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Biden bemoaned the House is in such dysfunction and chaos, with the majority party having successfully booted its own elected speaker for the first time in history. And he said "it does worry me" that Ukraine funding might be in peril. But "I know there are a majority of members of the House and Senate in both parties who have said they support funding Ukraine," Biden told reporters at the White House. The idea that I was somehow going to convince McCarthy to change his mind was not reasonable," Biden said. Democrats and Republicans who back Ukraine aid hope to put aid in the funding bill due next month.

Persons: Joe Biden, Biden, Kevin McCarthy, McCarthy, Patrick McHenry, Biden –, –, reneging, I'm, McCarthy – Organizations: Republicans, GOP, California Republican, Senate, White, TV, Patrick McHenry , North Carolina Republican, Democrats, Ukraine Locations: Ukraine, Russia, United States, America, California, Patrick McHenry , North, Washington

WASHINGTON (AP) — Lawmakers who had been sitting in stunned silence gasped at the declaration: The office of speaker “is hereby declared vacant. ”For the first time ever, a House speaker had been voted out of the position, plunging Congress into a new degree of turmoil. “Chaos is Speaker McCarthy,” Gaetz said on the floor, suggesting a series of reforms could make Washington work better. “Shocking … just the finality of it," said Rep. Michael McCaul, a Texas Republican who chairs the House Foreign Relations Committee. Republicans will try to coalesce around a new leader after McCarthy ruled out another bid to become speaker.

Persons: gasped, “, Kevin McCarthy, Brian Fitzpatrick, McCarthy, ” McCarthy, Donald Trump, Hakeem Jeffries, “ Kevin McCarthy, ”, Jamie Raskin, Matt Gaetz, ” Gaetz, Republicans —, —, Patrick McHenry of, Michael McCaul, Republicans seething, Abraham Lincoln, Teddy Roosevelt, Democrats —, Mary Claire Jalonick, Farnoush Amiri, Lisa Mascaro, Kevin Freking Organizations: WASHINGTON, — Lawmakers, California Republican, Lawmakers, Republican Party, Republicans, ”, Pennsylvania Republican, Capitol, Democratic, Republican, Texas Republican, Foreign Relations, —, Democrats, Associated Press Locations: California, United States, Washington, Pennsylvania, “ Ukraine, Russia, Maryland, Patrick McHenry of North Carolina, Texas, Gaetz

The House narrowly voted to oust Kevin McCarthy on Tuesday, dooming the House speaker to a fate that seemed almost guaranteed since he took the gavel in January, with a group of rebels in his conference nipping at his heels. “The office of speaker of the House of the United States House of Representatives is hereby declared vacant,” the clerk announced as the vote concluded. A temporary speaker – Rep. Patrick McHenry of North Carolina – is expected to take over based upon a list of succession that McCarthy submitted in January, according to House rules . But in 2015, McCarthy’s speaker bid abruptly ended amid pushback from right-wing lawmakers who have long seen him as insufficiently conservative. I’m the 55th speaker of the House.”Without McCarthy at the helm, the House is expected to soon vote to elect another speaker.

Persons: Kevin McCarthy, McCarthy, Patrick McHenry of, Patrick McHenry of North Carolina –, McHenry, ”, McCarthy’s speakership, Washington ”, “, Andy Biggs, Ken Buck, Tom Burchett, Eli Crane, Matt Gaetz, Bob Good, Nancy Mace, Matt Rosendale, Gaetz, motioned, it’s, ” Gaetz, ” McCarthy, ” McCarthy’s, McCarthy’s, Hakeem Jeffries Organizations: United States House, Democrats, Washington, Bakersfield, Republicans – Rep, GOP, Republican, California Republican, Florida Republican, Democratic, House Republican Locations: Patrick McHenry of North Carolina, California, –

☆ Republicans have temporarily played themselves out of the presidential line of succession after McCarthy's historic ouster
▼ + stars: | 2023-10-03 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +4 min

House Republicans have temporarily forced themselves out of the presidential line of succession. As a result, House Republicans for the time being would be skipped over entirely. Never before in history has the line of succession gone past the vice president, meaning most of this discussion is purely academic. Still, House Republicans are currently risking what they would be rightfully entitled to thanks to their slim majority following the 2022 midterm elections. Many legal scholars have long had issues with the Truman-era law governing presidential succession.

