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Representative Jim Jordan may or may not break down the last few Republican holdouts who blocked his election as House speaker yesterday. But the fact that about 90 percent of the House GOP conference voted to place him in the chambers top job marks an ominous milestone in the Republican Partys reconfiguration since Donald Trumps emergence as its central figure.

The preponderant majority of House Republicans backing Jordan is attempting to elevate someone who not only defended former President Trumps efforts to subvert the 2020 presidential election but participated in them more extensively than any other member of Congress, according to the bipartisan committee that investigated the January 6 insurrection. As former Republican Representative Liz Cheney, who was the vice chair of that committee, said earlier this month: Jim Jordan knew more about what Donald Trump had planned for January 6 than any other member of the House of Representatives.

Read: Jim Jordan could have a long fight ahead

Jordans rise, like Trumps own commanding lead in the 2024 GOP presidential race, provides more evidence that for the first time since the Civil War, the dominant faction in one of Americas two major parties is no longer committed to the principles of democracy as the U.S. has known them. That means the nation now faces the possibility of sustained threats to the tradition of free and fair elections, with Trumps own antidemocratic tendencies not only tolerated but amplified by his allies across the party.

Ian Bassin, the executive director of the bipartisan group Protect Democracy, told me that the American constitutional system is not built to withstand a demagogue capturing an entire political party and installing his loyalists in key positions in the other branches of government. That dynamic, he told me, would likely mean our 247-year-old republic wont live to celebrate 250. And yet, he continued, those developments are precisely what were witnessing play out before our eyes.

Sarah Longwell, the founder of the anti-Trump Republican Accountability Project, told me that whether or not Jordan steamrolls the last holdouts, his strength in the race reflects the position inside the party of the forces allied with Trump. Even if he doesnt make it, because the majorities are so slim, you cant argue that Jim Jordan doesnt represent the median Republican today, she told me.

Longwell said House Republicans have sent an especially clear signal by predominantly rallying around Jordan, who actively enlisted in Trumps efforts to overturn the 2020 election, so soon after they exiled Cheney, who denounced them and then was soundly defeated in a GOP primary last year. Nominating Jim Jordan to be speaker is not them acquiescing to antidemocratic forces; it is them fully embracing antidemocratic forces, she said. The contrast between Jim Jordan potentially ascending to speaker and Liz Cheney, who is out of the Republican Party and excommunicated, could not be a starker statement of what the party stands for.

In one sense, Jordans advance to the brink of the speakership only extends the pattern that has played out within the GOP since Trump became a national candidate in 2015. Each time the party has had an opportunity to distance itself from Trump, it has roared past the exit ramp and reaffirmed its commitment. At each moment of crisis for him, the handful of Republicans who condemned his behavior were swamped by his fervid supporters until resistance in the party crumbled.

Even against that backdrop, the breadth of Republican support for Jordan as speaker is still a striking statement. As the January 6 committees final report showed, Jordan participated in virtually every element of Trumps campaign to subvert the 2020 result. Jordan spoke at Stop the Steal rallies, spread baseless conspiracy theories through television appearances and social media, urged Trump not to concede, demanded congressional investigations into nonexistent election fraud, and participated in multiple White House strategy sessions on how to pressure Vice President Mike Pence to reject the results.

Given that record, undermining the election is too soft a language to describe Jordans activities in 2020, Jena Griswold, Colorados Democratic secretary of state, told me. He was involved in every step to try to destroy American democracy and the peaceful transfer of the presidency. If Jordan wins the position, she said, you could no longer count on the speaker of the House to defend the United States Constitution.

Jordan didnt stop his service to Trump once he left office. Since the GOP won control of the House last year, Jordan has used his role as chair of the House Judiciary Committee to launch investigations into each of the prosecutors who have indicted Trump on criminal charges (local district attorneys in Manhattan and Fulton County, Georgia, as well as federal Special Counsel Jack Smith). Fani Willis, the Fulton County district attorney, has described Jordans demand for information as an effort to obstruct a Georgia criminal proceeding that is flagrantly at odds with the Constitution.

