So yesterday was … unexpected. House Majority Leader Kevin McCarthy abruptly pulled his name out of contention to be the next Speaker of the House, sending the House Republican Conference further into disarray. The race was only taking place because of the retirement of Speaker John Boehner, who decided last month to step aside rather than face a leadership challenge from his party’s right flank. McCarthy found it impossible to get to the required 218 votes on the House floor without Democratic votes, deciding he’d rather remain as the GOP’s #2 than be beholden to the opposition. His decision leaves no obvious successor, let alone one who can unify the GOP conference, other than Rep. Paul Ryan. The former GOP vice presidential nominee and budget hawk has broad appeal in the party and many in the establishment hope that he will be their savior—in fact, privately, some believe he’s a far better choice for the job than McCarthy. But Ryan, the House Ways and Means Chairman with his eye on enacting tax reform legislation, has thus far rebuffed pleas to take the job. But Boehner and many GOP donors haven’t stopped calling and it remains to be seen how long Ryan can continue to say no.
Sen. Ted Cruz will report raising $12.2 million in the third quarter of 2015, his campaign announced late Thursday, a sum roughly double that raised by Sen. Marco Rubio, and right now the second-highest total raised by a candidate in that period, following Ben Carson‘s $20 million. Rubio’s haul is particularly underwhelming given his early focus on fundraising at the expense of time legislating in Washington or on the stump in the early states. All eyes are now on Jeb Bush‘s total, which must be released by next Thursday. A total at or above Cruz’s number would meet the all-important expectations.
In an exclusive interview with TIME, Bush explains his opposition to reauthorizing a portion of the Voting Rights Act, saying it is outdated for the modern era. Rand Paul is launching a digital campaign against raising the debt limit next month. And Joe Biden vetoes an ad by his super PAC.
Here are your must reads:
Must Reads
Here’s What Could Happen Next in the Race for Speaker
TIME’s Jay Newton-Small tries to make sense of the chaos
House Republicans Govern Like It’s 1998, Worrying Many
It’s deja vu all over again [New York Times]
Exclusive: Jeb Bush Explains Why He Opposes Voting Rights Act Provision
Bush tells TIME the law works fine as it is now
Biden hopes new Draft Biden ad won’t air
Draft Biden Super PAC pulls emotional ad amid VP protests [Los Angeles Times]
Hillary Clinton Gives Joe Biden an Opening
Hillary Clinton is moving to distance herself from key White House policies [Wall Street Journal]
Sound Off
“I think the likelihood of Hitler being able to accomplish his goals would have been greatly diminished if the people had been armed. I’m telling you there is a reason these dictatorial people take guns first.” — Ben Carson to CNN’s Wolf Blitzer on gun control and the Holocaust
“I had a lot of friends that were really supportive that said, ‘Why do you want to do it during this time? This time will be the worst time. They’re going to eat you and chew you up.'” — Kevin McCarthy to Politico on his short-lived run for Speaker
Bonus: “I’ve never worked in Washington. It’s just not part of my DNA” — Jeb Bush at a campaign stop in Iowa Thursday
Bits and Bites
Another Bill Signals Momentum for Criminal Justice Reform [TIME]
FBI Head Calls Lack of Data on Police Shootings ‘Embarrassing’ [TIME]
Critics Push Back at Clinton’s Plan to Tax High-Frequency Traders [Wall Street Journal]
Pentagon Turns Lights Out on Rank and File [TIME]
The GOP Sinks Deeper into Chaos. Can It Still Function as a Party? [Washington Post]
Bernie Sanders to oppose Obama’s nominee to lead the FDA [Washington Post]
Clinton Heckled at Hispanic Caucus Event [Politico]
Kevin McCarthy addresses decision to step away from leadership race [Quora]
More Must-Reads from TIME
- Donald Trump Is TIME's 2024 Person of the Year
- Why We Chose Trump as Person of the Year
- Is Intermittent Fasting Good or Bad for You?
- The 100 Must-Read Books of 2024
- The 20 Best Christmas TV Episodes
- Column: If Optimism Feels Ridiculous Now, Try Hope
- The Future of Climate Action Is Trade Policy
- Merle Bombardieri Is Helping People Make the Baby Decision
Contact us at letters@time.com