Former Speaker Kevin McCarthy to resign from Congress at year end

Kevin McCarthy said Wednesday he will resign from Congress

McCarthy, the California Republican who was ousted as speaker by a faction of his own party two months earlier,

The announcement immediately rocketed McCarthy to the top of the private sector’s target list of former members of Congress

McCarthy was a prolific fundraiser as Republican leader and later speaker, where he built a deep network of CEOs

California’s 20th Congressional District is solidly Republican, so McCarthy’s departure is not likely to result

Newsom is required under state law to call a special election within two weeks of McCarthy’s seat becoming vacant

That special election must take place between 126 and 140 days later, though it may be able to coincide with California’s

When former Rep. Duncan Hunter, R-Calif., resigned in January of 2020, Newsom left the seat open for the next 10 months.

MCCarthy’s work in Congress will effectively end even earlier than the end of December: His announcement came the week before

hint about his future plans: “I look forward to helping entrepreneurs and risk-takers reach their full potential.”