The willingness of most GOP House members to embrace Jordan as speaker, even as he offers such unconditional support to Trump, sends the same message about the partys balance of power as the former presidents own dominant position in the 2024 Republican race. Though some Republican voters clearly remain resistant to nominating Trump again, his support in national surveys usually exceeds the total vote for all of his rivals combined.

Equally telling is that rather than criticizing Trumps attempts to overturn the 2020 election, almost all of his rivals have echoed his claim that the indictments hes facing over his actions are unfair and politically motivated. In the same vein, hardly any of the Republican members resisting Jordan have even remotely suggested that his role in Trumps attempts to subvert the election is a legitimate reason to oppose him. That silence from Jordans critics speaks loudly to the reluctance in all corners of the GOP to cross Trump.

If Jordan becomes speaker, it would really mean the complete and total takeover of the party by Trump, former Republican Representative Charlie Dent, now the executive director of the Aspen Institutes congressional program, told me. Because he is the closest thing Trump has to a wingman in Congress.

All of this crystallizes the growing tendency at every level of the GOP, encompassing voters and activists as well as donors and elected officials, to normalize and whitewash Trumps effort to overturn the 2020 election. In an Economist/YouGov national poll earlier this year, fully three-fifths of Trump 2020 voters said those who stormed the Capitol on January 6 were participating in legitimate political discourse, and only about one-fifth said they were part of a violent insurrection. Only about one-fifth of Trump 2020 voters thought he bore a significant share of responsibility for the January 6 attack; more than seven in 10 thought he carried little or no responsibility.

That sentiment has solidified in the GOP partly because of a self-reinforcing cycle, Longwell believes. Because most Republican voters do not believe that Trump acted inappropriately after 2020, she said, candidates cant win a primary by denouncing him, but because so few elected officials criticize his actions, the more normal elements of the party become convinced its not an issue or its not worth objecting to.

The flip side is that for the minority of House Republicans in highly competitive districts18 in seats that voted for President Joe Biden in 2020 and another 15 or so in districts that only narrowly preferred TrumpJordan could be a heavy burden to carry as speaker. Everyone is worried about their primary opponents, but in this case ameliorating the primary pressures by endorsing Jordan could spell political death in the general election in a competitive district, Dent told me. Even so, 12 of the 18 House Republicans in districts that Biden carried voted for Jordan onhis first ballot as a measure of their reluctance to challenge the partys MAGA forces.

The instinct for self-preservation among a handful of Republican members combined with ongoing resentment at the role of the far right in ousting Kevin McCarthy might be enough to keep Jordan just below the majority he needs for election as speaker; many Republicans expect him to fail again in a second vote scheduled for this morning. Yet even if Jordan falls short, its his ascent that captures the shift in the partys balance of power toward Trumps MAGA movement.

Bassin, of Protect Democracy, points to a disturbing analogy for what is happening in the GOP as Trump surges and Jordan climbs. When you look at the historical case studies to determine which countries survive autocratic challenges and which succumb to them, Bassin told me, a key determinant is whether the countrys mainstream parties unite with their traditional opponents to block the extremists from power.

Philip Wallach: Newt Gingrichs degraded legacy

Over the years, he said, that kind of alliance has mobilized against autocratic movements in countries including the Czech Republic, France, Finland, and, most recently, Poland, where the center-right joined with its opponents on the left to topple the antidemocratic Law and Justice party. The chilling counterexample, Bassin noted, is that during the period between World War I and World War II, center-right parties in Germany and Italy chose a different course. Rather than directly opposing the emerging fascist movements in each country, they opted instead to try to ride the energy of [the] far-right extremists to power, thinking that once there, they could easily sideline [their] leaders.

That was, of course, a historic miscalculation that led to the destruction of democracy in each country. But, Bassin said, right now, terrifyingly, the American Republican Party is following the German and Italian path. The belligerent Jordan may face just enough personal and ideological opposition to stop him, but whether or not he becomes speaker, his rise captures the currents carrying the Trump-era GOP ever further from Americas democratic traditions.

