The likely Republican takeover of the House of Representatives, narrow as it may end up being, will effectively end the legislative period of the Joe Biden presidency and usher in what’s sure to be an even more contentious era. One of its most important players will be Representative Kevin McCarthy, the California Republican who’s all but certain to become the next House speaker once the 118th Congress is gaveled in on Jan. 3. No figure better illustrates the party’s internal tensions— tensions that, if McCarthy doesn’t manage them, could quickly cause a market crisis or upend geopolitical stability.
Tuesday’s election didn’t produce the red wave many people anticipated, but it still shattered the Democrats’ narrow governing coalition and put McCarthy, who’s long sought the speakership, on the cusp of a personal triumph. Denied the job in 2015, when distrustful House conservatives spurned him in favor of Paul Ryan, McCarthy redoubled his efforts to raise money and win over, or at least appease, the hostile elements in the Republican caucus. This entailed courting not just the likes of Donald Trump but also radical right-wing figures such as Representatives Marjorie Taylor Greene of Georgia and Paul Gosar of Arizona. In the process, McCarthy earned a reputation as a prolific fundraiser and tireless glad-hander, and as a political weather vane willing to sacrifice principle and dignity in service of ambition. “Kevin came down to kiss my ass and wants my help to win the House back,” Trump told journalist Bob Woodward after McCarthy’s controversial pilgrimage to Mar-a-Lago in Florida following the Capitol insurrection.
Diese Geschichte stammt aus der November 14, 2022-Ausgabe von Bloomberg Businessweek US.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der November 14, 2022-Ausgabe von Bloomberg Businessweek US.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Instagram's Founders Say It's Time for a New Social App
The rise of AI and the fall of Twitter could create opportunities for upstarts
Running in Circles
A subscription running shoe program aims to fight footwear waste
What I Learned Working at a Hawaiien Mega-Resort
Nine wild secrets from the staff at Turtle Bay, who have to manage everyone from haughty honeymooners to go-go-dancing golfers.
How Noma Will Blossom In Kyoto
The best restaurant in the world just began its second pop-up in Japan. Here's what's cooking
The Last-Mover Problem
A startup called Sennder is trying to bring an extremely tech-resistant industry into the age of apps
Tick Tock, TikTok
The US thinks the Chinese-owned social media app is a major national security risk. TikTok is running out of ways to avoid a ban
Cleaner Clothing Dye, Made From Bacteria
A UK company produces colors with less water than conventional methods and no toxic chemicals
Pumping Heat in Hamburg
The German port city plans to store hot water underground and bring it up to heat homes in the winter
Sustainability: Calamari's Climate Edge
Squid's ability to flourish in warmer waters makes it fitting for a diet for the changing environment
New Money, New Problems
In Naples, an influx of wealthy is displacing out-of-towners lower-income workers