Economics
Boehner Protected From Rival Challenge as Party Is Split
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The swift Republican election of a new U.S. House leadership team won’t heal the party’s divisions though lawmakers say it does provide insulation from a challenge to Speaker John Boehner after the midterm election.
Representative Kevin McCarthy of California, who has support from the technology industry and Wall Street, will replace Eric Cantor as House majority leader, a post Cantor agreed to give up after his primary defeat June 10. Republicans endorsed McCarthy yesterday in secret balloting, rejecting a bid by Raul Labrador of Idaho, a Tea Party-backed lawmaker.