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Photo: House of Commons/PA Images via Getty Images

U.K.'s Parliament voted 328-301 on Tuesday night to take control of the legislative agenda in an effort to stop Prime Minister Boris Johnson from forcing through a no-deal Brexit on Oct. 31.

Why it matters: The lawmakers who voted in favor of the motion include a number of high-profile rebels in Johnson's own Conservative Party. They were stripped of their affiliation after the vote. Parliament on Wednesday will vote on a bill to force Johnson to seek a Brexit extension from the European Union. Operating under the assumption that the bill will pass, Johnson said he will introduce a motion tonight to dissolve Parliament and hold a general election an Oct. 14.

  • Whether that vote to hold an election will receive the necessary two-thirds majority remains to be seen, however, as the Labour Party may oppose the effort in order to ensure that a no-deal Brexit is taken off the table completely.

Between the lines: The 21 Conservatives who voted against the government and have been expelled from the party include 8 former Cabinet ministers and the grandson of Winston Churchill. Together, they have served for a total of 350 years as Conservative MPs. Ken Clarke, who has been an MP since 1970, has served under 4 prime ministers and is known as the "Father of the House."

The bottom line: It was a devastating day for Boris Johnson. He lost his first vote as prime minister and saw his working majority drop from +1 to -22.

Go deeper: U.K. government loses majority as Boris Johnson speaks in Parliament

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.