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Congressional Roundup: Major Retirements 

December 11, 2023

House Financial Services Chairman Patrick McHenry (R-NC) surprised many last week when he announced he would not run for re-election in 2024 and plans to retire at the end of his term. Former Speaker Kevin McCarthy (R-CA) announced he will resign a the end of the year, which had been widely expected after his ouster.

Why it matters: Looking at Congress overall, this is the most rapid pace of retirements in over a decade. McHenry’s retirement opens up a race in Financial Services to succeed him as the top Republican.

By the numbers: 38 members of Congress—seven members of the U.S. Senate and 31 members of the U.S. House—announced they would not seek re-election in 2024. Reasons for the House departures break down as follows:

• 11 (2 Republicans and 9 Democrats) are running for the U.S. Senate.
• 2 (1 Democrat and 1 Republican) are running for state attorney general.
• One Democrat is running for governor.
• One Democrat is running for President of the United States.
• 16 (9 Democrats and seven Republicans) are retiring from public office.

The big picture: While some retirements create opportunities for seats to flip, the key impact in safe seats will be in the primaries. An open primary gives more extreme candidates a smoother path to victory without a well-funded incumbent in the way.

Contact David McCarthy (dmccarthy@crefc.org) and James Montfort (jmontfort@crefc.org) for more information. 

38 Members of Congress have announced their retirement as of Dec. 8. 

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