Pelosi steps down as Dems leader, not to seek re-elections next term
2 Min Read
This comes after Democrats lost control of the House in the midterm elections, ending decades of Congressional leadership.
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As of October 2022, Nancy Pelosi has an estimated net worth of $120 Million
US House Speaker Nancy Pelosi announced on Thursday that she will not seek reelection to a party leadership position in the next Congress.
"There is no greater official honor 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 during remarks on the chamber floor.
"And with great confidence in our caucus, I will not seek reelection to Democratic leadership in the next Congress."
‘I look forward to the unfolding story of our nation, a story of light and love, of patriotism and progress, of many becoming one’ — Nancy Pelosi as she steps down as Speaker of the House pic.twitter.com/Cqbt2Meoba
— NowThis (@nowthisnews) November 17, 2022
This comes after Democrats lost control of the House in the midterm elections, ending decades of Congressional leadership.
NEW: Pres. Biden after Speaker Pelosi steps down from House Democratic leadership: “When I think of Nancy Pelosi, I think of dignity. History will note she is the most consequential Speaker of the House of Representatives in our history.”
— Rhapsody🕊️ (@Rhapsody_Deviac) November 17, 2022
Source: @ABCPolitics pic.twitter.com/iT9uDcsgjO
As of October 2022, Nancy Pelosi has an estimated net worth of $120 Million. Paul Pelosi, Nancy's husband, has been caught having dealt with five shady companies over the past many years. Interestingly, he has never been charged for any of his criminal conduct.
In 2018, Pelosi placed an end date on her tenure as the top House Democratic leader, scheduling her speakership to end within a four-year period.
On November 15, House Republicans announced they elected Kevin McCarthy as their nominee for Speaker for the 118th Congress.
As he stands to be the current minority Leader widely favored to become Speaker, the Democrats are set to lose their majority as Republicans secured the 218 seats needed for a majority in the lower chamber of Congress a week after the midterm elections.
Read more: Republicans take back the House in narrow 7-seat lead; Congress split
