House speaker Paul Ryan reportedly says he won't seek re-election

Reflecting on his relatively brief tenure as speaker, Ryan said, "I have accomplished much of what I came here to do".

Friends said Ryan was ready to step down after passing a tax reform bill, one of his longtime goals, Axios reported.

House Speaker Paul Ryan's announcement that he won't seek another term has made his wife happy - and a little tearful.

The House speaker has scheduled a news conference for 10 am local time. The Democratic Party controls 192 seats.

Ryan also suggested that he intends to finish his full term as a member of the House and will not retire early.

Reflecting on his almost two decades in Congress, Ryan said he's "incredibly proud" of what he's accomplished on Capitol Hill, including passing tax overhaul legislation and working to rebuild the US military.

The Ryan campaign could also use the money to wind down offices, pay for moving expenses, pay committee staff and even give gifts to supporters, an FEC spokeswoman said.

Speaker of the House Paul Ryan (R-WI) announced his retirement at the end of his current term in January. "We are with you Paul!"

Ryan, who once ran for vice president on a ticket with Mitt Romney, had shared an uneasy relationship with Trump.

In fact Trump, on cue, took to his Twitter page to praise Ryan ...

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Rather than go down with the ship - or perhaps suffer the same fate as Tom Foley in 1994, the last sitting speaker to lose a re-election race - Mr Ryan is reserving his seat on a lifeboat. A source close to Ryan said this was not true, however.

I am really proud of what we have been able to do.

Ryan in 2016 initially hesitated to endorse Trump after it became clear the wealthy NY real estate developer would become the party's presidential nominee, but eventually did so. He said he was announcing his retirement now because to run for re-election and then retire would have been the dishonest thing to do.

He said his decision is what's best for his family. "The wear and tear of his position is something that none of us can actually relate to and we respect him for making a tough decision, leaving a pinnacle of power to do what a dad needs to do".

Ryan's departure is a blow for Republicans as they scramble to protect their Senate and House majorities in the midterms.

McCarthy and Scalise of Louisiana are among the contenders congressional observers see as most likely to replace Ryan.

Ryan's announcement is certain to set off a major succession battle.

"The Speaker has been an avid advocate for his point of view and for the people of his district", House Minority Leader Nancy Pelosi (D-Calif.) said in a statement. The economy is strong, we have given Americans greater confidence in their lives, and I have every confidence that I'll be handing this gavel on to the next Republican Speaker of the House next year.

Ryan was a fiscal conservative, but his efforts to be a more pragmatic leader led to conflicts with hard-liners in the GOP conference. Will there be a conservative alternative to the current leadership team to succeed Ryan?

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