This week, Representative Marjorie Taylor Greene acted on her threatened move to “vacate” the Speaker and remove Mike Johnson, just as the House had removed Kevin McCarthy from the Office of Speaker.  However, there were some big changes this time around.

The House bipartisan leadership decided to avoid a direct vote on the Speaker’s fate and used the parliamentary tool of “tabling” the motion to vacate.  The motion to table is a way to defeat a motion.  The final vote was 358 in favor of tabling and supporting the Speaker and 43 against. 

Only 11 Republicans didn’t support the Speaker, while 32 Democrats took the traditional position of opposing a Speaker from the opposite party.  Led by Democratic Leader Hakeem Jeffries, 163 Democrats joined 196 Republicans to support the Speaker. 

Crypto

The SEC has issued a Staff Accounting Bulletin (SAB) or SAB 121 that would require banks to hold capital against crypto liabilities.  The General Accounting Office (GAO) ruled that the SEC rule falls under the criteria of federal regulations that can be overridden by Congress. 

The House Financial Services Chair led an effort to have the House vote to override SAB 121, and the motion passed 228 to 183. However, the motion now goes to the Senate where the ou...

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