Republican Rep. McHenry slated to retire at end of term

• McHenry served three weeks as interim speaker as lawmakers struggled to tap a replacement for former Speaker Kevin McCarthy (R-Calif) — a close ally — following his ouster from in leadership in October.
• McHenry played a leading role in negotiating key pieces of legislation, including the debt ceiling deal earlier this year.
• He has also served as House Majority Leader Steve Scalise’s chief deputy whip, having overseen much of the whip’s duties while the Louisiana Republican recovered from injuries incurred at the 2017 congressional baseball shooting.

Of note: McHenry was slated to term out of his chairmanship at the end of this term.

• Multiple lawmakers speculated he was likely to exit, noting that he is likely to receive multiple lucrative job offers due to his position on the committee.

The big picture: Retirements have been a concern for some within the Republican party in terms of their ability to retain the majority.

• And McHenry's exit is expected to tee up a race for the coveted gavel.

Go deeper: Lawmakers are ditching Congress at a record pace