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House to vote on stripping Rep. Marjorie Taylor Greene

Yahoo Finance’s Myles Udland, Julie Hyman, Brian Sozzi, and Rick Newman discuss the latest in U.S. politics.

Video Transcript

MYLES UDLAND: Something we haven't been discussing, hardly at all, is what's happening in politics. Rick Newman joins us now to give us an update on just what in the world is happening down in Washington, DC. And Rick, I've got to say, it's been kind of nice, just talking about GameStop and AMC and having these fights about whether Robinhood is-- if they know they're in the right business.

But that's not your job. Your job is to pay attention to DC and economic policy. So where are we at with all that today?

RICK NEWMAN: Well, I mean, the big story this week-- and it's going to be the big story for a while is this giant split, this fracture really in the Republican Party with what's going on with representative Marjorie Green. She's the QAnon conspiracy theorist. And there's this question of whether she should sit on these couple of committees.

This has no effect on policy. But what's going on is the Republicans have a giant identity crisis with these sort of kooks, the fringey kooks taking up, let's say, 40% of the party. And Democrats just want to milk this for everything they can. So they're going to have this vote today on whether to kick her off of these couple of committees.

And again, this doesn't really have much effect on any policy. But Democrats want to do this because they want to put every Republican on record, saying, do you support this woman and think she should stay on the committees or do you think she should get kicked off and she should not be the face of the Republican Party. So Democrats are going to be doing everything they can during the next two years to make Marjorie Taylor Green and other people like her, the fringe of the GOP, if you will, try to make them the face of the Republican Party and hopefully use that to their benefit in the midterm elections in 2022.

JULIE HYMAN: So let's also talk about though, if it makes a difference in policy at all, Rick. And I don't mean about what her specifically and what committees she's on. I more mean this split within the party. Presumably, it's not going to be a split when it comes to, say, voting for impeachment or not. Or is it?

RICK NEWMAN: So we're going to get the impeachment trial starting next week. And again, this is just going to be uncomfortable for Republicans because they just want this matter to go away. And again, it's the same strategy for Democrats. They want Republicans to be on the record, either supporting Trump, encouraging the rioters to go to the capital, or not.

So the way this starts to affect policy is really what happens in future elections. And I think that's what's really going on here. The sort of wish list for Democrats is to portray Republicans as as fringey as possible, as extremist as possible. And then if they start to nominate, in the primary elections in 2022, some kind of candidates who can win the primaries but can't win in a general election, then Democrats pick up seats.

And I don't think they're going to ever get a 10-seat majority in the Senate to overcome the filibuster. But they could pick up a few seats. And that makes it easier to pass legislation in the second two-year phase of Biden's presidency. So I think this is all about the 2022 elections and even the 2024 presidential election.

MYLES UDLAND: I mean, Rick, it's strange to say that discussing a congressperson who believes QAnon is a real thing is politics as usual. But does it seem to you like this is more-- I mean, this feels like classic politicking, trying to back your opponent into an untenable position and then run on that record. But I mean, the details are different.

It kind of does feel like more normal. I mean, the president doesn't tweet in the morning. At least we've got that going for us.

RICK NEWMAN: With the one really odd factor that Donald Trump, still apparently, is sort of the most important figure in the Republican Party. And I think Democrats aren't sure if that's a good thing or a bad thing. I mean, he does have the ability to rally people. And we know that he got people to vote for him who don't normally vote in 2016 and even more so in 2020.

But on the other hand, Trump's legacy is first, he lost the House of Representatives in 2018. Then he lost the presidency for Republicans in 2020. And then he lost the Senate for Republicans. So there are a lot of Republicans who just want to move on from Trump.

But this Trump faction proves that there's ongoing loyalty to Trump. And how the Republicans get out of this in the next two years or four years, I really don't know. I think they're just going to remain kind of a party at war with itself.

MYLES UDLAND: All right. Yahoo Finance's Rick Newman. Rick, always good to see you. We used to see each other almost every day. Now it's just a rare, fleeting moment in the Skype hangout, Rick.

RICK NEWMAN: I'll be in touch.