U.S. Representative Michele Bachmann, a former Republican presidential hopeful and a leader of the anti-tax Tea Party movement, said she won’t run for re-election, retiring from the House amid an ethics inquiry.
“I have decided next year I will not seek a fifth congressional term,” Bachmann, of Minnesota, said today in a video posted on her website. “My future is full, it is limitless and my passions for America will remain.”
Bachmann, 57, dropped out of the race for the Republican presidential nomination last year after a sixth-place finish in the Iowa caucuses. In her video, she said eight years was long enough for one person to serve a congressional district, though she had raised $678,666 for the 2014 campaign in the first three months of 2013.
Among the House’s most prolific fundraisers, Bachmann had $1.9 million in the bank as of March 31. She had started running a campaign TV ad in the Minneapolis-St. Paul area, spending $85,000 to tout her work against President Barack Obama’s health-care law.
She said her decision to step aside wasn’t related to ethics inquiries into her presidential campaign and its staff.
Read More at Business Week . By Heidi Przybyla and Andrew Frye.