kevin McCarthy, the California Republican, pushed the 45-day funding bill through his chamber. But he may have put his future leadership role again in jeopardy as his far-right flank had spoken out against a short-term solution to avoid the shutdown.

    Politico, writing Saturday, had suggested that the bipartisan nature of the House’s passage, by a 335-91 vote, made Senate approval more likely, a last-minute shift that surprised much of Washington’s Capitol Hill watchers.

    Saturday’s passage in the Senate ended a weeks-long House debate over government funding that appeared to be headed toward a shutdown. The Senate eventually dropped its own stopgap bill to pass the House version that was introduced only Saturday morning.

    House Republicans had joined with Democrats Friday night to defeat another stopgap version proposed by McCarthy that would have slashed spending and imposed stricter new immigration controls.

    Still, enough of a two-party alliance was found Saturday to keep the government open for now.

    “We’re going to do our job,” McCarthy said earlier Saturday. “We’re going to be adults in the room. And we’re going to keep government open.”

    The House is now scheduled to work the first two weeks of October and will take votes between Oct. 2-5 and again Oct. 10-13 as they work on long-term appropriations bills. It had been scheduled time off.

    The House approach did leave out the Biden administration’s fresh ask for more aid to Ukraine. It does include disaster relief, the extension of a federal flood insurance program that had implications for real estate closings and it granted vital FAA reauthorization.

    “Knowing what transpired through the summer — the disasters in Florida, the horrendous fire in Hawaii and also disasters in California and Vermont — we will put the supplemental portion that the president asks for in disaster there, too,” McCarthy said after a closed-door Republican meeting earlier Saturday.

    Sen. J.D. Vance, the Republican of Ohio, told the Washington Post Saturday night after the vote that a fight over aid to Ukraine is still looming. “My sense is my colleagues in the House are much more skeptical of limitless Ukraine funding than my colleagues in the Senate,” Vance told the publication. “And what that means is any Ukraine funding package is going to be dead on arrival in the House.”

    Rep. Matt Gaetz, the Republican of Florida, who has led a charge against the speaker, had vowed to force a vote on removing McCarthy if a “clean” short-term funding measure came to the floor. He indicated on Saturday, according to Politico, that he would need to consult with his allies about the status of a forced ouster vote if the bridge funding moved forward.

    A more permanent funding solution is needed to keep everything from the Social Security COLA boost to national parks, passport issuance and food aid safe. Stock markets
    SPX,
    which have risen during recent short-lived government closures, were mindful that this latest shutdown could impede the Federal Reserve’s efforts to fight inflation with its interest-rate lever. What’s more, without a deal in place, federal workers will face furloughs and more than 2 million active-duty and reserve military troops will work without pay.

    Read: U.S. government shutdown: Here’s how it could affect you, from food aid to getting your passport

    Opinion: Government shutdown looms: Here’s how to help preserve your investment portfolio.  

    The Associated Press contributed.

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