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WASHINGTON, Oct 3 (Reuters) - A handful of Republicans in the U.S. House of Representatives on Tuesday ousted Republican Speaker Kevin McCarthy, as party infighting plunged Congress into further chaos just days after it narrowly averted a government shutdown. McCarthy told reporters he would not make another run for speaker. [1/5]Former Speaker of the House Kevin McCarthy (R-CA) speaks to reporters after he was ousted from the position of Speaker by a vote of the House of Representatives at the U.S. Capitol in Washington, U.S. October 3, 2023. "We need a speaker who will fight for something - anything - other than staying on as speaker," said Republican Representative Bob Good. "Think long and hard before you plunge us into chaos, because that's where we're headed," said Republican Representative Tom Cole.

Persons: Kevin McCarthy, McCarthy, Matt Gaetz, Gaetz, McCarthy's, Biden, Jonathan Ernst, Steve Scalise, Tom Emmer, Patrick McHenry, Paul Ryan, John Boehner, Bob Good, Nancy Mace, I've, Mace, Tom Cole, Pramila Jayapal, Makini Brice, David Morgan, Richard Cowan, Nandita Bose, Moira Warburton, Susan Heavey, Andy Sullivan, Scott Malone, Alistair Bell, Howard Goller, Grant McCool, Cynthia Osterman Organizations: U.S . House, Republican, Democratic, U.S, Capitol, REUTERS, White, Senate, DEMOCRATIC, Thomson Locations: U.S, Florida, Washington, Ukraine, Washington , U.S

☆ Who could succeed Republican Kevin McCarthy as speaker of the US House?
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +3 min

[1/2] Former Speaker of the House Kevin McCarthy (R-CA) speaks to reporters after he was ousted from the position of Speaker by a vote of the House of Representatives at the U.S. Capitol in Washington, U.S. October 3, 2023. 2 House Republican and has long been favored to take over the head of the Republican Party in the chamber after McCarthy's tenure ended. TOM EMMERRepresentative Tom Emmer is the House Republican whip and had headed the House Republicans' campaign arm during the 2022 midterm elections, when Republicans recaptured the House majority from President Joe Biden's Democrats. Chair of the House Financial Services Committee, McHenry is a McCarthy ally who spoke in support of McCarthy prior to the vote. KEVIN MCCARTHYRepresentative Kevin McCarthy told reporters on Tuesday he would not make another run for speaker.

Persons: Kevin McCarthy, Jonathan Ernst, McCarthy, STEVE SCALISE, Matt Gaetz, Steve Scalise, Scalise, Tom Emmer, Joe Biden's, JIM JORDAN, Jim Jordan, Donald Trump, BYRON DONALDS, Byron Donalds, PATRICK MCHENRY, Patrick McHenry, McHenry, DONALD TRUMP, Biden, Gaetz, Andy Ogles, Trump, HAKEEM JEFFRIES, Hakeem Jeffries, KEVIN MCCARTHY, Makini Brice, Scott Malone, Howard Goller Organizations: U.S, Capitol, REUTERS, U.S . House, Republican, Republican Party, TOM, Republicans, Committee, Financial Services, Trump, Democratic, Thomson Locations: Washington , U.S, U.S

The House vote to oust Kevin McCarthy from his post on Tuesday marked a historic first, as a group of conservatives sided with Democrats to successfully boot him from the speakership. Immediately following the vote to oust McCarthy, a temporary speaker – Rep. Patrick McHenry of North Carolina – took over based upon a list of succession that the former speaker submitted in January. In his first move in the temporary role, McHenry recessed the chamber to “discuss the path forward,” before lawmakers returned to their districts for the week. Following the vote, former House Speaker Nancy Pelosi was ordered to vacate her Capitol hideaway. Pelosi called the move a “sharp departure from tradition,” as other former speakers have been permitted to retain offices near the House chamber beyond their tenure.

