House Financial Services Committee Chairman Jeb Hensarling formally announced he will not run for a leadership position in the House, making it more likely Majority Leader Kevin McCarthy will win the position of House Speaker.
Hensarling, R-Texas, was considered by many to be a viable and more conservative alternative to McCarthy and one with enough tenure and leadership experience to make a serious run at the top House post.
The House will soon hold an election to replace House Speaker John Boehner, R-Ohio, who announced last week he will retire on Oct. 30. Hensarling will not be among those jockeying for a top spot, however.
“After prayerful consideration, Chairman Hensarling is not a candidate for a leadership position,” Hensarling spokewoman Sarah Rozier said Monday.
Rozier said Hensarling will back House Budget Committee Chairman Tom Price, R-Ga., to become the next majority leader. Price is up against Majority Whip Steve Scalise, R-La., among other possible candidates seeking the No. 2 spot.
Hernsarling has drawn conservative support for his stance against Obama administration policies, including the Dodd-Frank Wall Street regulatory reform law. Hensarling also led the effort to eliminate the federally funded Export-Import Bank. Congress failed to renew the bank’s charter this summer after he lobbied strenuously against its existence, calling it a form of corporate welfare.
