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Gaetz 'Motion To Vacate' Against McCarthy Sets Up High-Stakes Showdown
On the evening of 2 October Rep. Matt Gaetz (R-FL) moved a 'motion to vacate the chair' in an effort to eject Speaker of the House of Representatives Kevin McCarthy (R-CA) from his office. The move sets up a high-stakes showdown.
- Gaetz will have to convince three or more of his colleagues to back the eventual vote to oust McCarthy.
- Meanwhile, McCarthy will also be engaged in fraught discussions attempting to both shore up support among House Republicans but also potentially seeking the backing of Democrats in order to keep hold of the gavel. This would require notable concessions from McCarthy to the Dems, risking further schisms with GOP colleagues.
- Having presented the 'privileged resolution' on 2 Oct, Gaetz has essentially put McCarthy on notice that a vote is coming. Eventually this must be considered by the House but can be delayed with procedural votes. A lawmaker can then go to the House floor and request a vote that would be considered privileged, requiring the ballot to take place within two legislative days.
- Given that the stopgap funding package passed over the weekend expires 17 November, a lengthy process of seeking to remove McCarthy would eat into the time required to pass the long-term spending bill. This would risk a damaging gov't shutdown.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.