Persons: Kevin McCarthy's, —, Kevin McCarthy, Patrick McHenry of, McHenry, tempore, He's, he's, Brian Kalt, Patty Murray, Joe Biden, Kamala Harris, Democratic Sen, Antony Blinken, Sen, Dianne Feinstein, Feinstein, Kalt, McCarthy, Madeline Albright, Clinton, Biden, Harris, Murray, Truman Organizations: Republicans, Service, Michigan State University, Democratic, Pro Tempore, House Republicans Locations: Patrick McHenry of North Carolina, 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

☆ Here are the 8 House Republicans who voted to oust McCarthy as House speaker
▼ + stars: | 2023-10-03 | by ( Piper Hudspeth Blackburn | ) edition.cnn.com time to read: 1 min

CNN —A group of eight House Republicans joined with Democrats Tuesday in a historic vote to remove Republican Rep. Kevin McCarthy as speaker. The vote in the House of Representatives on the motion to vacate was 216-210, with Florida Rep. Matt Gaetz leading the effort. Because of the GOP’s razor-thin majority in the House and a Democratic conference united against him, McCarthy needed the support of nearly all of his party’s members to keep the gavel. It was not immediately clear who would replace the California Republican, and GOP Rep. Patrick McHenry of North Carolina was named speaker in the interim. Here are the House Republicans who voted to oust McCarthy:

Persons: Kevin McCarthy, Matt Gaetz, McCarthy, Patrick McHenry of Organizations: CNN, Republicans, Democrats, Republican, Florida Rep, Democratic, California Republican, GOP, House Republicans Locations: Patrick McHenry of North Carolina

☆ Pelosi says interim House speaker McHenry has ordered her to vacate her office in the Capitol building
▼ + stars: | 2023-10-03 | by ( Haley Talbot | ) edition.cnn.com time to read: +2 min

CNN —Former House Speaker Nancy Pelosi on Tuesday said the newly named interim speaker, GOP Rep. Patrick McHenry of North Carolina, has ordered her to vacate her office in the Capitol building. She does maintain her regular office in the Cannon House office building. An email sent from McHenry’s office to Pelosi’s office just after 6 p.m. Tuesday evening that was viewed by CNN, stated, “Going to reassign h-132 for speaker office use. As speaker pro tempore, McHenry’s official title, the congressman will preside over the vote and selection of the House’s next speaker, with the ability to recess the chamber, adjourn it and recognize speaker nominations. Kevin McCarthy as speaker was required to submit a confidential list to the clerk of people “in the order in which each shall act as Speaker pro tempore in the case of a vacancy,” according to House rules.

Persons: Nancy Pelosi, Patrick McHenry of, “, ” Pelosi, Pro Tempore, Dianne Feinstein, ” Feinstein, Pelosi, Hastert, ”, McHenry’s, Kevin McCarthy, McHenry, McCarthy Organizations: CNN, Former, Pro, California Democrat, Senate, San Francisco City Hall, Republican Leadership Locations: Patrick McHenry of North Carolina, Cannon, Washington ,, California, McHenry

☆ Congress just voted to oust Rep. Kevin McCarthy as House speaker for the first time in history
▼ + stars: | 2023-10-03 | by ( Sean Conlon | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCongress just voted to oust Rep. Kevin McCarthy as House speaker for the first time in historyCongress just voted to oust Rep. Kevin McCarthy as House speaker, which is the first time in history that the chamber has removed its leader. Republican Rep. Patrick McHenry of North Carolina was appointed to lead the House of Representatives as speaker pro tempore. McHenry, a McCarthy ally, declared the House in recess following the vote.

