In a shocking development that first broke during the night, a new report is stating that Speaker of the House Paul Ryan is set to announce his retirement from Congress.

Ryan is set to hold a closed-door meeting with GOP leadership where he will inform them he is not seeking reelection in 2018.

The Daily Wire has the latest:

CNN confirmed the report early Wednesday. Ryan has yet to make any official announcement, though a source told CNN that Ryan had already spoken to House Majority Leader Kevin McCarthy.

Ryan is just the latest in a string of high-profile Republican retirements that began after President Donald Trump assumed office in 2017. Many of the Members of Congress choosing not to seek re-election have clashed publicly with the President — and Ryan is no exception.

Ryan has been in Congress since 1999, earning his seat — and then his Speakership — on the promise of economic reforms. Although his tax reform and spending plans earned high praise from fiscal conservatives, the GOP has, more recently, taken a turn to economic populism, passing a massive, trillion-dollar budget on Ryan’s watch (though he did help pass landmark tax reform legislation in 2017).

Rumors began to swirl late last year that Ryan might either step down from his Speakership or retire from the House altogether. At the time, Ryan suggested the reports were mere gossip, and told reporters at the time that he would make a decision on his 2018 campaign sometime in “late spring.”

Ryan isn’t leaving his role in Congress until the end of his term and there’s rumors already swirling around that he might be attempting to position himself for a future White House run.

In some ways it’s not surprising to see Speaker Ryan calling it quits, particularly since he’s not exactly done a bang up job of getting things accomplished during his time in office.

With control of both houses and the presidency firmly on the Republican side, we should’ve seen the end of Obamacare, the border secured, and spending slashed, but none of that has happened under Ryan’s watch.

Whether or not he makes a presidential bid later remains to be seen of course, but it does seem as though that’s likely to happen at some point.