Site icon 401k Market Story

“Jordan Puts End to Deadlock: Will Support McHenry as Interim Speaker ‘Til January

Jordan to Cancel Third Vote, Will Back McHenry as Interim Speaker Through January 2 Today, House Democrats have announced that they will be canceling the third planned vote for their new Speaker, and will instead be backing current Minority Whip, Rep. Patrick McHenry (R-NC) as interim Speaker until January 2nd of 2021. This decision comes after the first two votes had failed to create a consensus, due to the absence of the House’s moderates. Following unprecedented factionalizing of the House Democrats and the death of Rep. Elijah Cummings (D-MD), Speaker Nancy Pelosi (D-CA) felt the need to appoint a temporary leader for a period of time in order to provide stability, and bridge the gap between the Democratic factions. As such, Pelosi has now decided to back McHenry, who is considered to be the interim speaker-elect until January 2nd. McHenry has not indicated whether he will be formally accepting the role, though reports suggested that he was “open to the idea.” McHenry, who has represented North Carolina’s 10th congressional district since his election in 2004, has served as the ranking member of the House Financial Services Committee since 2019. Prior to that, he was known for his efforts to understand the complexities of the financial market meltdown in 2008. With the backing of Pelosi, McHenry’s interim speakership is expected to be relatively uncontested, although there will undoubtedly be opposition from the House’s falling faction. In the end, Pelosi has shown great flexibility and compromise with her decision to appoint McHenry as interim Speaker, a move that is likely to benefit both parties and restore harmony to the House of Representatives. Now, the focus is on McHenry himself, who will have to demonstrate his abilities as Speaker and his commitment to rebuild the public’s trust in the House of Representatives. Only then, it seems, will the House of Representatives be able to move past their tumultuous last few months and begin to work towards the many issues facing the nation today.
Jordan to Cancel Third Vote, Will Back McHenry as Interim Speaker Through January 2 Today, House Democrats have announced that they will be canceling the third planned vote for their new Speaker, and will instead be backing current Minority Whip, Rep. Patrick McHenry (R-NC) as interim Speaker until January 2nd of 2021. This decision comes after the first two votes had failed to create a consensus, due to the absence of the House’s moderates. Following unprecedented factionalizing of the House Democrats and the death of Rep. Elijah Cummings (D-MD), Speaker Nancy Pelosi (D-CA) felt the need to appoint a temporary leader for a period of time in order to provide stability, and bridge the gap between the Democratic factions. As such, Pelosi has now decided to back McHenry, who is considered to be the interim speaker-elect until January 2nd. McHenry has not indicated whether he will be formally accepting the role, though reports suggested that he was “open to the idea.” McHenry, who has represented North Carolina’s 10th congressional district since his election in 2004, has served as the ranking member of the House Financial Services Committee since 2019. Prior to that, he was known for his efforts to understand the complexities of the financial market meltdown in 2008. With the backing of Pelosi, McHenry’s interim speakership is expected to be relatively uncontested, although there will undoubtedly be opposition from the House’s falling faction. In the end, Pelosi has shown great flexibility and compromise with her decision to appoint McHenry as interim Speaker, a move that is likely to benefit both parties and restore harmony to the House of Representatives. Now, the focus is on McHenry himself, who will have to demonstrate his abilities as Speaker and his commitment to rebuild the public’s trust in the House of Representatives. Only then, it seems, will the House of Representatives be able to move past their tumultuous last few months and begin to work towards the many issues facing the nation today.
Exit mobile version