Persons: Kevin McCarthy, McCarthy, Patrick McHenry of, Patrick McHenry of North Carolina –, ”, McHenry, –, Steve Scalise, Jim Jordan of, Kevin Hern, Tom Emmer, Donald Trump, he’s, Matt Gaetz’s, Mitch McConnell, McCarthy –, “, ” McConnell, Chuck Schumer, Nancy Pelosi, Pelosi Organizations: White, Republican, GOP, Republicans, House Democrats, Capitol hideaway Locations: Patrick McHenry of North Carolina, McHenry, Louisiana, Jim Jordan of Ohio, Oklahoma, Minnesota, Florida

☆ Kevin McCarthy's wild ride as US House speaker ends in historic fall
▼ + stars: | 2023-10-04 | by ( David Morgan | ) www.reuters.com time to read: +5 min

U.S. House Speaker Kevin McCarthy (R-CA) walks back to the Speaker's office after a motion to vacate the chair of Speaker of the House and end McCarthy's continued leadership passed by a vote of 216-210, at the U.S. Capitol in Washington. On Tuesday, eight members of his party joined 208 Democrats to oust McCarthy as speaker in a 216-210 vote. But as I walk out of this chamber, I feel fortunate to have served the American people," McCarthy, 58, told reporters. "Frankly, one has to wonder whether or not the House is governable at all," Republican Representative Dusty Johnson told reporters after McCarthy's ouster. But hardliners soon used their leverage to shutter the House floor in protest over the spending level that McCarthy had agreed to Biden.

Persons: Kevin McCarthy, McCarthy's, Jonathan Ernst, Matt Gaetz, McCarthy, Gaetz, " McCarthy, Donald Trump, Joe Biden, seethed, Biden, John Boehner, Paul Ryan, Trump, Dusty Johnson, Steve Scalise, Tom Emmer, Jodey Arrington, Kevin Hern, David Morgan, Scott Malone, Stephen Coates Organizations: U.S, Capitol, REUTERS, Rights, U.S . House, California Republican, Democratic, Republican, Reuters, Republicans, Committee, Thomson Locations: Washington, California, U.S

☆ House speaker succession battle heats up: Jordan, Scalise and Trump in the mix
▼ + stars: | 2023-10-04 | by ( Christina Wilkie | In | ) www.cnbc.com time to read: +3 min

Reps. Jim Jordan and Steve Scalise are the top candidates to replace Kevin McCarthy, who was voted out as speaker in an unprecedented move Tuesday. "I think very highly of Steve Scalise. I would vote for Steve Scalise," Gaetz said this week. The third-ranking House Republican, Majority Whip Tom Emmer of Minnesota, mused that Scalise "would be a great speaker" on Tuesday. Should Scalise become House Speaker, Emmer hopes to replace him as Majority Leader.

Persons: Steve Scalise, Jim Jordan, Alexander Vindman, President Trump, WASHINGTON —, gavel, Kevin McCarthy, Donald Trump, Jordan, Darrell Issa, Tom Massie of, Scalise, Matt Gaetz, McCarthy, Gaetz, Tom Emmer, Emmer Organizations: European Affairs, National Security Council, U.S . House, House Intelligence, House Foreign Affairs, Capitol, WASHINGTON, Republican, Freedom Caucus, Tom Massie of Kentucky, White, House, GOP, Florida Republican Locations: Washington, Ohio, Calif, Louisiana, Florida, Minnesota

☆ After McCarthy's ouster, House GOP leaders are scrambling to boost their rank
▼ + stars: | 2023-10-04 | by ( Madison Hall | ) www.businessinsider.com time to read: +3 min

On Tuesday, the House voted to remove Kevin McCarthy as speaker. As it stands, Rep. Steve Scalise is still the majority leader, Rep. Tom Emmer is the majority whip, and Rep. Elise Stefanik serves as the Republican conference chairman. He'll face off against Rep. Jim Jordan, the chair of the House Judiciary Committee, as well as Oklahoma Rep. Kevin Hern. Guy Reschenthaler, the GOP's chief deputy whip, also declared his desire on Wednesday to replace Emmer as whip if given the opportunity. AdvertisementAdvertisementDespite the ongoing movement amongst Republican House leadership at the moment, the House is out of session until next week.