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Technology

AI was behind over 50,000 layoffs in 2025 — here are the top firms to cite it for job cuts

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AI was behind over 50,000 layoffs in 2025 — here are the top firms to cite it for job cuts

Sad female worker carrying her belongings while leaving the office after being fired

Isbjorn | Istock | Getty Images

Layoffs have been a defining feature of the job market in 2025, with several major companies announcing thousands of job cuts driven by artificial intelligence.

In fact, AI was responsible for almost 55,000 layoffs in the U.S. this year, according to consulting firm Challenger, Gray & Christmas.

There were in total 1.17 million job cuts through 2025, the highest level since the Covid-19 pandemic in 2020 when there were 2.2 million layoffs announced by the end of the year.

In October, U.S. employers announced 153,000 job cuts, and there were over 71,000 job cuts in November, with AI being cited for over 6,000 for the month, per Challenger.

At a time when inflation bites, tariffs are adding to expenses, and firms are looking to carry out cost-cutting measures, AI has presented an attractive, short-term solution to the problem.

The Massachusetts Institute of Technology released a study in November showing that AI can already do the job of 11.7% of the U.S. labor market and save as much as $1.2 trillion in wages across finance, healthcare, and other professional services.

Not everyone is convinced that AI is the real reason behind the dramatic job cuts, as Fabian Stephany, assistant professor of AI and work at the Oxford Internet Institute, previously told CNBC, that it might be an excuse.

Stephany said many companies that performed well during the pandemic “significantly overhired” and the recent layoffs might just be a “market clearance.”

“It’s to some extent firing people that for whom there had not been a sustainable long term perspective and instead of saying ‘we miscalculated this two, three years ago, they can now come to the scapegoating, and that is saying ‘it’s because of AI though,'” he added.

Here are the top firms that cited AI as part of their layoff and restructuring strategy in 2025.

Amazon

Amazon CEO Andy Jassy speaks during a keynote address at AWS re:Invent 2024, a conference hosted by Amazon Web Services, at The Venetian Las Vegas on December 3, 2024 in Las Vegas, Nevada.

Noah Berger | Getty Images

In October, Amazon announced the largest ever round of layoffs in its history, slashing 14,000 corporate roles, as it looks to invest in its “biggest bets” which includes AI.

“This generation of AI is the most transformative technology we’ve seen since the Internet, and it’s enabling companies to innovate much faster than ever before… we’re convinced that we need to be organized more leanly, with fewer layers and more ownership, to move as quickly as possible for our customers and business,” Beth Galetti, senior vice president of people experience and technology at Amazon, wrote in a blog post.

Amazon CEO Andy Jassy warned of the cuts earlier this year, telling employees that AI will shrink the company’s workforce and that the tech giant will need “fewer people doing some of the jobs that are being done today, and more people doing other types of jobs.”

Microsoft

Microsoft CEO Satya Nadella appears at the CES event in Las Vegas on Jan. 9, 2024. The event typically doubles as a preview of how tech giants and startups will market their wares in the coming year and if early announcements are any indication, AI-branded products will become the new “smart” gadgets of 2024.

David Paul Morris | Bloomberg | Getty Images

Microsoft has cut a total of around 15,000 jobs through 2025, and its most recent announcement in July saw 9,000 roles on the chopping block.

CEO Satya Nadella wrote in a memo to employees that the company needed to “reimagine” its “mission for a new era,” and went on to tout the significance of AI to the company.

“What does empowerment look like in the era of AI? It’s not just about building tools for specific roles or tasks. It’s about building tools that empower everyone to create their own tools. That’s the shift we are driving — from a software factory to an intelligence engine empowering every person and organization to build whatever they need to achieve,” Nadella said.

Salesforce

Marc Benioff, chief executive officer of Salesforce Inc., during the US-Saudi Investment Forum at the Kennedy Center in Washington, DC, US, on Wednesday, Nov. 19, 2025.

