US House Speaker Nancy Pelosi on Thursday said that she will not seek re-election to a party leadership position in the next Congress after Democrats lost control of the lower chamber after the midterm elections.
"There is no greater official honour for me than to stand on this floor and to speak for the people of San Francisco. This I will continue to do as a member of the House," Pelosi said in remarks on the chamber floor.
"And with great confidence in our caucus, I will not seek re-election to Democratic leadership in the next Congress," she added.
Pelosi said it is time for a new generation to lead the Democratic caucus. In 2018, Pelosi made an informal deal to limit her time as speaker to just four more years.
Democrats are slated to lose their majority in the House following midterm elections last week, with current Minority Leader Kevin McCarthy favoured becoming speaker under Republican control of the chamber.
On Wednesday, US President Joe Biden congratulated McCarthy for winning the majority in the House of Representatives and vowed to cooperate with his political rivals to deliver results for the American people.
"I congratulate Leader (Kevin) McCarthy on Republicans winning the House majority, and am ready to work with House Republicans to deliver results for working families," Biden said in a press release on Wednesday. "I will work with anyone - Republican or Democrat - willing to work with me to deliver results for them."
Biden said the future of the US is too promising to be trapped in political warfare and the American people want the federal government to get things done for them.
US Congressman Mike Garcia's re-election victory was confirmed on Wednesday evening, providing enough mandates to tilt the scale of power in the House of Representatives from Democrats to Republicans.
While Republicans have been projected to win a majority in the lower chamber of Congress by securing at least 218 seats, Democrats retained the majority in the Senate after the midterm elections.
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