Rep. Dreier: Congress 'as great as it has ever been'

"We all know that this institution has an abysmally low approval rating, and the American people are asking for change in Congress, and so I'm announcing today that I will leave the Congress at the end of this year," the 16-term member joked.

Dreier is the eighth House Republican to announce his retirement this year, and the fourth Republican from California. Seven other House Republicans have decided to run for higher office.

Dreier said he decided to announce his retirement on the floor because he is a "proud institutionalist."

"I believe that this institution is as great as it has ever been," he said. "And I announce it here because … this is where the people of California sent me to represent them."

Read more on The Hill's Floor Action blog.