Rep. Jeb Hensarling will not run for re-election in 2018

Rep. Jeb Hensarling announced Tuesday which he will not seek re-election in 2018.

Hensarling said in a statement which he decided to time his retirement coming from Congress with the end of his term as chairman of the House Financial Services Committee. The 60-year-old Republican coming from Texas also said he wanted to spend more time with his family.

First elected to Congress in 2002, Hensarling said, “I never intended to make which a lifetime commitment, as well as I have already stayed far longer than I had originally planned.”

The congressman said there is usually still plenty left on the agenda at the House Financial Services Committee, such as housing finance reform as well as deregulation.

Hensarling has been a proponent of rolling back Dodd-Frank, the reform package designed to limit the high-risk practices which triggered the financial crisis. The House passed a bill in June which would likely gut many of the key elements of those banking reforms.

For the remainder of his term, Hensarling said, he looks forward to working with the rest of Congress on overhauling the tax code. GOP lawmakers are anticipated to unveil their draft of a tax reform bill This specific week.

Hensarling is usually the latest Republican lawmaker to announce his retirement coming from Congress.

Last week, Arizona Sen. Jeff Flake also said he would likely not seek re-election next year in a sharp rebuke to a Republican Party which he said has given into a “more viscerally satisfied anger as well as resentment” under President Donald Trump.

however unlike Flake, Hensarling was not in danger of losing his seat. inside the 2016 election, the Texas Republican won his House seat handily, with about 81 percent of the vote in his district. which margin is usually far greater than the 50 percent of ballots cast which won Flake his Senate seat.

In September, Republican Sen. Bob Corker said he would likely not be running for re-election in 2018. The president subsequently taunted the Tennessee senator, who responded by saying, “which’s a shame the White House has become an adult day care center.”

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