Gaetz took aim at Cole's comments as he also slammed McCarthy and criticized Capitol Hill's approach to spending.

"Chaos is Speaker McCarthy," Gaetz said, rebuffing how Cole argued that the motion to vacate would create needless disruption in the chamber.

"Chaos is somebody that we cannot trust with their word. The one thing that the White House, House Democrats and many of us on the conservative side of the Republican caucus would argue is that the thing we have in common: Kevin McCarthy said something to all of us at one point that he didn't really mean and never intended to live up to."

Gaetz went on to lambast the size of national debt and deficit as well as the lack of single-subject spending bills -- something McCarthy has said he is also focused on enacting.

After Rep. Bob Good, R-Va., delivered a speech castigating McCarthy and explaining why he was joining Gaetz in the motion to vacate, Republican Rep. Tom Cole of Oklahoma spoke out in support of McCarthy and warned of "chaos" should the conference's breakaway faction succeed in removing him.

"They're willing to plunge this body into chaos, and this country into uncertainty, for reasons only they understand," Cole said. To the Democrats who are expected to vote against McCarthy as well, Cole said, "Think long and hard before you plunge us into chaos."

Cole also celebrated how McCarthy had navigated the differences in the closely divided House -- and Washington more broadly -- to notch spending cuts in the debt limit fight earlier this year, pushing back on criticism from Gaetz and others that McCarthy hadn't done enough to curb the federal budget.

Cole also suggested McCarthy had proven himself capable of making sure the House would continue to accomplish Republican priorities.

"I'm very proud of this speaker. I'm very proud to stand behind him. Tomorrow morning, whether I win or lose, I'm going to be pretty proud of the people I fought with and I'm going to be pretty proud of the person I fought for," Cole said.

-ABC News' Adam Carlson

Debate began Tuesday afternoon on the motion to vacate ahead of the vote on it. Gaetz ceded the floor to Virginia Republican Rep. Bob Good.

"Like so many others, I deeply regret that we are here in a totally avoidable situation," Good said as he began his remarks, which largely targeted McCarthy's actions on spending to date. "I must take you back to January, however, which for many of us was about not repeating the failures of the past and letting Republican voters across the country down once again."

Good continued, "Back in January, I expressed my concern that the previous two years during my first term here in this House, we had not used every tool at our disposal to fight against the harmful, radical, Democratic agenda that is destroying the country, bankrupting the country and under which the American people are suffering."

The motion to table Gaetz's own motion to vacate -- which would have effectively killed his request before it received a vote -- has failed, 208-218.

Eleven Republicans joined all Democrats in voting it down -- setting up a key vote on the motion to vacate.

The failure of the motion to table suggests McCarthy's speakership is in real jeopardy as he would need a majority of support of the chamber to back him in order to keep his role.

A vote on the motion to vacate is expected shortly. After the vote, McCarthy slumped in his chair in the second row.

-ABC News' Adam Carlson

From the moment McCarthy was elected speaker, it was clear that his ability to keep that job could depend on Democrats.

To get elected on that 15th ballot in January, McCarthy had to agree to a series of rules that made him a profoundly weak speaker -- including the provision allowing a single member of the House to call for a vote to oust him (the now-famous "motion to vacate"). But while it takes just one member to call for such a vote, it requires a majority to actually remove the speaker.

McCarthy could survive a rebellion from a handful of renegade Republicans -- but he could not survive such a rebellion if Democrats go along with it.

Gaetz has said he expected Democrats to save McCarthy. Many others did too.

As recently as Tuesday morning, House Minority Leader Hakeem Jeffries suggested a way out of this for McCarthy. In an interview on MSNBC, he said House rules should be changed so that a single member could not force a vote on removing the speaker. Jeffries could deliver the votes to save McCarthy's job and the votes to change the rules to make it impossible for Gaetz to pull off a stunt like this again.

But Democrats would have a price for doing that. What would McCarthy offer in return? An end to the impeachment inquiry in President Joe Biden and his family? A guarantee that McCarthy honors the deal he struck on spending with the White House? Power sharing?

McCarthy has developed a cordial relationship with Jeffries, but he signaled no willingness to give Democrats anything in exchange for keeping the job.

In fact, McCarthy's actions have made it virtually impossible for Jeffries to throw him a lifeline. The speaker unilaterally launched the impeachment inquiry and just Saturday infuriated Jeffries by attempting to jam Democrats on a bill to keep the government funded for 45 days.

Back in January -- and again last month on impeachment -- McCarthy showed he was willing to do almost anything to appease his right-wing critics to get and keep his job. That worked for a while -- but it has made it virtually impossible to get Democrats to save him now.

-ABC News Chief Washington Correspondent Jonathan Karl