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Mutual Fund and ETF data provided by <a href="https://lipperalpha.refinitiv.com/" data-omtr-intcmp="topnav_more_refinitive_info">Refinitiv Lipper</a>. <br>Fox News correspondent Matt Finn has the latest on the Trump transition heading into 2025 on 'Special Report.' <br><a href="https://www.foxnews.com/us#&_intcmp=topnav_us_1" target="_blank" rel="noopener">The Constitution</a> dictates that the 119th Congress begins at noon et on Friday. <br>And the first order of business in the House is to elect the Constitutional officer for the legislative branch of government: Speaker of the House.<br>Only the House votes for Speaker. And the House can’t do anything – I’ll repeat that, anything – until it chooses a Speaker. <br>It can’t swear-in Members until the House <a href="https://www.foxnews.com/category/person/mike-johnson" target="_blank" rel="noopener">taps a Speaker</a> and he or she is sworn-in. The Speaker then swears-in the rest of the body, en masse. Then the House must adopt a rules package to govern daily operations. Only then can the House go about debating bills, voting and constructing committees for hearings. <br><a href="https://static.foxnews.com/foxnews.com/content/uploads/2024/12/luna-harris-mccaul.jpg" target="_blank" rel="noopener"><strong>HEALTHY LIVING, PARTY UNITY, 'SMELLING THE ROSES': CAPITOL HILL'S NEW YEAR'S RESOLUTIONS</strong></a><br>If the House fails to elect a Speaker on the first ballot, it must proceed to a second ballot. <br>And on and on. <br>Consider for a moment that the House had never even taken a second vote for Speaker in a century before the donnybrook two years ago. It took four ballots to re-elect late House Speaker Frederick Gillett, R-Mass., in 1923. <br>What is past is <a href="https://www.foxnews.com/politics#&_intcmp=topnav_politics_2" target="_blank" rel="noopener">prologue for the House</a>. Consider how the House consumed 15 rounds spread out over five days before electing former House Speaker Kevin McCarthy, R-Calif., in January, 2023. The Speakership remained vacant – and thus, the House frozen – for 22 days after Republicans dumped McCarthy nine months later. House Republicans then tapped House Majority Leader Steve Scalise, R-La., for Speaker. Scalise withdrew his name before there was even a floor vote. House GOPers then tapped Rep. Jim Jordan, R-Ohio, to become Speaker. But Jordan lost three consecutive votes for Speaker on the House floor, bleeding support on each ballot. House Republicans then anointed House Majority Whip Tom Emmer, R-Minn., for Speaker. Emmer withdrew hours later. <br><span>Fox News Digital briefly spoke with ex-Speaker Kevin McCarthy during a rare appearance on Capitol Hill</span> <!----><br>House Republicans finally nominated House Speaker Mike Johnson, R-La., for the job. The Louisiana Republican won on the floor. But some conservatives have been disappointed in Johnson ever since. They’ve flagged how he handled multiple, interim spending bills from last November on. They didn’t like that he allowed a bill on the floor to aid Ukraine. They opposed him doing yet another interim spending bill in September. They really didn’t like how he worked with Democrats on major, must-do pieces of legislation. And then there was the misstep of the staggering, 1,500-page interim spending package <a href="https://www.foxnews.com/category/person/donald-trump" target="_blank" rel="noopener">which Mr. Trump</a> and Elon Musk pulverized from afar in December. Johnson then did President-elect Trump’s bidding with another spending package – which included a debt ceiling increase. But 38 House Republicans bolted on that bill. <br>So Johnson’s tenure has been bumpy. And that’s why he’s on the hook come Friday afternoon during the vote for Speaker. Everyone on Capitol Hill is on tenterhooks when it comes to wrapping this up expeditiously. <br>Here’s what will happen Friday at noon: <br><a href="https://www.foxnews.com/world/republican-congressman-calls-incoming-administration-target-axis-aggressors" target="_blank" rel="noopener"><strong>REPUBLICAN CONGRESSMAN CALLS ON INCOMING ADMINISTRATION TO TARGET 'THE AXIS OF AGGRESSORS'</strong></a><br>Acting House Clerk Kevin McCumber will preside until the House elects a Speaker. The first order of business is a "call of the House." That’s where the House establishes how many of its Members-elect are there, simply voting "present." The House <a href="https://www.foxnews.com/category/politics/house-of-representatives" target="_blank" rel="noopener">should clock in</a> at 434 members: 219 Republicans and 215 Democrats. There should be one vacancy. Former Rep. Matt Gaetz, R-Fla., resigned in the fall – and said he did not "intend" to serve in the new Congress, despite having won reelection. <br>Watch to see if there are absences in that call of the House. Fox is told that Democrats who have struggled with health issues of late – including Reps. Raul Grijalva, D-Ariz., Dwight Evans, D-Penn., and former House Speaker Nancy Pelosi, D-Calif., will likely be there. But the Speaker’s election is about the math. How many lawmakers report to the House chamber will dictate margins in the Speaker’s vote.<br>Then it’s on to nominating speeches. Incoming House Republican Conference Chairwoman Lisa McClain, R-Mich., will nominate Johnson for Speaker. House Democratic Caucus Chairman Pete Aguilar, D-Calif., will nominate House Minority Leader Hakeem Jeffries, D-N.Y. Anyone else can then place someone’s name in nomination.