House Financial Services Chairman Jeb Hensarling announced he won’t seek re-election in 2018 on Thursday.
The news comes just one day ahead of the lower chamber’s plans to release its tax reform plan and two days before President Donald Trump is expected to announce the new chairman of the Federal Reserve.
The Texas Republican was slated to term out of his role as chairman of the powerful committee in 2018.
“Today I am announcing that I will not seek reelection to the US Congress in 2018,” he told his colleagues in an email. “Although service in Congress remains the greatest privilege of my life, I never intended to make it a lifetime commitment, and I have already stayed far longer than I had originally planned.”
Hensarling, who was at times at odds with GOP leadership on key issues, cited wanting to spend more time with his family as one of the reasons for his departure. He stressed, however, he remains committed to working on helping the party accomplish their top priorities in the time he remains in office.
“Although I will not be running for reelection, there are 14 months left in my congressional term to continue the fight for individual liberty, free enterprise, and limited constitutional government – the causes for which I remain passionate. Much work remains at the House Financial Services Committee in the areas of housing finance reform, regulatory relief, cyber security and capital formation to name just a few. Furthermore, important work remains in the Congress as a whole – especially pro-growth tax reform. I look forward to continuing this work on behalf of the people of the 5th District of Texas and all Americans.”
“Although I will not be running for reelection, there are 14 months left in my congressional term to continue the fight for individual liberty, free enterprise, and limited constitutional government – the causes for which I remain passionate,” he said. “Much work remains at the House Financial Services Committee in the areas of housing finance reform, regulatory relief, cyber security and capital formation to name just a few. Furthermore, important work remains in the Congress as a whole – especially pro-growth tax reform.”
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