CEO Morning Brief

Trump Wins Republican Trifecta as GOP Retains House Majority

edgeinvest
Publish date: Fri, 15 Nov 2024, 10:32 AM
edgeinvest
0 26,811
TheEdge CEO Morning Brief

(Nov 14): Republicans held on to their narrow majority in the US House, giving Donald Trump and his party unified control of the elected branches of government and limiting potential curbs on the incoming president’s power.

The Republican sweep, called by CNN and NBC News on Wednesday, sharply diminishes any hope for Democrats to curtail Trump’s sway over next year’s big fights over trillions of dollars in expiring tax provisions. Trump wants to extend cuts approved during his first term and add new ones he promised on the campaign trail.

Trump’s grip over the so-called Washington trifecta, having earlier won the majority of the Senate, also strengthens the party’s hand to enact immigration controls and reduce regulations on Wall Street and the energy industry.

The president-elect traveled to Washington on Wednesday and met with House Republicans, where he endorsed Speaker Mike Johnson to retain his leadership post.

“Isn’t it nice to win?” Trump said at the lawmakers’ gathering at the Hyatt Regency in Washington. “It’s always nice to win.”

The GOP will hold at least 218 seats in the in the 435-member chamber starting in January. With Trump in the White House, lowering budget deficits and government debt aren’t likely to be prioritised.

The Republican win also removes the threat of congressional investigation of Trump’s actions by Democrats. During his first term, the House impeached him twice, although he was never convicted by the Senate.

David Valadao of California and Dan Newhouse of Washington next year will be the only two remaining House Republicans who voted to impeach Trump following the Jan 6, 2021 insurrection. (Senators Lisa Murkowski of Alaska, Susan Collins of Maine and Bill Cassidy of Louisiana will be the only remaining Republicans who voted to convict Trump.)

The House outcome also has broad ramifications for foreign policy, adding further doubt to continued US aid to Ukraine in its defense against Russian invasion. Many Republicans in the House have opposed additional military aid for Ukraine.

However, the House Republican majority will be razor-thin and intra-party divisions threaten unified actions. The current slim majority was beset by ideological squabbles that enabled a few conservative rebels to tie scuttle legislation with any hint of compromise with Democrats. In the end, that often forced party leaders to make bigger concessions to Democrats to gain votes from the opposition.

Trump may have more leverage with recalcitrant conservative hardliners, particularly with measures that are a priority for his administration.

But the current Republican-led House has been beset by conflict. Johnson was elected House speaker last October after a handful of rebels ousted his predecessor, Kevin McCarthy.

Though Johnson angered some Republican lawmakers by relying on Democratic votes to avert government shutdowns, his colleagues’ reelection campaigns benefitted from money he raised for them.

Uploaded by Isabelle Francis

Source: TheEdge - 15 Nov 2024

Discussions
Be the first to like this. Showing 0 of 0 comments

Post a Comment