Technical Analysis

US House of Representatives begins fourth ballot voting for Speaker of the House

Kevin McCarthy failed 3 times yesterday to secure enough votes (218) to become the Speaker of the House. The final tallies showed 19, 19 and then 20 defectors from his own party (votes were cast for Jim Jordan). McCarthy could only afford 4 defectors to secure the role of speaker given the make-up politically of the House.

After adjourning overnight, the 4th vote has begun. Republican Byron Donalds (a Republican from Florida) has been nominated and currently has 4 votes as the verbal vote is being conducted. Yesterday, Jordan secured the 19/20 votes.

Jeffries is the Democrat nominee and actually received the most votes, but is unlikely to get votes from any Republicans.

UPDATE: Donalds has now received 6 votes which pretty much secures another loss for McCarthy.


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