Breaking news this morning as we’re learning that Speaker of the House and former vice presidential candidate Paul Ryan won’t be running for reelection. Ryan is supposed to be making the announcement tomorrow.

Axios just reported the breaking news:

House Speaker Paul Ryan has told confidants that he will announce soon that he won’t run for reelection in November, according to sources with knowledge of the conversations.

Why it matters: House Republicans were already in a very tough spot for the midterms, with many endangered members and the good chance that Democrats could win the majority.

One of Washington’s best-wired Republicans said:

“This is a Titanic, tectonic shift. … This is going to make every Republican donor believe the House can’t be held.” The announcement will help Senate Majority Leader Mitch McConnell (R-Ky.) in his fundraising because “the Senate becomes the last bastion,” the Republican said.

This is big. We’ve reported on rumored rumblings that Ryan was aiming to retire sometime soon after the passing of tax reform. In fact, the scuttlebutt is that Steve Scalise, the Majority Whip, is the Republican most likely to replace him as Speaker, granted that Republicans keep a House majority after November.

But this report is more substantial. We have a date for Ryan’s announcement. Now we just have to wait and see if it’s official.

Speaker Ryan has made no bones about his disagreements with President Trump, even going back to the campaign trail. It was never a comfortable working relationship. Now it seems like Ryan is throwing in the towel.

This is a breaking story. Please share it with your friends and family now. Paul Ryan is reportedly planning to retire!

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