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After suffering defeat twice, Rep. Jim Jordan (R-OH) will not hold a third vote for speaker, and will instead back Patrick McHenry (R-NC) as interim speaker until January.

This, after Jordan met with former Speaker Kevin McCarthy (R-CA), McHenry, Cole (R-OK), and Emmer (R-MN) to discuss options, Punchbowl News reports.

After the first two rounds, a group of Republicans made it clear that Jordan wouldn't enjoy enough support to win the speaker's gavel. With House functions at a standstill – including dealing with a looming shutdown after the 6-week band-aid expires mid-November, lawmakers can now move forward with a proposal to expand McHenry's powers. Punchbowl also notes that there's "essentially no difference between a speaker and a speaker pro tem."

Jordan will remain the speaker designee, and will maintain the option to hold a speaker vote at any time.

According to Bloomberg, senior Democrats are supportive of the plan.

As Axios notes, McHenry, 47, will essentially have the same power as an elected speaker. More:

And so, Jordan is off the hook – for now.