"Today I am announcing that I will not seek reelection to the US Congress in 2018. Although service in Congress remains the greatest privilege of my life, I never intended to make it a lifetime commitment, and I have already stayed far longer than I had originally planned.
Throughout this time, my family has graciously sacrificed for my service. As the parents of two teenagers, Melissa and I know there are only a few years left before they leave and make their own way in life.
I want to be there for those years. Since my term as Chairman of the House Financial Services Committee comes to an end next year, the time seems right for my departure.
Although I will not be running for reelection, there are 14 months left in my congressional term to continue the fight for individual liberty, free enterprise, and limited constitutional government – the causes for which I remain passionate. Much work remains at the House Financial Services Committee in the areas of housing finance reform, regulatory relief, cyber security and capital formation to name just a few. Furthermore, important work remains in the Congress as a whole – especially pro-growth tax reform. I look forward to continuing this work on behalf of the people of the 5th District of Texas and all Americans.
I am sure we will continue communicating over the months to come, but please know how grateful I am for your help, support and friendship through the years. I could not be more appreciative of the opportunity to serve our republic and of the trust you have placed in me to advance the principles we share."