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Nancy Pelosi heads into a Democratic caucus meeting in the U.S. Capitol Visitor Center this week. Photo: Chip Somodevilla via Getty Images

The battle over whether Rep. Nancy Pelosi, who already became the first woman to serve as speaker of the House in 2007, will retake the gavel for Democrats now that they're in the majority has "exploded into a national political campaign," reports the Washington Post.

Why it matters: The speaker of the House will not only be responsible for advancing the Democrats' legislative agenda, but will also "emerge as the country’s most high-profile counterpoint to President Trump — who will set the strategy for investigating him, who will lead the opposition to his agenda, and who will be the face of the Democratic Party ahead of the 2020 campaign," per the Post. Riding a wave of at least 40 flipped House seats, new Democratic members have an expectation for change, one that could come via a speaker challenge from African-American lawmaker Rep. Marcia L. Fudge (D-Ohio).

Go deeper

Senate confirms retired Gen. Lloyd Austin as defense secretary

Photo: Greg Nash-Pool/Getty Images

The Senate voted 93-2 on Friday to confirm retired Gen. Lloyd Austin as secretary of defense. Sens. Mike Lee (R-Utah) and Josh Hawley (R-Mo.) were the sole "no" votes.

Why it matters: Austin is the first Black American to lead the Pentagon and President Biden's second Cabinet nominee to be confirmed.

House will transmit article of impeachment to Senate on Monday, Schumer says

Photo: Drew Angerer/Getty Images

Senate Majority Leader Chuck Schumer (D-N.Y.) announced that the House will deliver the article of impeachment against former President Trump for "incitement of insurrection" on Monday.

Why it matters: The Senate is required to begin the impeachment trial at 1pm the day after the article is transmitted.

Dan Primack, author of Pro Rata
2 hours ago - Politics & Policy

Private equity bets on delayed tax reform in Biden administration

Illustration: Brendan Lynch/Axios

In normal times, private equity would be nervous about Democratic Party control of both the White House and Congress. But in pandemic-consumed 2021, the industry seems sanguine.

Driving the news: Industry executives and lobbyists paid very close attention to Treasury Secretary nominee Janet Yellen's confirmation hearings this week, and came away convinced that tax reform isn't on the near-term agenda.