Top House Republican announces retirement

WASHINGTON—Rep. Jeb Hensarling, R-Texas, chairman of the influential House Financial Services Committee, announced Tuesday he will not seek reelection 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,” he said in a statement. Hensarling, 60, first won a seat in Congress in 2002. He is approaching the final year of his six-year run chairing the Financial Services Committee—he cited that and a desire to spend more time with his family as reasons to step down. As the Financial Services chairman, Hensarling has played an integral role in the formation of the soon-to-be-announced GOP tax plan. Hensarling said he has every intention of seeing tax reform through to the end during the final 14 months of his term. House Speaker Paul Ryan, R-Wis., praised Hensarling for his service: “He is a true constitutional conservative who understands that free enterprise is critical to a thriving America. I am going to miss him and this institution will miss him, but knowing Jeb, I’m positive he has a great chapter ahead.” Hensarling is the 10th House member to announce retirement plans this year and the 8th Republican to do so. Three others have resigned or plan to resign before the end their term.