New Congress live updates: What's next after Kevin McCarthy's speakership win

Kevin McCarthy and his loyalists have been forced to make waves of concessions that will likely make the job of any GOP speaker harder. Behind arcane arguments about such things as "legislative germaneness" and a "motion to vacate" are real pending rules changes that could tie up the House floor indefinitely -- and limit the latitude any speaker has to make unpopular decisions.

That could matter deeply in the case of a true crisis, where speed of action and a House speaker's input could be critical. It will also almost certainly matter when it comes to basic matters of funding the federal government and making good on debts already incurred, which forces Congress to periodically raise the nation's borrowing limit.

Legislation in those areas almost always requires a modicum of bipartisanship -- particularly so long as the House is controlled by a different party than the Senate and the White House, as it is now. That means cutting deals that many in a speaker's own party may not agree with, without having to worry about whether that risks a no-confidence vote that could cost the gavel.

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-ABC News' Political Director Rick Klein

With the House set to reconvene at noon, McCarthy's quest for the House speakership enters a fourth day Friday following 11 failed attempts this week.

It's unclear if Republicans will attempt to adjourn the House until next week, providing more time for negotiations, or if the House will immediately enter additional rounds of votes.

As this becomes the longest speaker race since before the Civil War, the California Republican has downplayed the prolonged process, saying late Thursday, "It's not how you start. It’s how you finish."

All House business remains at a standstill until a speaker is elected -- a fact Democrats have criticized.

"As we mark a day that threatened our Democracy, let us show our respect for the great institution of the Congress," former House Speaker Nancy Pelosi tweeted, noting the second anniversary of the Jan. 6 attack. "We must open the House and proceed with the People's work."

It's the question that's top of mind for everyone on Capitol Hill: How long will this drag out?

"I'd love to know... but we're working through it, we made good progress today, so we'll continue to talk," leader McCarthy told ABC News Thursday night, also saying: "I'm not putting any timeline, I just think we've got some progress going on, we've got members talking. I think we've got a little movement. So we'll see."

Sources tell ABC News that McCarthy is inching closer to a deal that could earn the support of at least 12 more Republicans. But he can only lose the support of four members from his own party.

McCarthy said he's willing to drag it out for as long as it takes.

"I'm not putting any timeline, I just think we've got some progress going on, we've got members talking," he said. "I think we've got a little movement. So we'll see."

He insisted he wouldn't be a "weaker speaker" if he were to be elected because of the concessions he has made.

"We have a five-seat majority. So, it's not one side is going to get more than the other, it's the entire conference is going to have to learn how to work together," McCarthy said. "So, it's better that we go through this process right now so we can achieve the things we want to achieve for the American public, what our commitment was."

"So, if this takes a little longer, and it doesn't meet your deadline, that's OK. Because it's not it's not how you start. It's how you finish, and if we finish well, we'll be very successful," he added.

-ABC News' Rachel Scott, Katherine Faulders and Allie Pecorin

A memo sent to prospective House committees on Thursday night outlined some of the impact the prolonged speaker fight could have on Capitol Hill if it continues to drag out.

The guidance obtained by ABC News states that if the House hasn’t adopted a rules package, which outlines how the chamber runs, committees' payroll payments and student loan repayments would be impacted.

"Committees need to be aware that should a House Rules package not be adopted by end of business on January 13 payroll will not be processed for any committee staff since the committee’s authority for the new Congress is not yet confirmed," the memo, sent by the House's chief administrative officer, states.

The memo also notes that House employees who are enrolled in a student loan forgiveness program may be impacted: "Committees need to be aware that should a House Rules package not be adopted by end of business on January 13 no committee will be able to process student loan payments since the committee’s authority for the new Congress is not yet confirmed."

The House cannot conduct normal business until a speaker is selected, including adopting rules. Possibly further complicating the timeline, sources tell ABC News that a potential new package currently being worked on will include a mandatory 72-hour review time for bills ahead of any votes, which would include the vote on the rules package.

-ABC News' Katherine Faulders and Will Steakin