Republican leader Kevin McCarthy failed to become House speaker in the first rounds of votes Tuesday, marking a historic defeat.
McCarthy, the first House speaker nominee in 100 years to fail in the first round, needed 218 votes to win the speakership position and secured just 203, with 19 Republicans voting against him. He failed again in the second and third rounds.
Republican Congressman Matt Gaetz from Florida has been one of the most vocal opponents of McCarthy, voting against him Tuesday.
"Those of us who will not be voting for Kevin McCarthy today take no joy in this discomfort that this moment has brought," Gaetz said Tuesday ahead of the votes. "If you want to drain the swamp you can’t put the biggest alligator in control of the exercise."
The House can’t swear in lawmakers, establish rules for the next two years, or pass new legislation, until a speaker is elected.
The last time a speaker election went to multiple ballots was in 1923. That year, it took nine rounds before a speaker was chosen.
McCarthy has vowed he would fight for the position as long as it takes.
"We may have a battle on the floor, but the battle is for the country and the conference and that’s fine with me," McCarthy told reporters Tuesday.
Most members of the Federal Reserve’s interest-rate setting committee supported further reductions to its key interest rate this year, minutes from last month’s meeting showed.
From Wall Street trading floors to the Federal Reserve to economists sipping coffee in their home offices, the first Friday morning of the month typically brings a quiet hush around 8:30 a.m. eastern, as everyone awaits the Labor Department’s monthly jobs report.
The Supreme Court is allowing Lisa Cook to remain as a Federal Reserve governor for now.
Rep. John Moolenaar has requested an urgent briefing from the White House after Trump supported a deal giving Americans a majority stake in TikTok.
A new report finds the Department of Government Efficiency’s remaking of the federal workforce has battered the Washington job market and put more households in the metropolitan area in financial distress.
A new poll finds U.S. adults are more likely than they were a year ago to think immigrants in the country legally benefit the economy. That comes as President Donald Trump's administration imposes new restrictions targeting legal pathways into the country. The Associated Press-NORC Center for Public Affairs Research survey finds Americans are more likely than they were in March 2024 to say it’s a “major benefit” that people who come to the U.S. legally contribute to the economy and help American companies get the expertise of skilled workers. At the same time, perceptions of illegal immigration haven’t shifted meaningfully. Americans still see fewer benefits from people who come to the U.S. illegally.
