Rep. Jeb Hensarling, chairman of the House Financial Services Committee, told constituents in a Tuesday email that he will not seek re-election in 2018.
The Texas Republican’s decision to retire next year was confirmed to the Washington Examiner by spokeswoman Stami Williams. She said Hensarling informed staff of his decision Tuesday afternoon.
Speculation has been building on Capitol Hill that Hensarling would not seek a ninth term, in part because House GOP rules mandate that he relinquish the House Financial Services gavel at the end of 2018, having served the maximum six years atop the committee, and has not made moves to reposition himself.
A handful of centrists and pragmatic conservatives have preceded Hensarling in heading for the exits, frustrated with President Trump and unhappy with the pace of legislative productivity on a Capitol Hill controlled entirely by their party. They include Republican Reps. Pat Tiberi of Ohio; Dave Reichert of Washington; and Charlie Dent of Pennsylvania. Rep. Fred Upton, R-Mich., could be next.
Hensarling doesn’t belong in this category.
A disciple of former Sen. Phil Gramm, R-Texas, the fiscal hawk whom he worked for as a congressional aide, Hensarling sees eye to eye with the Trump administration on most issues, notably dismantling the Dodd-Frank financial regulatory law signed by former President Barack Obama.
Occasionally mentioned as a possible House speaker, Hensarling served as the finance chairman of the National Republican Congressional Committee in 2010, the year the GOP won back the House in a huge wave. The Texan went on to serve as House Republican Conference Chairman, before becoming Financial Services chairman.
Sources say that House Speaker Paul Ryan, R-Wis., lobbied Hensarling to stick around for another term, possibly to become chairman of the House Budget Committee. “If Ryan serves two more years I think he would like to have Jeb around,” a Republican lobbyist said Monday before news of Hensarling’s retirement broke.
Hensarling’s Dallas-area congressional district is safe Republican territory, unlikely to be challenged by the Democrats. Although the House Financial Services gavel was to become available regardless, Hensarling announcing his retirement could accelerate the jockeying to replace him.
Top Republicans mentioned as possible successors include House Majority Chief Deputy Whip Patrick McHenry, R-N.C.