<br>Then, the House calls the roll of Members-elect alphabetically. Each Member rises and verbally responds, calling out their choice by name. Reps. Alma Adams, D-N.C., Robert Aderholt, R-Ala., and the aforementioned Aguilar are the first names out of the block.<br><span></span> <span>(Chip Somodevilla/Getty Images)</span><br>But lawmakers can vote for anyone they want. That includes persons who aren’t House Members. That’s why there have been votes cast over the years for the late Gen. Colin Powell, Sen. Rand Paul, R-Ky., former Sen. Jeff Sessions, R-Ala., and former U.S. Comptroller General David Walker. <br>This is what Johnson – or anyone else must do – to win the Speakership:<br>The winning candidate must secure an outright majority of all Members voting for a candidate by name. <br>So let’s say there are 434 members and all vote for someone by name. The magic number is 218. If Johnson gets the votes of all 219 Republicans, he wins. If Johnson gets 218 votes, he also wins. But 217? No dice. Under those circumstances Johnson would have prospectively outpolled Jeffries, 217-215 – with two votes going to other candidates. But the "most votes" doesn’t win. 217 is not an outright majority of House Members voting for someone by name. The House must take ANOTHER ballot to elect a Speaker. <br>Fox is told there are anywhere from 12 to 17 Republicans who could vote for someone besides Johnson. And some Republicans are being cagey about their votes. <br><a href="https://www.foxnews.com/politics/bernie-sanders-plans-spearhead-legislation-key-trump-proposal" target="_blank" rel="noopener"><strong>BERNIE SANDERS PLANS TO SPEARHEAD LEGISLATION ON KEY TRUMP PROPOSAL</strong></a><br>Here’s something to watch: Members who vote "present."<br>Rather than voting for someone besides Johnson, some Republicans may protest by simply voting "present." A "present" vote does not count against Johnson. <br>So let’s do some hypothetical math here:<br>Let’s say 434 Members cast ballots. Jeffries secures support from all 215 Democrats. Three Republicans vote "present." In other words, not voting for any candidate by name. Johnson scores 216 votes. He has the most votes. But more importantly, only 431 Members voted for someone by name. 216 is an outright majority of 431. 434 doesn’t matter under these circumstances. So Johnson becomes Speaker. <br>But there is serious danger in too many Republicans voting "present." <br>Consider this scenario: <br>All 215 Democrats vote for Jeffries. But five Republicans vote "present." Johnson records 214 votes. 429 Members cast ballots for someone by name. The magic number here is 215. Guess who’s Speaker? Jeffries. He marshalled an outright majority of all Members voting for a candidate by name.<br><span></span> <span>(Joe Raedle/Getty Images)</span><br>As they say in the movies, "You play a very dangerous game, Mr. Bond."<br>With such a thin margin in the House, Republicans <a href="https://www.foxnews.com/category/politics/house-of-representatives/republicans" target="_blank" rel="noopener">are absolutely tinkering</a> with fire if they get too cute by half. Yes. Some conservatives might not want to re-elect Johnson as Speaker. But they certainly don’t want Jeffries. <br>So it’s hard to say what happens on Friday afternoon. If the House dithers too long, this could delay the certification of the Electoral College vote on Monday. The House and Senate must meet in a Joint Session of Congress on January 6 to certify the election results. No House Speaker? No Joint Session. <br>But something else will likely unfold if this drags on. Johnson loyalists and mainstream Republicans have had it with right-wing ideologues, the Freedom Caucus and other freelancers. Expect a full-on brawl between those two factions if Republicans struggle to elect a Speaker.<br><a href="https://foxnews.onelink.me/xLDS?pid=AppArticleLink&af_dp=foxnewsaf%3A%2F%2F&af_web_dp=https%3A%2F%2Fwww.foxnews.com%2Fapps-products" target="_blank" rel="noopener"><strong><u>CLICK HERE TO GET THE FOX NEWS APP</u></strong></a><br>And as we wrote earlier, what is past is prologue. <br>A protracted battle over the Speakership serves as prologue to the looming, internecine fights among Republicans when it comes to governing. That’s to say nothing of implementing a solitary plank of President-elect Trump’s agenda.<br>Chad Pergram currently serves as a senior congressional correspondent for FOX News Channel (FNC). He joined the network in September 2007 and is based out of Washington, D.C.<br> This material may not be published, broadcast, rewritten, or redistributed. ©2025 FOX News Network, LLC. All rights reserved. Quotes displayed in real-time or delayed by at least 15 minutes. Market data provided by <a href="https://www.factset.com/" data-omtr-intcmp="footer_factset">Factset</a>. Powered and implemented by <a href="https://www.factset.com/solutions/business-needs/digital-solutions" data-omtr-intcmp="footer_factset_digital_solutions">FactSet Digital Solutions</a>. <a href="https://www.factset.com/privacy" data-omtr-intcmp="footer_factset_privacy">Legal Statement</a>. Mutual Fund and ETF data provided by <a href="https://lipperalpha.refinitiv.com/" data-omtr-intcmp="footer_refinitive_info">Refinitiv Lipper</a>. <br><br><a href="https://news.google.com/rss/articles/CBMikgFBVV95cUxPQl9HenlKU2oxNjN5dXI1dGljZnQ3d1pDQ0hsQ3RyOHhNQm5FZnhrNWkxalRWc1ZHZ3hPN1ZzS1E2MnA3Y3JMdTFwVC1EOUxaUGNnYV9xMHozV1lCR3FjSjFKZm9wSkVBVHdyLTlBb24yczd6R3R3blZGekdXODd3cy1BWnpIS3hfQ0RxWmpLd1VRQdIBlwFBVV95cUxNU3NRZDZsRmEwbzNTc0VyUlB2QXpKOUFFYVB1QnFha1hvYXlMSTFZT3RpRjkxRW5OSGxmVk1haVREcXU3QWVSVXZFalR5Nk1LVEY5RkhoeU9kUVdyalhETTVOR1ItUTN1NmhVbXdXMTNRR1BlYmxKVWJaalBzV0daa0NfcEg3anZ2eWtLdEFfdkx3ZTMzRWM4?oc=5">source</a>