Persons: Kevin McCarthy, Steve Scalise, Tom Emmer, —, McCarthy, Matt Gaetz, Patrick McHenry, Elise Stefanik, Scalise, He'll, Jim Jordan, Kevin Hern, Stefanik, who's, Guy Reschenthaler, Emmer, Greg Steube, Joe Biden Organizations: Service, Democratic, Republican, House, Rep, Committee, GOP Locations: Oklahoma

There was no immediate indication of who might succeed McCarthy, but the next speaker could quash more Ukraine aid before a proposal reaches the House floor if that person opposes the idea. A Ukraine "report card" by Defending Democracy Together's "Republicans for Ukraine" campaign rated the leading candidates on the strength of their support for past Ukraine aid. Representative Tom Emmer, the House Republican whip, got the highest rating, an A. 2 House Republican, has long been favored to take over as speaker after McCarthy and received one notch lower, a B. McCarthy, who got a B-minus grade, early this week denied accusations by Gaetz that he had cut "a secret deal" with Biden to allow the House to vote on Ukraine aid.

Persons: Alexander Ermochenko, Kevin McCarthy's, McCarthy, Together's, Tom Emmer, Steve Scalise, Matt Gaetz, Gaetz, Jim Jordan, Byron Donalds, McCarthy's speakership, Biden, Joe Biden, Patricia Zengerle, Cynthia Osterman Organizations: REUTERS, Rights, U.S . House, The, Republicans, Republican, Thomson Locations: Nova, Russia, Ukraine, Hola, Kherson, Russian, U.S, Kyiv, United States

Republican Rep. Patrick McHenry, now the acting speaker, declared the House in recess until both parties can decide on a path forward. There is no obvious successor to lead the House Republican majority now that McCarthy has opted not to run for the job again. Immediately after the vote, McHenry, a close McCarthy ally, was named temporary speaker or speaker pro tempore. McCarthy turned over that private list to the House clerk in January when he was first elected speaker. Some members left the chamber Tuesday determined to renominate McCarthy and vote for him for speaker until it passes.

Persons: Kevin McCarthy, Matt Gaetz, McCarthy, Patrick McHenry, Here's, McHenry, Steve Scalise, Tom Emmer, Kevin Hern, Jim Jordan, Lisa Mascaro Organizations: WASHINGTON, Democrats, —, California Republican, Republican, North Carolina Republican, Committee, AP Locations: McHenry

☆ House votes to oust Kevin McCarthy as speaker, throwing the chamber back into chaos
▼ + stars: | 2023-10-03 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +9 min

The House voted to vacate the Office of the Speaker on Tuesday, booting Kevin McCarthy from his job. The House, under interim speaker Rep. Patrick McHenry of North Carolina, will now have to hold speaker elections once again, and it's not clear where that will lead. In 1910, House Speaker Joseph Cannon called the motion himself as he faced a mutiny from his own party, daring his own members to oust him. The Saturday measure, while supported by most House Republicans, ultimately passed with more Democratic than Republican votes. Gaetz and dozens of other House Republicans — potentially more than half — oppose sending more aid to the besieged country.

Persons: Kevin McCarthy, Matt Gaetz's, —, Matt Gaetz, McCarthy, Andy Biggs, Ken Buck, Tim Burchett, Eli Crane, Bob Good, Nancy Mace, Matt Rosendale, Republicans —, Patrick McHenry of, there's, What's, Hakeem Jeffries, Angie Craig of, hasn't, Saul Loeb, it's, Joseph Cannon, Newt Gingrich, John Boehner, Gaetz, Joe Biden, could've, McCarthy hasn't, they're, Abigail Spanberger, Spanberger, Jared Golden of, Who's, Tom Emmer, Jodey Arrington, Tom Cole of Oklahoma, Andy Ogles Organizations: Democrats, Service, Republicans, Democrat, Republican, Arizona Rep, Colorado Rep, Tennessee Rep, Florida Rep, Rep, South Carolina Rep, House Republicans, Democratic, Getty, —, Florida Republican, Texas Locations: Florida, Montana, Patrick McHenry of North Carolina, California's, Angie Craig of Minnesota, Ukraine, Virginia, Jared Golden of Maine, Minnesota, Tennessee