Persons: Kevin McCarthy, Patrick McHenry of, McHenry, McCarthy Organizations: Republican Locations: Patrick McHenry of North Carolina

☆ Kevin McCarthy won't run for speaker again after unprecedented ouster
▼ + stars: | 2023-10-03 | by ( Erin Snodgrass | Brent D. Griffiths | ) www.businessinsider.com time to read: +2 min

Rep. Kevin McCarthy said he would not run for House speaker again in televised remarks on Tuesday. The House voted to oust McCarthy on Tuesday after he worked with Democrats to pass a spending bill. AdvertisementAdvertisementRep. Kevin McCarthy will not run for Speaker of the House of Representatives after his historic ouster from the role. "I'm not going to sell my soul to Democrats," McCarthy said in the meeting, per Sherman. The move left the chamber without an elected Speaker of the House but with Rep. Patrick McHenry named as the temporary leader.

Persons: Kevin McCarthy, McCarthy, —, Matt Gaetz's, Olivia Beavers, Jake Sherman, I'm, Sherman, Patrick McHenry Organizations: Service, California Republican, Punchbowl News, Republicans Locations: California

☆ 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

☆ Explainer: What are the next steps as US House searches for new speaker?
▼ + stars: | 2023-10-03 | by ( ) www.reuters.com time to read: +4 min

Here is a look at what comes next:IS THERE AN ACTING SPEAKER? Immediately following Tuesday's 216-210 ouster vote, Republican Representative Patrick McHenry, a McCarthy ally, was appointed acting speaker pro tempore. The acting speaker pro tempore's duties are vague, according to a guide to the chamber's rules and procedures: That person "may exercise such authorities of the office of speaker as may be necessary and appropriate pending the election of a speaker or speaker pro tempore." WHAT ARE HOUSE REPUBLICANS, DEMOCRATS DOING? Under the U.S. Constitution, the House speaker does not have to be a member of Congress.

Persons: Kevin McCarthy, McCarthy's, Jonathan Ernst, Patrick McHenry, McCarthy, Kelly Armstrong, McHenry, Matt Gaetz, Hakeem Jeffries, Donald Trump, Richard Cowan, Scott Malone, Cynthia Osterman Organizations: U.S, Capitol, REUTERS, Rights, U.S . House, Republican, REPUBLICANS, Republicans, WHO, Constitution, Thomson Locations: Washington , U.S

☆ Hardline shutdown push of the few frustrates US House Republicans
▼ + stars: | 2023-09-28 | by ( David Morgan | ) www.reuters.com time to read: +5 min

Facing pressure from his right flank, McCarthy is pursuing a partisan Republican CR that would cut current government funding levels and contain provisions on security and immigration at the U.S. border with Mexico. Those proposals are unlikely to win the Democratic support they would need to pass the Senate, or to be signed by Biden. HARDLINE HOLDOUTSBut Republican hardliners, including members of the House Freedom Caucus and allies of former President Donald Trump, are resisting even McCarthy's partisan plan. The record-setting, 34-day 2018 shutdown came weeks after Republicans lost their House majority during Trump's term. "They're talking to a small portion of America," said Republican Representative Darrell Issa.

Persons: Mitch McConnell, Mary F, Kevin McCarthy's, Patrick McHenry, Joe Biden, McCarthy, Biden, Donald Trump, Matt Rosendale, Andy Biggs, Biggs, Matt Gaetz, Eli Crane, Representative Dan Bishop, Darrell Issa, Don Bacon, They're, David Morgan, Scott Malone, Timothy Gardner Organizations: U.S, Capitol, REUTERS, Rights, Republicans, U.S . House, Democratic, Senate, Reuters, The North Carolina Republican, Wall, Republican, HOLDOUTS, Caucus, Twitter, Freedom Caucus, Trump, Washington Democrats, Representative, Thomson Locations: Washington , U.S, U.S, The, Mexico, North Carolina, America

McCarthy, though, has stopped short of committing to putting a Senate-passed short-term spending bill on the floor, knowing that doing so could mean a call for his ouster. During a call with the Republican conference Saturday afternoon, McCarthy pushed members to rally around a short-term spending bill that includes funds for border security. That would give House Republicans a position from which to begin negotiations with the Senate. It’s taking away leverage from House Republicans,” said GOP Rep. Garret Graves of Louisiana. But House Republicans marked their bills up at far lower levels after a rebellion from conservatives.

