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MNI POLITICAL RISK - House Republican Speaker Crisis Deepens

Executive Summary:

  • House Republicans have been plunged deeper into crisis after a plan to temporarily empower Speaker Pro Tempore Patrick McHenry (R-NC) collapsed yesterday.
  • Republican speaker nominee, Judiciary Chair Jim Jordan (R-OH), is expected to press forward with a third speaker ballot today despite making little progress flipping rebel votes.
  • Of course, nothing is assured at the US Capitol. Moderates have so far bucked the suggestion that they are more likely to cave than conservatives, but there are some variables which may force a resolution.
  • President Biden yesterday gave a rare address from the Oval Office linking the war in Ukraine and the war between Israel and Hamas with a broader struggle between the democracy and autocracy. Biden is expected to unveil a request today for around USD$100b to support foreign policy objectives.
  • European Council President Charles Michel and European Commission President Ursula von der Leyen will join Biden at the White House today for the first US-EU summit in two years but expectations are low for a breakthrough on steel and aluminium tariffs.
  • Senator Laphonza Butler (D-CA) has announced that she won’t for re-election in 2024.
  • President Biden is set to appoint Kurt Campbell, the architect of the Biden administration's Indo-Pacific strategy, as Deputy Secretary of State.
  • Poll of the Day: Despite overwhelming support for Israel, the voter response to Biden's handling of the crisis has been muted.

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MNIPOLRISKUSDaily201023.pdf

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