☆ Who leads the House now? The top Republicans who could be the next House speaker.
▼ + stars: | 2023-10-03 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +7 min

AdvertisementAdvertisementFor the first time in American history, House lawmakers have ejected the Speaker of the House from power. 3 House Republican and formerly led the House GOP's campaign arm. Donalds, who is not in House leadership, did not speak on the floor before the historic vote. She was catapulted into House leadership after Republicans booted then-Rep. Liz Cheney from her post as the N0. Once a more liberal Republican, Stefanik has become one of the biggest Trump supporters in the entire House Republican conference.

Persons: Kevin McCarthy, —, Matt Gaetz's, McCarthy, Tom Emmer, Steve Scalise, Elise Stefanik, Here's, Minnesota Republican Nathan Howard, Andy Biggs, Anna Moneymaker, Scalise, Byron Donalds Rep, Byron Donalds of, Michael M, Donalds, Ron DeSantis, Jim Jordan Rep, Jim Jordan, Drew Angerer, Jordan can't, Jordan, Joe Biden, Andrew Harnik, Donald Trump's, Liz Cheney, Donald Trump, Stefanik, Kevin McCarthy Kevin McCarthy Drew Angerer, he's, Gaetz, Trump, There's, Aaron Sorkin's Organizations: Service, Minnesota Republican, Getty, Republican, Politico, Caucus, Washington Post, GOP, Louisiana Republican, Congressional, Florida Republican, Florida, Gov, Ohio Republican, The Ohio Republican, New York Republican, Republicans, Trump, Capitol Locations: Minnesota, Louisiana, Byron Donalds of Florida, Ohio, Washington

CNN —Following Kevin McCarthy’s historic ouster as House speaker, names have started to emerge as possible successors to take over the gavel. Jordan replied “yes,” when asked if he is running for speaker and said he had just talked to House Majority Leader Steve Scalise, the No. Anna Moneymaker/Getty Images/FILELouisiana Rep. Steve Scalise, who serves as House majority leader, announced on Wednesday his intention to succeed McCarthy. As he exited a GOP meeting, he told reporters, “Steve Scalise has been a friend for a long time. Kevin HernRep. Kevin Hern leaves a meeting of the House Republican Conference at the Capitol Hill Club on Wednesday, July 26, 2023.

Persons: Kevin McCarthy’s, McCarthy, Tuesday’s, Jim Jordan Rep, Jim Jordan, Anna Moneymaker, Jim Jordan of Ohio, Jordan, “, Steve Scalise, Fani Willis, Attorney Alvin Bragg, Trump, Hunter Biden, ” Scalise, Scalise, ”, David Duke, Tom Emmer, Tom Williams, Emmer, “ Steve Scalise, Kevin Hern, ”, I’ve, ” Hern, Hern Organizations: CNN, GOP, Republican, Committee, Manhattan, Attorney, Justice Department, Freedom Caucus, Building, Congress, Ku Klux, House Republican Conference, Capitol, Minnesota Republican, Louisiana Rep, Minnesota, Financial Services, Capitol Hill Club, Oklahoma Republican, Caucus, McDonalds, Small Business Locations: Washington , DC, Benghazi, Trump, Fulton County, Louisiana, Alexandria , Virginia, New Orleans ’, Minnesota, Texas

☆ What’s Next as Kevin McCarthy Removed as Speaker? Key Takeaways
▼ + stars: | 2023-10-03 | by ( ) www.wsj.com time to read: 1 min

The House has taken the unprecedented step of removing Kevin McCarthy (R., Calif.) as speaker. Here are four takeaways from Tuesday’s momentous events:Who wants to be speaker? : It isn’t clear who will want to stand for speaker now that the job is vacant—and that includes McCarthy. Any candidate—whether it is Majority Leader Steve Scalise (R., La. But with Democrats running the White House and Senate, those demands are basically impossible to meet.

