California Republican Kevin McCarthy finally fulfilled his dream of becoming Speaker of the House—three days, more than a dozen ballots, and one national humiliation later than he expected it to happen.

Worst of all for McCarthy: he owes his entire speakership to Florida Rep. Matt Gaetz and five other far-right Republicans who effectively handed him the gavel on a technicality. And the cost of winning that seat could be much of the power that previously gave the Speaker’s role its...

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