Stefani Reynolds | Bloomberg | Getty Images

IBM

CEO of IBM Arvind Krishna looks on during a roundtable discussion hosted by U.S. President Donald Trump in the Roosevelt Room at the White House on Dec. 10, 2025 in Washington, DC.

Alex Wong | Getty Images

Global tech giant IBM’s CEO Arvind Krishna told the Wall Street Journal in May that AI chatbots had taken over the jobs of a few hundred human resources workers.

However, unlike other companies that had cited AI in job cuts, Krishna admitted that the firm had increased hiring in other areas that required more critical thinking, such as software engineering, sales, and marketing.

In November, the company announced a 1% global cut, which could impact nearly 3,000 employees.

Crowdstrike

Founder and CEO of CrowdStrike George Kurtz speaks during the Live Keynote Pregame during the Nvidia GTC (GPU Technology Conference) in Washington, DC, on Oct. 28, 2025.

Jim Watson | AFP | Getty Images

Cybersecurity software maker CrowdStrike said in May that it’s laying off 5% of its workforce or 500 employees, and directly attributed the cuts to AI.

“AI has always been foundational to how we operate,” co-founder and CEO George Kurtz wrote in a memo included in a securities filing. “AI flattens our hiring curve, and helps us innovate from idea to product faster. It streamlines go-to-market, improves customer outcomes, and drives efficiencies across both the front and back office. AI is a force multiplier throughout the business.”

Workday

Carl Eschenbach, CEO of Workday speaks on CNBC’s Squawk Box outside the World Economic Forum in Davos, Switzerland on Jan. 23, 2025.

Gerry Miller | CNBC 

In February, HR platform Workday was one of the first companies this year to say its cutting 8.5% of its workforce, amounting to around 1,750 jobs, as the company invests more in AI.

Workday CEO Carl Eschenbach said the layoffs were needed to prioritize AI investment and to free up resources.

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Politics

US lawmakers propose tax break for small stablecoin payments, staking rewards

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US lawmakers propose tax break for small stablecoin payments, staking rewards

US lawmakers have introduced a discussion draft that would ease the tax burden on everyday crypto users by exempting small stablecoin transactions from capital gains taxes and offering a new deferral option for staking and mining rewards.

The proposal, introduced by Representatives Max Miller of Ohio and Steven Horsford of Nevada, seeks to amend the Internal Revenue Code to reflect the growing use of digital assets in payments. The draft is set “to eliminate low-value gain recognition arising from routine consumer payment use of regulated payment stablecoins,” per the draft.

Under the draft, users would not be required to recognize gains or losses on stablecoin transactions of up to $200, provided the asset is issued by a permitted issuer under the GENIUS Act, pegged to the US dollar and maintains a tight trading range around $1.

The bill includes safeguards to prevent abuse. The exemption would not apply if a stablecoin trades outside a narrow price band, and brokers or dealers would be excluded from the benefit. Treasury would also retain authority to issue anti-abuse rules and reporting requirements.

Draft bill explains the reasoning behind tax breaks. Source: House

Related: Crypto Biz: Bank stablecoins get a rulebook; Bitcoin gets a land grab

US bill defers taxes on crypto staking rewards

Beyond payments, the proposal addresses long-standing concerns around “phantom income” from staking and mining. Taxpayers would be allowed to elect to defer income recognition on staking or mining rewards for up to five years, rather than being taxed immediately upon receipt.

“This provision is intended to reflect a necessary compromise between immediate taxation upon dominion & control and full deferral until disposition,” the draft said.

The draft also extends existing securities lending tax treatment to certain digital asset lending arrangements, applies wash sale rules to actively traded crypto assets, and allows traders and dealers to elect mark-to-market accounting for digital assets.

Related: Galaxy predicts stablecoins will overtake ACH transaction volume in 2026

Crypto groups urge Senate to rethink stablecoin rewards ban

Last week, the Blockchain Association sent a letter to the US Senate Banking Committee, signed by more than 125 crypto companies and industry groups, opposing efforts to extend restrictions on stablecoin rewards to third-party platforms.