Persons: Kevin McCarthy, McCarthy, Steve Scalise, Tom Emmer, Matt Gaetz Organizations: Rep, White, Senate Locations: Calif, Minn, Fla

☆ US Aid to Ukraine May Hinge Partly on Who Takes Over as House Speaker
▼ + stars: | 2023-10-03 | by ( Oct. | At P.M. | ) www.usnews.com time to read: +2 min

Persons: Patricia Zengerle WASHINGTON, Kevin McCarthy's, McCarthy, Together's, Tom Emmer, Steve Scalise, Matt Gaetz, Gaetz, Jim Jordan, Byron Donalds, McCarthy's speakership, Biden, Joe Biden, Patricia Zengerle, Cynthia Osterman Organizations: U.S . House, The, Republicans, Republican Locations: U.S, Ukraine, Kyiv, United States

“I do intend to file a motion to vacate against Speaker McCarthy this week. But now, knowing full well he’s likely to soon face a so-called motion to vacate vote, McCarthy is taking his detractors head-on – and in increasingly combative terms. If the Senate bill advanced, McCarthy would have a harder time arguing his bill was the solution. 3 Senate Republican, opposed the Senate bill, breaking with McConnell, according to a source familiar with the matter. But that wasn’t enough to convince House Democrats to oppose the funding bill with a shutdown looming.

Persons: Kevin McCarthy didn’t, Bryan Steil, Steil, Mike Lawler, Marc Molinaro, Nick LaLota –, McCarthy, ”, Matt Gaetz, CNN’s Jake Tapper, “, ” Gaetz, McCarthy’s, it’s, ” McCarthy, –, Gaetz, Kevin McCarthy, Tom Cole, Tom Emmer, wouldn’t, chomping, ” Steil, Steve Womack, Ralph Norman of, “ I’m, Norman, “ We’ve, Andy Biggs, ” Biggs, Kevin, Don Bacon, Sen, Markwayne Mullin, Mullin, John Thune, Mitch McConnell, McCarthy chatted, Thune, John Barrasso of, McConnell, Hakeem Jeffries, ’, Democratic appropriators, Jamaal Bowman, Democrats ’, Mike Quigley, Congressional Ukraine Caucus –, Putin, ” Quigley, Shuwanza Goff, Steve Ricchetti, Michael Bennet of Colorado, Joe Biden’s, Biden Organizations: CNN, Republican, GOP, Rep, Wisconsin Republican, New York Republicans, Democratic, Florida, Union ”, Democrats, House Democrats, Republicans, Leadership, Border Patrol, Arkansas GOP, Arizona Republican, Nebraska Republican, Senate, White, Ukraine, Cannon, New York Democrat, House, Congressional Ukraine Caucus Locations: ”, Wisconsin, “ State, Ukraine, Arkansas, Ralph Norman of South Carolina, Arizona, Nebraska, Oklahoma, Thune, John Barrasso of Wyoming

The Democrat told CNN there’s been internal discussions about a wide range of potential asks – from power-sharing agreements to policy ideas. I’m talking about like, the furthest left most progressive Democrats to moderates,” the House Democrat told CNN. But McCarthy’s critics aren’t the only ones privately courting House Democrats to play for their team in the ongoing speaker drama. On Friday, House Democratic Leader Hakeem Jeffries remained non-committal about how he would handle a potential vote to oust McCarthy. So timing is important,” Rep. Pramila Jayapal, the co-chair of the Congressional Progressive Caucus, told CNN.

