“The speaker is proud of all that has been accomplished and is ready to devote more of his time to being a husband and a father,” said Brendan Buck, counselor to Ryan, adding that Ryan plans to serve out his term and retire in January.
The decision comes ahead of mid-term elections that were already looking treacherous for Republicans, who risk losing control of the House.
The party has seen a large number of retirements, and Ryan’s exit is certain to sap morale as Republicans seek to contain a surge in enthusiasm from Democrats, whose fortunes have been buoyed by the unpopularity of President Donald Trump.
Shortly before Ryan was scheduled to hold a news conference announcing his retirement, Trump tweeted that Ryan is “a truly good man and while he will not be seeking re-election, he will leave a legacy of achievement that nobody can question.”
Applause could be heard outside Ryan’s office shortly before 9 a.m. as he was meeting with staff. He shared the news with GOP lawmakers in a closed door meeting shortly afterward.
“He is not running for reelection,” said Rep. Mark Meadows, R-N.C., chairman of the House Freedom Caucus. “He has had an outstanding legacy as a conservative policy thought leader and will be successful in any future endeavor.”
The two Republicans most likely to replace Ryan are House Majority Leader Kevin McCarthy, Calif., and House Majority Whip Steve Scalise, La.
Ryan, 48, was the vice presidential nominee in 2012 on the GOP ticket with Mitt Romney.
He had long championed tax reform, a goal accomplished with the passage last year of the sweeping GOP tax bill.