: House speaker race: Tom Emmer ends bid, another candidate forum planned for tonight

by | Oct 24, 2023 | Stock Market

Rep. Tom Emmer of Minnesota has become the latest House Republican to hit a wall in his push to become speaker, as the congressman on Tuesday opted to end his bid for the post, according to multiple published reports. The Minnesota lawmaker had been facing resistance in his effort to become speaker, with more than 20 fellow Republicans indicating that they wouldn’t support him in a vote on the House floor. Former President Donald Trump, the frontrunner in the 2024 GOP presidential primary, also came out against him.

Emmer, an advocate for cryptocurrencies
who has been the No. 3 House Republican, became his party’s latest nominee for speaker just hours earlier Tuesday. Following his exit, House Republicans were expected to hold another forum for candidates around 6 p.m. Eastern Tuesday. The GOP-run House has looked rudderless since Oct. 3, when the chamber voted for the historic ouster of former Speaker Kevin McCarthy, a California Republican. House Majority Leader Steve Scalise, a Louisiana Republican, was tapped on Oct. 11 as the GOP’s nominee for speaker but ended his bid for the post after some colleagues refused to support him, and a second nominee, Rep. Jim Jordan of Ohio, saw his bid flop last week.  Analysts have been warning that the process of picking a new speaker is preventing the Republican-run House from addressing crucial matters, such as supporting Israel and passing a budget to avoid a government shutdown next month that could rattle markets

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