McCaul plans to run for House Speaker

U.S. Representative Michael McCaul (R-Austin). Photo courtesy:

U.S. Representative Michael McCaul (R-Austin) says he plans to run for House Speaker -- but only if Paul Ryan doesn't run for the job.

McCaul's team says several members of the House have approached him about the position. He says right now he supports Congressman Ryan, but he will consider it.

Representative Ryan may not make an announcement until after Congress returns from a recess next week.

If he does take the job, he'll almost immediately face two looming fights: whether to raise the government's debt ceiling and the deadline to pass a federal budget.

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