After two decades, House Speaker Nancy Pelosi (D-California) announced on Thursday that she will not seek another term as Democratic leader.

Pelosi became the first woman to hold the position of House speaker in 2007 and then again in 2019, but she says now is the time to allow a new generation to take leadership.

“Now we must move boldly into the future, grounded by the principles that have propelled us this far and open to fresh possibilities for the future,” Pelosi said. “With great confidence in our caucus, I will not seek reelection to Democratic leadership in the next Congress. For me, the hour has come for a new generation to lead the Democratic caucus.”

Three names swirling around Washington as possible successors include Caucus Vice Chairman Pete Aguilar (D-California), Caucus Chairman Hakeem Jeffries (D-New York) and Assistant Speaker Katherine Clark (D-Massachusetts).

On Friday afternoon, Jeffries announced he would run for minority leader.

Pelosi will remain a member of Congress – she was just overwhelmingly elected to another term earlier this month.

During her tenure as Democratic leader, Pelosi became known for advocating for policies that increase women’s rights, including leading efforts to codify the rights given in Roe v. Wade, and passage of the Affordable Care Act, better known as Obamacare.

Pelosi ended her speech with a call for unity in a time when politics and the two parties have become increasingly polarized.

“We owe to the American people our very best, to deliver on their faith,” she said. “To forever reach for the more perfect union — the glorious horizon that our founders promised.”

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