UPDATE: Paul Ryan announced he will not seek re-election.

#HappeningNow: At GOP Conference where @SpeakerRyan just announced he will not seek re-election. pic.twitter.com/1SfDsu4ps8 — Steve Pearce (@RepStevePearce) April 11, 2018

House Speaker Paul Ryan has told confidants that he will announce soon that he won’t run for reelection in November, according to sources with knowledge of the conversations.

This decision has been long rumored but his final deliberations were held extremely closely.

Ryan, 48, was the Republican vice presidential nominee in 2012, and has long harbored presidential ambitions. Friends say he could make another run in the future.

Friends say that after Ryan passed tax reform, his longtime dream, he was ready to step out of a job that has become endlessly frustrating, in part because of President Trump.

Friends say Ryan was contemplating a minority or slim majority and decided that there was no good time to leave — it was time for at least a stint in private life. – READ MORE