House Speaker Paul Ryan announcing retirement

Paul Ryan announces retirement

A spokesman for Republican House Speaker Paul Ryan says he will serve out his term before retiring in January.

Counselor Brendan Buck says "the speaker is proud of all that has been accomplished. He said Ryan is ready to devote more of his time to being a husband and a father."

Buck says Ryan will discuss his decision at a news conference Wednesday.

Buck says while Ryan did not seek the position of speaker, "he told his colleagues that serving as speaker has been the professional honor of his life, and he thanked them for the trust they placed in him."

Ryan, a 48-year-old Republican from Janesville, Wisconsin was first elected to Congress in 1998.

He became speaker in 2015 after former House Speaker John Boehner of Ohio retired.

Ryan was former GOP presidential nominee Mitt Romney's running mate in 2012

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