Persons: Kevin McCarthy, McCarthy, ”, Patrick McHenry of, McCarthy’s, ” McCarthy, He’s, Donald Trump, “ Don’t, Andy Biggs, Chuck Schumer, “, Kevin, I’m, Sen, Joe Manchin, I’ve, Chip Roy, It’s, Garret Graves, haven’t, ” Roy, Marc Molinaro, “ I’m, ” Molinaro, Schumer, eying, Mitch McConnell, McConnell, ” Schumer, CNN’s Manu Raju, McHenry, Mike Lawler, Republicans don’t, ” Lawler, Brian Fitzpatrick, Josh Gottheimer Organizations: CNN, Republican, Republicans, Democratic, Senate, Truth, Department of Justice, ” Republican, GOP, Defense, Agriculture, Homeland Security, House Republicans, Saturday, ”, “, House, Biden Locations: Patrick McHenry of North Carolina, Arizona, Ukraine, West Virginia, Texas, State, Garret Graves of Louisiana, New York

Instead, he has acceded to a small band led by those instigating his ouster, even if that means closing federal offices. All the while, McCarthy has retreated from his budget deal with Biden months ago that established the spending threshold for the year. Democrats have been eager to lay blame for the impending shutdown on McCarthy and the dysfunction in the House. Biden has called on McCarthy to stick to the annual spending numbers they negotiated to raise the nation’s borrowing limit. He argues that House Republicans need to pass their own bills at the lower numbers to to strengthen their hand in negotiations.

Persons: —, Kevin McCarthy, McCarthy, “, John Boehner of Ohio, Paul Ryan of, Joe Biden, Matt Gaetz, crowed, Gaetz, Biden, Jim McGovern, Rosa DeLauro, Democrat appropriator, Patrick McHenry of, McCarthy's, it’s, ”, Steve Womack, Kevin Freking Organizations: WASHINGTON, ., GOP, Capitol, California Republican, Coast Guard, Biden, Connecticut, Democrat, Senate, Republican, Republicans, Democratic, U.S . Senate, Arkansas, Associated Press Locations: Washington, California, Paul Ryan of Wisconsin, Patrick McHenry of North Carolina, Ukraine

☆ US shutdown looms: Top House Republican Kevin McCarthy faces crucial test
▼ + stars: | 2023-09-18 | by ( David Morgan | ) www.reuters.com time to read: +6 min

U.S. House Speaker Kevin McCarthy (R-CA) addresses the 5th annual Congressional Hackathon on Capitol Hill in Washington, U.S., September 14, 2023. But hardline activism on spending, policy and impeachment have split Republicans in the House and slowed the Senate's path forward on approving bipartisan spending legislation. House Democratic leader Hakeem Jeffries warned on Sunday that the situation amounts to a Republican "civil war." Unless the House can move forward on spending, Republican leaders say privately that they could be forced to move directly into negotiations with Senate Democrats on appropriations bills, circumventing hardliners. Other House Republicans fear that McCarthy's decision to open an impeachment inquiry of Biden could make it harder to gain cooperation on spending from Democrats.

Persons: Kevin McCarthy, Evelyn Hockstein, Joe Biden, brinkmanship, Fitch, Hakeem Jeffries, Tommy Tuberville, McCarthy, Biden, who's, Chip Roy, Patrick McHenry, Ralph Norman, Ken Buck, David Morgan, Richard Cowan, Scott Malone, Sandra Maler Organizations: REUTERS, Rights, ., Republican, U.S . Congress, Democratic, Senate, AAA, California Republican, Fox News, Department of Defense, House Republicans, White, Defense Department, Department of Veterans Affairs, Caucus, Moderate, Biden, Republicans, Washington Post, Thomson Locations: Washington , U.S, California

