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GOP Rep. Kevin Brady won't seek reelection

Rep. Kevin BradyKevin Patrick BradyGAO report finds maternal mortality rates higher in rural, underserved areas Republicans attack Biden agenda after disappointing jobs report Bad jobs report amplifies GOP cries to end 0 benefits boost MORE (Texas), the top Republican on the House Ways and Means Committee, announced Wednesday that he will not seek reelection next year after serving since 1997.

Brady is term-limited in his role as the top Republican on the powerful panel with jurisdiction over the tax code, meaning he wouldn't be able to keep the position in the next session of Congress. He previously served as the committee's chairman from 2015 to 2019, including while Republicans enacted their 2017 tax overhaul under former President TrumpDonald TrumpWarren says Republican party 'eating itself and it is discovering that the meal is poisonous' More than 75 Asian, LGBTQ groups oppose anti-Asian crime bill McConnell says he's 'great admirer' of Liz Cheney but mum on her removal MORE.

"This term, my 13th, will be the last," Brady said during remarks before the Woodlands Area Chamber of Commerce Economic Outlook Conference.

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He acknowledged that the House GOP's internal rule limiting members to six consecutive years of committee leadership at a time played a role in his decision to retire.

"Did that factor in? Honestly, some," Brady said.

"But as I see it, our committee leader term limits ensure lawmakers who work hard and effectively have the opportunity to lead, to bring fresh ideas to our committee work. In my view, it’s a good thing. And the great news is that our Ways and Means Committee is incredibly talented. I’m confident about its future," he added.

Brady's district outside Houston is a GOP stronghold and is not expected to become competitive for Democrats in next year's midterm elections.

Brady's retirement will set off a race among House Republicans for the coveted top slot on the House Ways and Means Committee. Rep. Devin NunesDevin Gerald NunesMcCarthy unveils House GOP task forces, chairs Former GOP operative installed as NSA top lawyer resigns Sunday shows preview: Russia, US exchange sanctions; tensions over policing rise; vaccination campaign continues MORE (Calif.) is the next most senior Republican on the panel, followed by Reps. Vern BuchananVernon Gale BuchananMORE (Fla.) and Adrian SmithAdrian Michael SmithOn The Money: Senate confirms Gensler to lead SEC | Senate GOP to face off over earmarks next week | Top Republican on House tax panel to retire GOP Rep. Kevin Brady won't seek reelection Small cities fret over feds redefining metro areas MORE (Neb.).

Nunes currently serves as the top Republican on the House Intelligence Committee after previously serving as its chairman while Republicans held the House majority. Nunes would have to give up his Intelligence Committee post if he chose to run for the Ways and Means role.