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Marketplace All-in-One

What a slim GOP majority in the House means for economic policy

Marketplace All-in-One

Marketplace

News, Business

4.51.4K Ratings

🗓️ 4 December 2024

⏱️ 9 minutes

🧾️ Download transcript

Summary

The result of the last undecided U.S. House race is finally in. Yesterday, Adam Gray was declared the winner in California’s 13th Congressional District, flipping the seat from Republican to Democrat. The GOP will control the House, but only by five seats. We’ll discuss the implications. And later, we’ll hear about the ripple effects of impeachment calls in South Korea and calls for a nationwide Chipotle boycott coming from Lansing, Michigan.

Transcript

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0:00.0

The math is in for the new House of Representatives, which informs economic policy.

0:07.3

I'm David Bruncatcher. The results of the last undecided U.S. House race, finally in yesterday, Adam Gray, was declared the winner in California's 13th Congressional District, flipping the seat from Republican to Democrat.

0:20.3

The GOP will control the House,

0:22.0

but by five seats. Marketplaces Nancy Marshall-Genser joins us now. Five seats, Nancy.

0:27.8

Yeah, slim indeed, David. And by the Associated Press's account, Republicans won 220 House seats

0:35.0

compared to 215 for the Democrats, but three of those GOP seats are likely to be

0:41.0

empty for much of Trump's first 100 days in office. Florida Republican Matt Gates resigned his

0:46.6

seat after his short-lived appointment as Attorney General, and President-elect Donald Trump

0:51.3

has nominated two other Republican House members for positions in his cabinet.

0:56.7

And how might those vacancies in the House complicate Republican plans for, say, extending the tax cuts that expire at the end of next year?

1:05.2

Well, House Speaker, Mike Johnson, is going to have no margin for error.

1:09.8

He's not likely to get support from House Democrats, and that

1:13.5

means until those three seats are filled, Republicans will have just a 217 to 215 House majority.

1:21.6

So Johnson can afford very few defections. He's going to have to try to please hardliners

1:26.1

and more moderate Republican House

1:28.4

members from blue states. And they're insisting that a cap on federal deductions for state

1:33.4

and local taxes be lifted. And more immediately, a stopgap bill funding the federal government

1:39.7

runs out December 20th. How does that complicate things for the incoming administration?

1:45.0

It looks like Congress will try to pass another temporary spending bill that would fund the government into early next year. That would expire at the beginning of Trump's second term. Then Congress would have to negotiate a new deal to keep the government running. And that would take time away from Trump's priorities for his first

2:00.8

hundred days in office. Nancy, thank you. There were a few hours yesterday in South Korea,

2:06.2

where after a presidential decree, all media were subject to censorship by an army general,

2:11.0

and all political activities were banned. Then the legislature in Seoul unanimously pushed back

...

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