WASHINGTON (AP) — The Biden administration plans to increase scrutiny of the investment plans of foreign-owned companies operating in the United States. “National security is a foremost priority, and we deploy a wide range of tools to safeguard it,” Treasury Secretary Janet Yellen said Thursday. The federal government reviews and can block business activity of non-U.S. companies through the Committee on Foreign Investment in the United States, also known as CFIUS. At a conference dedicated to the committee, Yellen emphasized that CFIUS is adapting to a changing global economy as national security issues related to China are a primary consideration. “As new threats and vulnerabilities emerge, our national security priorities shift in response,” Yellen said.

Persons: —, Biden, Janet Yellen, Yellen, ” Yellen, “ We've, ByteDance, LIV, Paul Rosen, ” Rosen, Joe Biden, Donald Trump, ”, Patrick McHenry Organizations: WASHINGTON, Foreign Investment, State, Justice, Energy, Commerce, Twitter, PGA, U.S, Washington, Financial Locations: United States, U.S, China, Beijing, R

Shannon Brandt, of Glenfield, North Dakota, pleaded guilty in May to manslaughter in connection with Cayler Ellingson's death in September 2022, in McHenry, North Dakota. Brandt initially claimed he ran Ellingson over after a political argument and that the teen had threatened him and was part of a radical group, according to court documents. Political Cartoons View All 1148 ImagesHe was initially charged with criminal vehicular homicide, which was later dropped. Brandt had also been charged with leaving the scene of the fatality, since dismissed in a plea deal. Brandt called 911 and told a dispatcher he had hit a man with his vehicle and requested an ambulance, according to the court document.

Persons: Donald Trump, ”, Shannon Brandt, Cayler, Brandt, Trump, Ellingson, Kara Brinster, “, Brinster, Mark Friese, It's, Friese Organizations: N.D, Republican, Associated Press Locations: BISMARCK, North Dakota, Glenfield , North Dakota, McHenry , North Dakota, Glenfield

REUTERS/Fabrizio Bensch/File Photo Acquire Licensing RightsWASHINGTON, Aug 21 (Reuters) - PayPal's (PYPL.O) stablecoin is likely to succeed where Facebook's failed, thanks to the payment giant's standing in Washington and policymakers' greater understanding of the issues in the last three years. "From a policy perspective, there is a seismic difference between Facebook's Libra and PayPal's stablecoin," said Isaac Boltansky, director of policy research for brokerage BTIG. Dan Dolev, a senior analyst at Mizuho, said PayPal USD is not a game-changer for PayPal investors. When Facebook unveiled Libra, a stablecoin whose operations were based in Switzerland and which was pegged to a basket of currencies, executives made no secret of their ambitions. Facebook rebranded Libra, scaled it back and moved the project to the United States, in a bid to win U.S. regulatory approval.

Persons: Fabrizio Bensch, stablecoin, Facebook's, Christopher Giancarlo, PayPal's, Isaac Boltansky, Dan Schulman, Dan Dolev, Maxine Waters, Joe Biden's, Janet Yellen, Yellen, TerraUSD, stablecoins, There's, Jack Fletcher, Patrick McHenry, Hannah Lang, Andrea Shalal, Pete Schroeder, Niket, Michelle Price, Matthew Lewis Organizations: PayPal, REUTERS, Rights, U.S ., Facebook, U.S . Commodity Futures Trading Commission, Federal Reserve, Meta, Paxos Trust, New York State Department of Financial Services, Mizuho, Financial Services, Treasury, Congress, prudential, Republican, Thomson Locations: Berlin, Germany, Washington, U.S, Switzerland, United States, transact, stablecoins, Bengaluru

Da Ponte denied a Bloomberg report that the payments processor paused development of its stablecoin in February. But da Ponte argues this troubled backdrop is exactly why PayPal is poised to succeed. Then there's the hypothetical digital dollar that would be the Fed's take on a central bank digital currency, or CBDC. "We have a large base of consumers; we have a large base of merchants," da Ponte said of PayPal's "two-sided network." Da Ponte sees PayPal's more than 20-year tenure in the payments space as one of the company's chief advantages in the stablecoin market.

