GOP House Chairman To Resign

House Financial Services Committee Chairman Jeb Hensarling (R-Texas) announced Tuesday that he will retire at the end of his term.

“Today I am announcing that I will not seek reelection to the U.S. Congress in 2018. 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 said.

Hensarling will be forced to step down from his position as chairman after three terms leading the Financial Services Committee due to GOP rules. The chairman said the term limits marked the right time to leave Congress to spend more time with his family.

Talk of Hensarling’s possible retirement had started to pick up before the Dallas Morning News first reported his departure on Tuesday.

Read more at The Hill.