BREAKING: Mike Johnson elected as new House Speaker

The 220 GOP members present on the floor voted in unison for Johnson, while all present Democrats voted for Democrat nominee Rep. Hakeem Jeffries.

Rep. Elise Stefanik nominated Johnson, leading to a round of applause and cheers of "Mike" from the GOP members.

"A deeply respected constitutional lawyer, Mike has dedicated his life to preserving America’s great principles of life, liberty, and the pursuit of happiness," Stefanik said, later adding, "a friend to all and an enemy to none."

This is the fourth nominee elected by the party, with Steve Scalise dropping out, Jim Jordan not receiving enough support on the House Floor, Rep. Tom Emmer dropping out just hours after being nominated in the fifth round of voting after he couldn’t gather enough support among holdouts, and Johnson being nominated late Tuesday evening.

The House had been without a speaker since Oct. 3, over three weeks after Rep. Matt Gaetz brought forward a motion to vacate, removing former House Speaker Kevin McCarthy from his post.

Addressing the chamber after the election, Johnson said, "we stand at a very dangerous time, I’m stating the obvious, we all know that the world is in turmoil, but a strong America is good for the entire world."

"We are the beacon of freedom and we must preserve this grand experiment in self-governance."

Johnson said of the crises facing the nation and the world, "our nation’s greatest ally in the Middle East is under attack," "we have a catastrophe at our southern border," "skyrocketing cost of living is unsustainable and Americans should not have to worry about how they’re going to feed their family every week because they can’t afford their groceries anymore," and "the greatest threat to our national security is our nation’s debt."

"The People's House is back in business."

This is a breaking story and will be updated.