House Speaker Nancy Pelosi to step down from congressional leadership role

It has been reported that House Speaker Nancy Pelosi, who became Speaker of the House in 2007, announced that she will step down from her congressional leadership role, ending a two-decade streak as the top House Democrat. This follows signs that the Democrats will narrowly lose their House majority to Republicans following the midterm elections. She will remain a Congress member where she has been since 1987.

CNBC reported that ''current House Minority Leader Kevin McCarthy, R-Calif., is considered the top candidate to become speaker in the next Congress. On Tuesday, McCarthy won a party vote to become the GOP nominee for speaker, though he secured fewer votes than the 218 he will need when the full House casts its leadership votes in early January.''