The race for House Speaker has taken an unexpected turn, with Rep. Patrick McHenry emerging as a top contender for the position. According to a betting market, his chances of securing the post rose to as high as 34% on Wednesday morning.
This surge in support for the temporary speaker comes after his party’s nominee, Rep. Jim Jordan of Ohio, failed to secure enough votes in a House floor vote on Tuesday. A second ballot is expected later today.
At the moment, McHenry’s odds stand just below Jordan’s, who currently enjoys a 36.5% chance of becoming the next House Speaker, as indicated by Smarkets’ chart. However, following this recent development, McHenry’s odds have decreased to 17%, while Jordan’s have slipped to 27%.
It’s worth noting that betting markets have been known to be unreliable predictors in politics, as they often rely on subjective narratives rather than concrete factors. As one expert in political gambling and prediction markets pointed out after the 2022 midterms, these markets can easily be swayed by biases.
Despite this, there seems to be a growing consensus that McHenry would be an ideal candidate to lead the House. Liam Donovan, a former GOP operative and now a principal at law and lobbying firm Bracewell, stated on X earlier this week, “It’s an increasingly conventional take that McHenry should run the show.”
While it remains to be seen who will ultimately claim the Speaker’s gavel, McHenry’s rise in prominence has certainly shaken up the race and added an element of intrigue to the proceedings. Stay tuned for further updates on this unfolding story.
Republican Rep. Dave Joyce Proposes Expanding Interim Speaker’s Powers
As the search for a new Speaker of the House continues, Republican Rep. Dave Joyce of Ohio is poised to make a significant move. He plans to introduce a resolution that would expand the powers of the interim speaker on Wednesday.
In a statement, Joyce emphasized the need to explore other viable options in light of the uncertainty surrounding the selection of a new Speaker. He proposed empowering Patrick McHenry as Speaker Pro Tempore to ensure the well-being of our ally, Israel, until a new Speaker is elected. This proposal has gained attention and support from several sources, as reported by multiple media outlets.
The introduction of Joyce’s resolution raises intriguing possibilities for the future of congressional proceedings during this transitional period. It remains to be seen whether this proposal will be met with widespread support and ultimately reshape the dynamics within the House of Representatives.