Mike Johnson was able to keep his spot atop the US House on Friday while seeming to offer minimal binding concessions to hard-right Republicans who had threatened his path to re-election.
What Johnson did offer — in an announcement made just before the vote — was a promise to “make meaningful spending reforms to eliminate trillions in waste, fraud, and abuse, and end the weaponization of government.”
It’s unclear what powers this new working group will have beyond publicizing its findings, but the promise clearly helped put Johnson over the top as the opposition to him slowly dwindled on Friday afternoon.
US Speaker of the House Mike Johnson, Republican of Louisiana, gavels in the first session of the 119th Congress, in the House Chamber at the US Capitol in Washington, DC, on January 3, 2025. (Photo by Mandel NGAN / AFP) (Photo by MANDEL NGAN/AFP via Getty Images) ·MANDEL NGAN via Getty Images
Johnson was able to prevail in a narrow tally, gaining a bare majority of 218 votes. Hakeem Jeffries of New York was the Democratic choice and gained 215 votes.
As expected, a Kentucky Republican named Thomas Massie opposed Johnson and voted for Rep. Tom Emmer.
The proceedings saw moments of last-minute drama when Republicans Ralph Norman of South Carolina and Keith Self of Texas also initially voted for other candidates but then switched their votes after some arm-twisting behind closed doors.
Rep. Self told CNN afterward that he switched his vote after being promised concessions to allow House Freedom caucus members to be part of the process to negotiate some of the major bills in the months ahead.
Johnson pledged as the day began that “I don’t make deals with anyone.”
“I don’t do anything in exchange for a vote other than commit to make this institution work as effectively and efficiently as possible,” he told reporters as he entered the Capitol Friday.
The back-and-forth this week ended (for now at least) fears that Johnson would have to offer deep concessions on a range of issues to his right flank in order to maintain power.
Some of the proposed changes might have made it harder for the Republicans to pass legislation in the coming weeks on a range of topics from the border to energy to taxes, as well as the coming debt ceiling deadline.
“It certainly gives us hope and helps allay some fears we had,” offered analyst Ahmed Riesgo, Insigneo’s chief investment officer, in a live Yahoo Finance appearance shortly after the vote.
But others were more sanguine. Brian Gardner, Stifel’s chief Washington policy strategist, focused on the dissension and noted that some of the chaos “is a signal about how difficult it is going to be for Republicans to be going forward.”
He added that “investors overestimate how much power Republicans have up on Capitol Hill, especially in the House.”
Mike Johnson, Republican of Louisiana, speaks with other members of the House of Representatives as they gathered to elect the Speaker on January 3. (MANDEL NGAN/AFP via Getty Images) ·MANDEL NGAN via Getty Images
Friday’s vote came after a bumpy week where the dissatisfaction among many of Johnson’s colleagues was evident, a feeling that manifested in a wide array of ideas that could have given conservative Republicans more power in the coming Congress.
One of the key areas of contention was a 36-page House rules package that Johnson unveiled in recent days by saying its provisions were not up for debate.
A key change in there actually solidifies Johnson by moving the threshold for opponents to oust him from a single member — a clause that former Rep. Matt Gaetz used to oust Kevin McCarthy — to nine members.
Another controversial change that Johnson was confronted with — but one he repeatedly parried away — was a push to appoint Rep. Chip Roy, a Texas Republican and leader of the hard-line group, as the chair of the powerful House Rules Committee.
In the end, Roy did not secure any public promise of the seat but voted for Johnson nonetheless.
Such a move would have undercut Johnson’s power as that committee — traditionally nicknamed the “Speaker’s committee” — controls access to much of what is voted on on the House floor.
In his speech Friday after winning the gavel, Johnson said, “This is a momentous time in the history of our nation” and spoke of the coming Congress’s mission to be “stewards” of the American Revolution.
Johnson’s quest was aided by Donald Trump. The president-elect endorsed Johnson earlier this week, made calls to lawmakers on his behalf, and then publicly congratulated him Friday afternoon — writing that “Mike will be a Great Speaker, and our Country will be the beneficiary.”
The immediate pressure for a conclusion to this issue came because the selection of a new speaker was needed before the House can take up official 2025 business, most pressingly certifying Trump’s election victory on Monday.
President-elect Donald Trump arrives on New Year’s Eve at his Mar-A-Lago Club on December 31. (Eva Marie Uzcategui/Getty Images) ·Eva Marie Uzcategui via Getty Images
The issue that has dogged Johnson all week is that a small faction of House Republicans — whose importance was outsized given Johnson’s tight margins — remains upset about how Johnson has handled things like last month’s budget battle, where he ended up relying on Democrats’ votes in the face of GOP divisions.
The argument from Johnson and his allies all week has been that the realignment of power in Washington set for 2025 will make those issues moot, and that he is the best leader to shepherd through Trump’s agenda.
“No speaker is perfect, and no one will ever be,” said Rep. Lisa McClain, the Michigan Republican, in her speech before formally nominating Johnson.
She added that the goal of the coming Congress is to “make progress” and enact President-elect Trump’s agenda.
This post has been updated with additional developments.
Ben Werschkul is Washington correspondent for Yahoo Finance.
Every Friday, Yahoo Finance’s Rachelle Akuffo, Rick Newman, and Ben Werschkul bring you a unique look at how U.S. policy and government affects your bottom line on Capitol Gains. Watch or listen to Capitol Gains on Apple Podcasts, Spotify, or wherever you find your favorite podcasts.
