Frank Luntz, a GOP pollster and strategist, joins 'Squawk Box' to break down what Virginia's gubernatorial race means for the Biden administration and Democrats' hold on Congress. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
Glenn Youngkin, a wealthy Republican businessman, has won Virginia’s hotly contested gubernatorial election, defeating Democratic power player and former Gov. Terry McAuliffe in a race that drew national scrutiny.
An estimated 99% of the expected vote was in as of late Wednesday morning. Youngkin won about 50.7% of the votes while McAuliffe won 48.5%.
“This is the spirit of Virginia coming together like never before,” Youngkin told supporters early Wednesday following the announcement of his projected win by several news outlets. “For too long, we’ve been expected to shelve our dreams, to shelve our hope, to settle for low expectations. We will not be a commonwealth of low expectations. We’ll be a commonwealth of high expectations.”
McAuliffe conceded Wednesday morning. “Congratulations to Governor-Elect Glenn Youngkin on his victory,” McAuliffe said in a statement. “I hope Virginians will join me in wishing the best to him and his family.”
“Serving as Virginia’s 72nd governor was the highest honor of my life, and I will never stop fighting to make our Commonwealth stronger and brighter for all,” he continued.
McAuliffe, 64, and Youngkin, 54, polled neck and neck in the weeks leading up to the commonwealth’s race to succeed Democratic Gov. Ralph Northam.
McAuliffe, a longtime close friend and advisor to former President Bill Clinton and former Secretary of State Hillary Clinton, aimed to make a comeback. He had served as governor from 2014 to 2018 for the commonwealth, which bans governors from seeking consecutive terms. He was also fighting to continue a Democratic winning streak in Virginia statewide races that began in 2012.
“We’ve had a great eight-year run here,” McAuliffe said during the first gubernatorial debate last month, discussing Democratic power in the state. “We have got, you look what’s happened in this state over the last eight years, open and welcoming everybody. Hundreds of thousands of new jobs. We moved forward, we made our state open and welcoming. We’re not going back.”
Youngkin, a political newcomer who made a fortune during his 25-year tenure at global investment firm Carlyle Group, saw his campaign exceed expectations, with his outsider status and extensive business background appealing to Virginians concerned about the state economy.
“I’m not a politician, and I certainly don’t have the 120 years of combined political baggage that my opponents have,” Youngkin said in a press release announcing his candidacy in January.
Virginia’s gubernatorial race was one of the first major statewide elections in the nation since President Joe Biden took office. It was also one of the last before Democrats gear up to defend their razor-thin majorities in the Senate and House of Representatives in next year’s midterm elections.
In the other gubernatorial race being decided Tuesday, New Jersey Democratic Gov. Phil Murphy sought reelection, challenged by Republican Jack Ciattarelli.
Some experts viewed the Virginia race as a referendum on the party in the White House and a bellwether of how that party will perform in the 2022 contests.
“Virginia has become a leading political indicator for the midterm elections because there are few statewide elections the year after a presidential contest,” said Stephen Farnsworth, a professor of political science at the University of Mary Washington in Virginia.
Both candidates scrounged for votes ahead of Election Day as tighter-than-expected polling meant that the race would hinge on turnout of their partisan bases.
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic
Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.
The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: https://www.cnbc.com/2020/09/29/the-news-with-shepard-smith-podcast.html?__source=youtube%7Cshepsmith%7Cpodcast
Connect with CNBC News Online
Get the latest news: http://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC
Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC
Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC
https://www.cnbc.com/select/best-credit-cards/
#CNBC
#CNBCTV
0 Comments