Paul Ryan is set to retire from Congress

House Speaker Paul Ryan is nearing an announcement that he will not run for reelection, according to multiple reports.

Axios' Jonathan Swan reported Wednesday that the Wisconsin Republican has been telling confidants that he will not run again. Axios said that Ryan has told friends that after passing tax reform and with a tough midterm landscape ahead, now is the right time to step away.

Ryan has long pushed for a major overhaul of the tax code, a goal the GOP accomplished in December. Following the passage of the massive tax reform bill, rumors began swirling that Ryan may not run again. According to reports, Ryan will serve out his full term and will inform fellow Republicans on Wednesday during a meeting of the GOP conference.

The move also comes as a slew of Republican House members, including many committe chairmen, announced retirements in anticipation of a tough 2018 midterm season for the GOP.

A spokesperson for Ryan did not immediately return a request for comment.

Ryan first entered the House in 1999 and eventually became the chair of the Budget and Ways and Means committees. In 2012, Ryan was tapped by Mitt Romney as the vice presidential nominee. After the failed bid, Ryan took over as House Speaker in 2015 following the retirement for John Boehner.

If Ryan does in fact decide against seeking reelection, House Majority Leader Kevin McCarthy and House Majority Whip Steve Scalise could seek the House Speaker job, with McCarthy as the favorite.

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