Washington is still abuzz with the surprise defeat of House Majority Leader Eric Cantor in this week’s Virginia Republican primaries. We asked former U.S. Under Secretary of Commerce for Economic Affairs Rob Shapiro to comment. Rob, the co-founder and chairman of Sonecon, LLC, an advisory firm that analyzes changing national and world economic and political conditions and their relationship to government policies, is a member of CTC’s board of directors. — C.K.
Following Eric Cantor’s unceremonious primary loss, a carbon-tax climate program remains hostage to the divisions cracking apart the Republican Party. Majority Whip Kevin McCarthy, who represents Bakersfield and the southernmost part of California’s San Joaquin Valley, almost certainly will succeed Cantor as House Majority Leader, with no discernible difference in the GOP’s stance on climate or anything else.
Some pundits insist that Cantor’s defeat will make establishment Republicans more sensitive to Tea Party activists. But apart from raising the debt ceiling to avoid an economically (and politically) catastrophic debt default, when have the GOP’s traditionalists stood up to their ideological fringe on any significant issue? With even once-stalwart Republican supporters of climate reform sidling towards the caucus of climate-change-deniers, serious reforms that require Congress’ approval will attract little if any support from any Republican. [Read more…]