Persons: Jose Fernandez da Ponte, PayPal's, Da Ponte, Paxos, it's, Ponte, stablecoins, Nic Carter, Stablecoins, Carter, Andy Bromberg, Andreessen Horowitz, Bromberg, PYUSD, Jeremy Allaire, Allaire, Patrick McHenry, McHenry Organizations: PayPal, CNBC, Bloomberg, SEC, New, Regulators, Valley Bank, U.S ., U.S, Castle, Ventures, Companies, Eco, Coinbase Ventures, Paypal, Facebook, Financial Services, America Locations: U.S, New York, Bromberg, web3, United States, R, DexTools

☆ Congress hands the crypto industry two wins and a loss before August recess
▼ + stars: | 2023-07-28 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

The House Financial Services Committee advanced a measure Thursday to establish a clear regulatory framework for the issuance of payment stablecoins. The bills' approvals, after a roughly 14-month debate between committee Republicans and Democrats, can be viewed as wins for the crypto industry, whose reputation on Capitol Hill was battered by the failure of crypto giant FTX last fall. Late Thursday night, the Senate passed a massive defense funding bill that included several measures from different bills the digital-assets industry has opposed. Warren also highlighted the National Defense Authorization Act rider this week by reintroducing her bill, the Digital Asset Anti-Money Laundering Act. The House crypto bills would likely garner enough support to pass in the Republican-controlled House, but struggle to gain traction in the Democratic-controlled Senate

Persons: Elizabeth Warren, Patrick McHenry, Jim Himes, Josh Gottheimer, Crypto, Sen, Warren, Democratic Sen, Joe Manchin, Roger Marshall of, Lindsey Graham of Organizations: Banking, Housing, Urban Affairs Committee, WASHINGTON — Lawmakers, Capitol, Financial Services Committee, Financial Services, Connecticut, Republicans, Democrats, Treasury Department, Treasury, Defense, Money, Democratic, Senate, Republican Locations: Massachusetts, Washington , DC, R, New Jersey, crypto's, Roger Marshall of Kansas, Lindsey Graham of South Carolina

The crypto industry has been in the regulatory crosshairs since investors were burned last year by sudden collapses of Celsius Network, Voyager Digital, FTX and other companies. A handful of Democrats, including Reps. Jim Himes and Ritchie Torres, joined committee Republicans in voting for the bill. The bill has galvanized many in the crypto industry, who say that with Democrats' support, the bill could have a shot in the Senate. But some Democrats, including Representative Maxine Waters, the top Democrat on the Financial Services committee, fiercely oppose the bill. "This bill heeds the calls from the crypto industry while disregarding the views of the administration, the Securities and Exchange Commission and consumer and investor advocates," she said.

Persons: Jim Himes, Ritchie Torres, Patrick McHenry, we've, Kristin Smith, Miller Whitehouse, Levine, Maxine Waters, Waters, Sherrod Brown, Hannah Lang, Matthew Lewis, Mark Porter, Diane Craft Organizations: Capitol, Voyager, House Financial, Trading, Securities, Exchange, Republicans, Agriculture, Financial Services, Blockchain Association, DeFi, Securities and Exchange Commission, Democratic, Banking, SEC, Politico, Thomson Locations: Singapore, Australia, United States, McHenry, Washington

But Representative Patrick McHenry, the chair of the committee, said on Thursday at the outset of a hearing that he had not reached a deal with Representative Maxine Waters, the committee's top Democrat. "We had high hopes 48 hours ago that we were going to come to a conclusion and then the White House reviewed where we were and disagreed," said McHenry. The stalemate comes just a day after the committee advanced a bipartisan bill that aims to develop a regulatory framework for cryptocurrencies and clarify when a token is a security or a commodity. A handful of House Democrats, including Jim Himes and Ritchie Torres, joined committee Republicans in voting for that bill, which is also being considered by the House Agriculture Committee on Thursday. Reporting by Hannah Lang in Washington; Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