Persons: Matt Gaetz, Kevin McCarthy’s speakership, ” Gaetz, Tom Cole of, Tom Emmer, McCarthy, CNN there’s, “, he’s, I’m, ”, Gaetz, it’s, Brian Fitzpatrick, McCarthy’s, Hakeem Jeffries, Matt, Pramila Jayapal, I’ve, – Organizations: CNN, Republican, Democratic, Democrat, GOP, House Democrat, Democrats, – House Democrats, ”, Congressional Progressive Caucus, White Locations: Minnesota

CNN —House Republicans are still struggling to reach consensus on a plan to fund the government, with lawmakers going back-and-forth over the issue and leadership forced to delay a planned procedural vote as they work to find agreement within their ranks. House GOP leaders canceled a procedural rule vote on the proposal originally slated for Tuesday morning amid that opposition from hardliners. Amid the impasse in the House GOP conference, there are discussions underway among some Republicans and Democrats about teaming up on a so-called discharge petition to fund the government if the House Republican-brokered plan fails on the floor this week. Five Republicans – most of them from the right flank House Freedom Caucus – voted against the rule, denying House GOP leadership of the 218 votes it needed for passage. Chip Somodevilla/Getty ImagesRep. Ralph Norman, a South Carolina Republican, said he thinks they should work through the weekend until they are able to find agreement among House Republicans on how to keep the government open.

Persons: ”, Nancy Mace, Tom Emmer –, Kevin Hern, Hern, Hakeem Jeffries, Republicans –, Caucus –, McCarthy, Kevin McCarthy, Scott Perry, Bob Good, Virginia, Byron Donalds, Chip Somodevilla, Ralph Norman, Chip Roy, ” Roy, “, haven’t, Roy, ” Donalds, Perry, ” Perry, Matt Gaetz, Norman, Andy Ogles, Dan Bishop of, Andy Biggs of, Tim Burchett, Anna Paulina Luna of, Marjorie Taylor Greene, Matt Rosendale, Victoria Spartz, Eli Crane of, Cory Mills, Wesley Hunt, Wesley Hunt of Texas, Paul Gosar, Burchett, Bishop, Norman –, Ken Buck, Tom Cole of, Cole, ” Cole, “ That’s Organizations: CNN — House Republicans, GOP, Democratic, South Carolina Republican, Republican, “, CNN, Democrats, Politico, House Republicans, Department of Defense, Republicans, Caucus, Freedom Caucus, House Republican, Capitol, Getty, Texas Republican, Florida GOP Rep, Senate, ’, Defense, Ken Buck of Colorado . Locations: Pennsylvania, Florida, Washington ,, Texas, Tennessee, Dan Bishop of North Carolina, Andy Biggs of Arizona, Anna Paulina Luna of Florida, Marjorie Taylor Greene of Georgia, Matt Rosendale of Montana, Victoria, Victoria Spartz of Indiana, Eli Crane of Arizona, Cory Mills of Florida, Wesley Hunt of, Paul Gosar of Arizona, “, Biggs, Rosendale, Ken Buck of Colorado

CompaniesLaw Firms Ripple Labs Inc FollowCoinbase Global Inc FollowJuly 13 (Reuters) - Ripple Labs Inc did not violate federal securities law by selling its XRP token on public exchanges, a U.S. judge ruled on Thursday, a landmark legal victory for the cryptocurrency industry that sent the value of XRP soaring. An SEC spokesperson said the agency was pleased with part of the ruling in which the judge held that Ripple violated federal securities law by selling XRP directly to sophisticated investors. XRP sales on cryptocurrency platforms by Garlinghouse and co-founder and former CEO Chris Larsen, and other distributions including compensation to employees also did not involve securities, Torres ruled. PARTIAL WIN FOR THE SECThe SEC won a partial victory as Torres found the company's $728.9 million of XRP sales to hedge funds and other sophisticated buyers amounted to unregistered sales of securities. Both the Ripple and Coinbase cases focus on registration requirements and whether certain digital assets are securities under U.S. law.

