Wednesday's buzziest political development comes from Axios, which broke the news that Paul Ryan has decided not to run for re-election. The House Speaker's office made that official with a statement explaining "this morning Speaker Ryan shared with his colleagues that this will be his last year as a member of the House. He will serve out his full term, run through the tape, and then retire in January. After nearly twenty years in the House, the speaker is proud of all that has been accomplished and is ready to devote more of his time to being a husband and a father. While he did not seek the position, he told his colleagues that serving as speaker has been the professional honor of his life, and he thanked them for the trust they placed in him."
As for what fueled the decision, which has been rumored for some time, satisfaction is reportedly one: Tax reform had long been Ryan's goal, and now that he achieved it, he's ready to bow out, Axios' Jonathan Swan told MSNBC. Another potential factor, per Swan: He's "staring down the barrel frankly of potentially losing the House in November. I don't know that Paul Ryan, minority leader, is a particularly appealing title." President Trump had this to say in a tweet: "Speaker Paul Ryan is a truly good man, and while he will not be seeking re-election, he will leave a legacy of achievement that nobody can question. We are with you Paul!" (Read more Paul Ryan stories.)