House Republicans will reportedly choose their congressional leaders the week after midterm elections.
According to media outlets, the election for GOP leadership will be Nov. 14.
McCarthy is up against Rep. Jim Jordan, a House Freedom Caucus leader.
Jordan has the backing of some of the most conservative lawmakers and outside groups, but the competition to win the speakership is expected to be tough.
Democrats will hold their leadership elections the week after Thanksgiving.
Both parties will then put their nominees up for a vote once the new Congress convenes in January. And whichever party controls Congress at that point, their nominee will likely win the vote for House Speaker.
Whichever party doesn't control Congress, their nominee will be minority leader instead of Speaker of the House.
Additional reporting form Newsy affiliate CNN.