Kevin McCarthy was on the brink of being the GOP’s nominee for Speaker when he unexpectedly stepped aside this morning. Right now, it’s not clear who the GOP will nominate. A few scattered thoughts:
This is not “chaos” as fun as it is to pretend so. The House has a Speaker until they elect a new one.
It’s not clear why McCarthy backed out. There are a lot of rumors but he has said that the Freedom Caucus demanded things he couldn’t give them. What those things are is not clear but there have been rumbling from the Freedom Caucus about a another government shutdown or a debt ceiling crash.
I suspect they will find someone else soon and this will blow over very quickly. It a very Inside the Beltway thing.