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Free AccessJohnson Becomes Latest Rep. To Seek Speaker's Gavel After Day Of High Drama
Representative Mike Johnson (R-LA) will become the fourth Republican speaker-designate to seek the speaker's gavel in a vote likely to take place on the floor of the House of Representatives around 1200ET on 25 Oct. It remains unclear whether Johnson, a little known hardline social conservative who served on former President Donald Trump's impeachment defence team and has backed halting aid to Ukraine, will have the requisite support to win the requisite 217 votes to become speaker.
- In the late-night GOP caucus vote that put Johnson forward for the speaker vote, 43 Republicans voted for former Speaker Kevin McCarthy (R-CA) despite his name not appearing on the ballot.
- This comes after a day of high drama in the Capitol on 24 October that saw a win for Majority Whip Tom Emmer (R-MN) in the first set of votes, only for Trump to tank his candidacy. Trump cricicised Emmer in a social media post, calling him a “Globalist RINO”, short for “Republican in name only”, adding that his speakership would be a "tragic mistake".
- The continued inability of Republicans in the House to coalesce around a candidate poses risks in numerous areas, including foreign policy - where support packages for Ukraine, Israel and Taiwan are unable to be passed - and domestically given the looming partial gov't shutdown that kicks in from 0001 on 18 November if the requisite spending bills are not passed.
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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.