Cantor Loss an Opportunity for Paul, Bush: Halperin

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June 11 (Bloomberg) -- Bloomberg's Mark Halperin discusses the upset of House Majority Leader Eric Cantor in a Virginia Congressional primary election and what it means for immigration reform and the midterm elections. He speaks with Trish Regan on Bloomberg Television's "Street Smart." (Source: Bloomberg)

Immigration reform in jeopardy.

There were hopes that it some weight it would happen.

I never thought it would happen this year.

If it is going to happen, it will be next year.

President obama will find willing partners in parts of the republican party.

They need to do better with hispanic voters.

Look at the congressional races that are competitive.

Senate, house, governors races.

Almost no races where republicans are feeling the heat from hispanic voters.

I think we will probably see effort.

They are putting people in in a primary that are not electable . you cannot be anti-women, you cannot be anti-immigrant and expects to hold national office.

Anti-woman might be in the eyes of the holder.

-- eyes of the beholder.

That is the image that democrats have tried to portray.

It is a bad day for republicans.

There is disarray.

Nothing changes about how these midterms are laying out.

For the most part, republicans are poised to have a very good year in the midterms despite the turmoil today.

It is up to john boehner to manage this process, to try to keep the framing the way republicans want.

The civil war within the republican party, the energy, that is still good for the party right now.

Could this have been an issue of eric cantor not getting out there on the ground and doing enough campaigning question mark your he was in the capital last night.

He was not on the ground going door-to-door.

Brat with way less money may have been seen as the antiestablishment person that connected with voters?

Eric cantor is all over the country raising money tried to be a national figure.

He has been doing more work than almost anybody else in congress as a republican trying to come up with the middle class agenda.

He did not do the basic things in his district.

You still have to tend to your constituents.

Brat is a good candidate.

Most of the lessons -- you see a lot of other republicans who are going to do well and have done well.

We have seen very few incumbents lose.

There is one coming up in mississippi.

He is in danger a cousin national tea party will want to get a second.

The cofounder of the georgia base t martin -- tea party said, people like eric cantor in leadership are focused on flooding our job market with more people and will make it more difficult for people to get jobs in america.

That is that populous tone.

Was that a concern in his district?

For people in the district who can have economic anxiety, too many immigrants and eric cantor too close to big business, too much a free trader . that is an identity problem for the republican party.

Some people i mike huckabee talking about talking about -- some people like mike huckabee talking about being a middle-class party.

George bush had plenty of ties to big business, but talked a lot about the middle class and had plans for that the class.

Eric cantor has been a big business republican with ties to wall street and not a populous stylistically or in terms of his view.

He was trying to develop a middle class agenda.

How are democrats reacting to this?

They are gleeful because it distracts republicans and it does create the kind of divisions that hurt fund-raising.

Candidate recruitment is over.

Most republicans, they have strong candidates.

I do not think this changes much about the midterms, but the long-term image of the republican party, it takes a big hit.

You look forward to 2016, did this suddenly help rand paul?

It helps rand paul if the tea party -- i think he is one of the few republicans of national stature that recognizes the party must not just be a tea party and not just a big business party, but fuse those two and talk about other issues.

This opens up an opportunity for the tea party to flex and for people like john boehner and jeb bush to say, what can we do to build the majority party?

The demographics are against them.

How do they build a national party?

It will take a lot of kurds to go against the grain.

Acreage -- it will take about of courage to go against the grain.

What does this mean for virginia?

They will get a seemingly nobody . are they going to lose out on potential money?

Without a question, they have given up the number two guy.

A potential speaker.

That state is pretty well connected they have democratic senators and plenty of other house members of some seniority.

Mark halperin, welcome aboard.

Stick with us because eric

This text has been automatically generated. It may not be 100% accurate.

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