Speed Reads

This just in

McCarthy drops out of speaker race, vote postponed

House Majority Leader Kevin McCarthy (R-Calif.) abruptly dropped out of the race for House speaker on Thursday, just as House Republicans were gathering for a vote. McCarthy, who was widely seen as the favorite for the nomination, reportedly said, "I am not the one" as he withdrew his bid.

Though McCarthy may have had enough support to succeed in the vote, the news comes shortly after the influential hardline Freedom Caucus announced it would not support him — an indication that the uncompromisingly conservative voting bloc that threatened to hold a floor vote on John Boehner's speakership would likely be a thorn in McCarthy's side throughout his presumed tenure in the role.

McCarthy plans to remain as House majority leader. The vote for House speaker has been postponed.