Persons: XRP, Analisa Torres, Brad Garlinghouse, We’ve, Torres, Paul Grewal, Chris Larsen, Garlinghouse, Larsen, Gary DeWaal, Rosenman, Tom Emmer, Jody Godoy, Chris Prentice, Tom Hals, Chizu Nomiyama, Conor Humphries, Leslie Adler, David Gregorio Our Organizations: Labs, Ripple Labs, U.S, District, U.S . Securities, Exchange Commission, SEC, Twitter, Supreme, WIN FOR, Republican, Thomson Locations: U.S, XRP, Katten, New York, Wilmington , Delaware

☆ See How the G.O.P. Has Reacted to the Trump Indictment
▼ + stars: | 2023-06-16 | by ( Karen Yourish | Charlie Smart | ) www.nytimes.com time to read: +10 min

Less conservative HOUSE MORE conservative Kevin Calvert Calif. 41st George Santos N.Y. 3rd Less conservative SENATE MORE conservative Roger Wicker Miss. Less conservative HOUSE MORE conservative Kevin Calvert Calif. 41st George Santos N.Y. 3rd Less conservative SENATE MORE conservative Roger Wicker Miss. Less conservative HOUSE MORE conservative Paul Gosar Ariz. 9th Less conservative SENATE MORE conservative Josh Hawley Mo. Less conservative HOUSE MORE conservative Paul Gosar Ariz. 9th Less conservative SENATE MORE conservative Josh Hawley Mo. SEN. HOUSE MORE conservative Less conservative HOUSE MORE conservative Less conservative SENATE MORE conservative Less conservative HOUSE MORE conservative Less conservative SENATE MORE conservative Less conservative HOUSE MORE conservative Less conservative SENATE MORE conservative SEN. HOUSE MORE conservative According to an analysis by The New York Times, a small number of Republicans have made statements about the indictment that did not immediately dismiss the investigation.

Persons: Donald J, Biden, Trump, Brian Fitzpatrick Pa, Ken Buck Colo, Romney, Romney Utah SEN, Doug LaMalfa Calif, Mike Kelly Pa, Ted Budd N.C, Kevin Calvert Calif, George Santos N.Y, Roger Wicker Miss, SEN, Lauren Boebert Colo, Tom Emmer Minn, Ted Cruz Texas, Ted Cruz Texas SEN, HOUSE Lauren Boebert Colo, Byron Donalds, Eli Crane Ariz ., Ron Johnson Wis, HOUSE, HOUSE Byron Donalds, Paul Gosar Ariz, Josh Hawley Mo, “, ”, Don Bacon of Nebraska, Hillary Clinton, Joe Biden, Kevin McCarthy, —, Daniel Webster, Donald Trump, Steve Scalise, Diana Harshbarger, Mike Lee, Jack Smith, General Merrick Garland, Garland, Biden’s, Hunter, Trump’s Organizations: Senate, MORE, SEN, HOUSE Byron, The New York Times, ”, Justice Department, Biden’s Department of Justice, DOJ, Twitter, The, Department, White Locations: United States, Ken Buck Colo ., Romney Utah, Byron Donalds Fla, SEN, HOUSE Byron Donalds Fla, Florida, Tennessee, Venezuela, Bolivia, Nicaragua, America, Utah

☆ 'Livid' US House conservatives poised for next battle with McCarthy
▼ + stars: | 2023-06-12 | by ( David Morgan | ) www.reuters.com time to read: +3 min

[1/2] U.S. House Speaker Kevin McCarthy (R-CA) speaks to reporters on Capitol Hill in Washington, U.S., June 8, 2023. The House is scheduled this week to consider Republican messaging bills that were delayed by the standoff. McCarthy can afford to lose no more than four Republican votes on any measure that faces uniform opposition from Democrats. Norman and other conservatives want 12 appropriations bills that Congress will try to pass in coming months to contain deeper spending cuts included in a Republican debt ceiling bill that passed the House in April. But moderate Republicans warned that hardball tactics could backfire on conservatives if party infighting forces Republican leaders to rely on Democratic votes to move critical legislation.

