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Free AccessOpposition To Jordan Speaker Bid Risks Of Political Blowback For GOP
11:00 ET 16:00 BST: The US House of Representative is scheduled to came back into session for a second rollcall to elect a new speaker. The vote is expected around 12:00 ET 17:00 BST.
- Judiciary Committee Chair Jim Jordan (R-OH) yesterday hit a major roadblock in his speaker bid. His 200 votes matched the lowest achieved by former House Speaker Kevin McCarthy (R-CA) during the 15 ballots in January and offered no clear pathway to the gavel.
- Democrats will again vote en masse for House Minority Leader Hakeem Jeffries (D-NY), as they have in all 16 speaker ballots this year.
- The GOP rebels this time are a broad group of centrists led by senior appropriators who have historical grievances with Jordan's obfuscation of the budget process.
- Unlike January, Jordan does not have unlimited time stare down opposition and another marathon election process will be politically damaging for the GOP. A new YouGov survey finds that Americans are more likely to blame Republicans for gridlock this time around.
- Note: Government funding expire in 30 days and major legislation on Ukraine, Israel, and the US-Mexico border is pending.
- If he fails to shrink the deficit today, Jordan may be forced to abandon his bid for speaker and the prospect of a bipartisan solution increases. This could include empowering interim speaker Patrick McHenry (R-NC) to move legislation or a third set of internal GOP deliberations to find a new nominee.
- More analysis in today's edition of our US Daily Brief.
To read the full story
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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.