House Speaker Paul Ryan will soon announce that he won't run for re-election, according to confidants.

The 48-year-old Wisconsin Republican has privately told associates that he is leaving Congress after passing a tax reform bill late last year that favors wealthy campaign donors, reported Axios.

The decision has been long rumored, the website reported, but he has not yet made a public decision.

Ryan, a former vice presidential candidate, could make the announcement as soon as Wednesday, although friends say he may run again for another office.