: The new House speaker shortlist is shaping up to be Jim Jordan, Steve Scalise … and maybe Kevin McCarthy

by | Oct 9, 2023 | Stock Market

Who will be the next speaker of the House of Representatives: Jim Jordan, Steve Scalise or … Kevin McCarthy? With an internal House Republican meeting set for Wednesday to select their nominee, the focus is on House Judiciary Committee Chairman Jordan of Ohio, House Majority Leader Scalise of Louisiana and, as of Monday afternoon, back on McCarthy.

McCarthy, the California Republican who just last week was ousted from the speaker’s office amid a revolt from hard-right members, on Monday was not ruling out a return to the position if support coalesces for him. “I’m going to allow the conference to do their work,” McCarthy said at a Monday news conference, declining to endorse either Jordan or Scalise for the speaker post. The eventual speaker elected by the House will have impact on the task of avoiding a government shutdown on Nov. 17, aid to Israel as it is engulfed in a war with Hamas, and longer-term spending priorities for Congress. Read: Investment strategist Tom Lee sees Israel attack leading to ‘risk off’ market environment, where yields retreat and stocks rise Analysts at Raymond James said the tensions in the Middle East could help speed the election of a new speaker. “The spike in Middle East tensions following attacks on Israel may help resolve domestic U.S. uncertainty related to the ongoing House speaker battle and clarify the path forward for new defense funding,” they wrote Monday. Jordan, who …

Article Attribution | Read More at Article Source

Share This