Persons: Kevin McCarthy, Amanda Andrade, Rhoades, Ralph Norman, McCarthy, We'll, Tom Emmer, Joe Biden, Norman, Don Bacon, David Morgan, Mary Milliken, Paul Simao Organizations: ., Capitol, REUTERS, U.S . House, Freedom Caucus, Reuters, Republicans, Republican, Democrats, Democratic, Thomson Locations: Washington , U.S, WASHINGTON, Washington

WASHINGTON, April 26 (Reuters) - The U.S. House of Representatives will vote on a Republican bill to raise the U.S. government's $31.4 trillion debt ceiling and slash spending on Wednesday, after days of negotiations to win the support of reluctant Republican lawmakers. A procedural vote to allow debate on the bill passed in a 219-210 party-line vote earlier on Wednesday. Republican critics including hardline House Freedom Caucus Chairman Scott Perry and Representative Nancy Mace said they had dropped their opposition to the bill. Bending to the far-right wing of the party, Republicans also accelerated some new, tougher work requirements for receiving Medicaid healthcare benefits for the poor. House Republicans are offering to increase Washington's borrowing authority by $1.5 trillion or until March 31, whichever comes first.

Hard-right Republicans Chip Roy, Thomas Massie and Ralph Norman huddled in a Capitol hallway during a lengthy Rules Committee recess. The House could still try for passage on Wednesday if the Rules Committee votes to advance it. McCarthy and other House Republican leaders were working to shore up support for the bill that would raise the current $31.4 trillion limit on Washington's borrowing authority. It could be difficult for Congress to raise the debt ceiling before then if House Republicans are unable to unite behind a proposal, analysts say. Treasury Secretary Janet Yellen warned on Tuesday that a failure to raise the debt ceiling would trigger a "financial catastrophe" that would sharply raise the cost of borrowing money.

☆ GOP debt ceiling bill faces its first test as analysts warn U.S. faces default risk as early as June
▼ + stars: | 2023-04-25 | by ( Christina Wilkie | In | ) www.cnbc.com time to read: +4 min

Speaker of the House Kevin McCarthy, R-Calif., walks out with House Republicans to speak about the passage of H.R. Goldman Sachs analysts wrote that their "base case remains for the debt limit deadline to fall in late July," as long as tax receipts only fall by 30%. This is the projected date the Treasury Department will exhaust the emergency measures it is taking to prevent a federal debt default. Instead, it is intended to serve as McCarthy's opening salvo in his looming negotiation with Biden over the debt limit and federal spending. Over the weekend, Emmer said that while the final bill might not be perfect, the alternative for a Republican House member would be worse.

McCarthy told reporters in the U.S. Capitol. Biden said Congress must raise the debt ceiling without conditions, as it did three times under Republican President Donald Trump. It could be difficult for Congress to raise the debt ceiling before then if House Republicans are unable to unite behind a proposal, analysts say. Treasury Secretary Janet Yellen warned on Tuesday that a failure to raise the debt ceiling would trigger a "financial catastrophe" that would sharply raise the cost of borrowing money. Manhattan Institute senior fellow Brian Riedl gives House Republicans a 50-50 chance of passing the legislation this week.

☆ Majority Whip Rep. Emmer on debt ceiling deal: We have to get this done for the American people
▼ + stars: | 2023-04-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMajority Whip Rep. Emmer on debt ceiling deal: We have to get this done for the American peopleMajority Whip Rep. Tom Emmer (R-MN.) joins 'Squawk Box' to discuss the latest on debt limit negotiations, the upcoming U.S. House vote on the GOP debt limit bill this week, and more.

Failure to raise the debt ceiling would lead to default that would shake the U.S. and world economies. McCarthy said the package would lower spending by $4.5 trillion over the coming 10 years. Biden reiterated his position that Congress should raise the $31.4 trillion debt limit without conditions, as it did three times under his Republican predecessor, Donald Trump. POTENTIAL CONSEQUENCESThe nonpartisan Committee for a Responsible Federal Budget praised McCarthy's plan as a "realistic and extremely welcome first step." A lengthy 2011 standoff over the debt ceiling led to a first-ever downgrade of the federal government's credit rating, which rattled markets and raised borrowing costs.

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