Good morning everyone,

This week has been busy for Capitol Hill as Republican’s have elected Speaker Mike Johnson, ending the three weeks of infighting in the House of Representatives. Speaker Johnson’s first resolution passed with Bi-Partisan votes of 412-10 condemning the actions of Hamas and reaffirming support for Israel. Following this, Joe Biden has an opponent in the primary as Dean Phillips announces his campaign later today.

In today’s edition:

• Stock Watching

• Mike Johnson Elected Speaker of the House

• House Passes Bi-Partisan Resolution Supporting Israel

• Rep. Dean Phillips to Run Against Biden in Primary

CONGRESSIONAL STOCK WATCHER

• 63% of Americans say most politicians ran for office to make a lot of money.

  • The newly elected speaker needs to make it a priority to pass the anti-corruption reforms that were proposed by @RoKhanna and supported by @mattgaetz.

  • This could be a very significant bipartisan win.

• Johnson has no disclosed investment accounts, not even an IRA.

  • What's strange is that he had a retirement account as recently as 2020, but he appears to have emptied it.

  • He has a home loan worth up to $500K and a personal loan worth up to $50,000.

  • Johnson has just $1.1M in his reelection account. He's raised just $550K this year.

  • He does still have a handful of corporate donors to his campaign committee, including: Visa, Mastercard, Microsoft, Lockheed Martin, and Northrop Grumman

• Senator J.D. Vance just closed his position in Walmart stock, which was now worth up to $100K.

  • In 2021, Senator Vance accused Walmart of using "slave labor" to make cheap products.

• Senator Pete Ricketts just disclosed up to $4.3M of stock sales.

  • He sold off massive amounts of 25 different positions. These are the first stock sales we have on record for Ricketts.

  • His father is the founder of the stockbroker TD Ameritrade.

• Representative Robert Wittman just disclosed 15 stock sales and just 1 stock purchase.

  • His only purchase was American Tower Corp, $AMT. $AMT has been ramping up lobbying recently, spending over $1.5M in the first quarter of this year.

• Johnson entered office as one of the poorest speakers ever. Here's a quick look at his finances:

  • Johnson has no disclosed investment accounts, not even an IRA. What's strange is that he had a retirement account as recently as 2020, but he appears to have emptied it.

  • He has a home loan worth up to $500K and a personal loan worth up to $50,000.

  • Johnson has just $1.1M in his reelection account. He's raised just $550K this year.

  • He does still have a handful of corporate donors to his campaign committee, including: Visa, Mastercard, Microsoft, Lockheed Martin, and Northrop Grumman

Be on the Lookout:

Both representative George Santos and senator Bob Menendez have not yet stepped down from their seats after multiple federal charges against them. Calls for them to step down have come from both parties and motions are in place to have Rep. Santos removed. Speaker Mike Johnson has entered office with far less money than his predecessors. He reported no investment accounts but does have some very large donors to his campaign committee.

Mike Johnson Elected Speaker of the House

October 25, 2023: On October 25, Mike Johnson (R-LA04) was elected Speaker of the House. The final vote was 220 for Johnson and 209 for House Minority Leader Hakeem Jeffries. This vote occurred 3 weeks after Republicans ousted Mike McCarthy from the Speaker's seat.

Right after his victory, Johnson proposed moving swiftly on several pieces of legislation including a bi-partisan resolution in support of Israel. There are more problems he is facing, however, including government funding that expires on November 17. This will require the Republican House to work with the Democrat Senate which will likely be a challenge.

Johnson’s opponents criticized him for being a Trump supporter, including the time he sent an email asking for signatures for an amicus brief in a Texas lawsuit that would have invalidated electoral votes from several states.

Joe Biden called Speaker Johnson to congratulate him on winning and to express “looking forward to working together to find common ground on behalf of the American people”. His Republican allies also offered they’ll give him more “runway” on a spending bill to prevent a government shutdown.

House Passes Bi-Partisan Resolution Supporting Israel

October 27, 2023-One of the first resolutions passed during Mike Johnson's tenure was a symbolic piece representing support for Israel. It passed 412-10 with only 9 Democrats and 1 Republican voting against it.

“All who cherish life, value democracy, and seek justice must resolutely condemn Hamas, condemn its heinous attack on Oct. 7, and condemn its war with Israel,” said Rep. Brad Schneider (D-Ill).

Last Friday the White House released an aid package that contained $14.3 Billion in aid for Israel, including costs for weapons resupply and replenishment. It also includes money for heightened security at the U.S. embassy and military bases.

Although both the House and the Senate have sidelined themselves from voting on legislation that would impact the situation in Israel, both sides of the aisle have expressed negative views toward Hamas and its attack on Israel.

The legislation might show that Congress is becoming more involved and could indicate a passage of Joe Biden’s $106 billion emergency national security spending request.

Rep. Dean Phillips (D-MN) Will Run Against Biden in Primary

October 27, 2023- 54-year-old Rep. Dean Phillips has planned to announce his campaign for President. He said “I think President Biden has done a spectacular job for our country, but it is not about the past. This is an election about the future.”

For months Phillips has called for someone to run against Biden but has garnered no interest from fellow Democrats. Biden’s campaign has declined to comment on Phillip’s announcement but Press Secretary Karine Jienn-Pierre mentioned Phillips's voting record and thanked him for his “almost 100% support for the President”.

Phillips has concerns about Biden’s ability to beat Trump again, as well as saying it is time to “pass the torch” to a new generation. Some of the Democratic party's top members have already aligned themselves with Biden, some say that Phillips's run will prove that Biden can win an election without a doubt.

Phillips will have a campaign announcement later on Friday.

• Islamic Resistance in Iraq claims responsibility for drone attacks in Syria - Atlas

• IDF launches airstrikes in Jenin, West Bank - Sebastien Grey

• Reports of violence at Venezuelan voting booths - Trent Barr

• Fighting continues in Southern Israel - OurWarsToday

• Maryland Circuit Court judge killed in his home - Tessaron

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