Persons: Patrick McHenry, Maxine Waters, McHenry, Jim Himes, Ritchie Torres, Hannah Lang, Bill Berkrot Organizations: Republican, Democrat, U.S . House Financial, ., U.S . Federal, White House, Democrats, Republicans, House, Thomson Locations: Washington

The crypto industry has been in the regulatory crosshairs since investors were burned last year by sudden collapses of Celsius Network, Voyager Digital, FTX and other companies. The markups - where legislation is debated and brought to a vote, paving the way for a full vote by the House of Representatives - are the first time crypto regulatory bills will be put to a vote in Congress, a victory for crypto lobbyists that have pushed lawmakers to provide regulatory clarity for the industry. His committee is expected to consider that bill during a markup on Wednesday, while the House Agriculture Committee will consider the same bill on Thursday. The bill has galvanized many in the crypto industry, who say that with Democrats' support, the bill could have a shot in the Senate. That effort escalated last month when the SEC sued crypto exchanges Coinbase (COIN.O) and Binance for failing to register some crypto tokens.

Persons: we've, Kristin Smith, Sherrod Brown, Patrick McHenry, McHenry, Miller Whitehouse, Levine, Maxine Waters, Waters, Hannah Lang, Matthew Lewis, Mark Porter Organizations: Capitol, Voyager, Financial, U.S ., Representatives, Blockchain Association, Democratic, Banking, Trading, Securities, Exchange, DeFi, SEC, Financial Services, Securities and Exchange Commission, Politico, Thomson Locations: Singapore, Australia, United States, McHenry, Washington

The crypto industry has been in the regulatory crosshairs since investors were burned last year by sudden collapses of Celsius Network, Voyager Digital, FTX and other companies. Still, it remains to be seen if the bills will garner any Democratic support, a factor seen by many as crucial to the bills' ultimate chances of becoming law. His committee is expected to consider that bill during a markup on Wednesday, while the House Agriculture Committee will consider the same bill on Thursday. The bill has galvanized many in the crypto industry, who say that with Democrats' support, the bill could have a shot in the Senate. That effort escalated last month when the SEC sued crypto exchanges Coinbase (COIN.O) and Binance for failing to register some crypto tokens.

Persons: we've, Kristin Smith, Sherrod Brown, Patrick McHenry, Miller Whitehouse, Levine, Maxine Waters, Waters, McHenry, Hannah Lang, Matthew Lewis Organizations: Capitol, Voyager, Financial, U.S ., Representatives, Blockchain Association, Democratic, Banking, Trading, Securities, Exchange, DeFi, SEC, Financial Services, Politico, Thomson Locations: Washington

☆ Lawmakers tussle over GOP efforts to thwart ESG investing
▼ + stars: | 2023-07-12 | by ( Chelsey Cox | ) www.cnbc.com time to read: +4 min

WASHINGTON — House lawmakers clashed Wednesday over federally mandated environmental, social and governance disclosure requirements for companies rolled out amid concerns over growing climate disasters. The GOP majority committee members decried the disclosure rules as part of a broader push to discourage ESG investing nationwide. Democrats defended them as necessary to promote responsible investing to reduce inequities and curb climate change. "These politically motivated regulations not only discouraged private companies from going public but also hinder the competitiveness of American public companies." Democratic Rep. Maxine Waters, meanwhile, criticized Republicans' attempts to undermine what she called the federal government's responsibility to hold public companies accountable for ESG.

Persons: Patrick McHenry, Maxine Waters, David Marcus, Facebook’s Calibra, Biden, Waters, Gary Gensler, Joe Biden, Andy Barr, Benjamin Zycher, Zycher, Juan Vargas, Vargas Organizations: Financial, Consumers, Investors, American, WASHINGTON —, Republican, Financial Services, GOP, Securities and Exchange, SEC, Democratic, ESG, European Union, Labor Department, Republicans, American Enterprise Institute Locations: Washington , U.S, McHenry, R, Ky

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