Rep. Barney Frank (D-Mass.) will not seek reelection in 2012, according to WBZ News Radio.
CNN has confirmed the news with the Democratic congressman's office. Frank addressed his decision to forgo running for another term at a press conference at a press conference in his hometown of Newton, Mass.
Frank said he originally intended to run for one more term, but that his decision was partially due to the fact that the state's new redistricting map will include many people he has never represented before.
Frank said he has had a "busy and stressful" four years dealing with financial reform after the recession.
He says he plans to write and stay involved in public policy decisions.
Sixteen other Democrats have announced plans not to seek new House terms in 2012, compared with six Republicans.
The Boston Globe reported earlier that according to a close adviser to Frank, the new congressional district in which the Massachusetts Democrat would have run to represent was a big factor in his decision to retire.
While it retained his Newton stronghold, it was revised to encompass more conservative towns while Frank also lost New Bedford, a blue-collar city where he had invested a lot of time and become a leading figure in the region’s fisheries debate.
Frank was first elected to the U.S. House of Representatives in 1980. He was one of the first lawmakers to announce publicly that he is gay.
Frank is the ranking Democrat on the House Financial Services Committee. As chairman, he helped shepherd to passage legislation that provided the most extensive overhaul of the nation's financial system in decades. The measure was a response to the near collapse of the banking industry in 2008 and disclosures about Wall Street practices that stirred mass anger.
More than two decades ago, Frank was reprimanded by the House for using his congressional status on behalf of a male prostitute whom he had employed as a personal aide, including seeking dismissal of 33 parking tickets.
"I should have known better. I do now, but it's a little too late," Frank said at the time.
Democrats rebuffed Republican calls for Frank's expulsion, and instead, the Massachusetts Democrat resumed a career that far outlasted many of those who had sought his ouster.
President Obama addressed Frank's announcement in a statement Monday:
This country has never had a Congressman like Barney Frank, and the House of Representatives will not be the same without him. For over 30 years, Barney has been a fierce advocate for the people of Massachusetts and Americans everywhere who needed a voice. He has worked tirelessly on behalf of families and businesses and helped make housing more affordable. He has stood up for the rights of LGBT Americans and fought to end discrimination against them. And it is only thanks to his leadership that we were able to pass the most sweeping financial reform in history designed to protect consumers and prevent the kind of excessive risk-taking that led to the financial crisis from ever happening again. Barney's passion and his quick wit will be missed in the halls of Congress, and Michelle and I join the people of the Bay State in thanking him for his years of service.
Frank's office released the following statement from the Congressman:
I will not be a candidate for reelection to the House of Representatives in 2012.
I began to think about retirement last year, as we were completing passage of the financial reform bill. I have enjoyed--indeed been enormously honored--by the chance to represent others in Congress and the State Legislature, but there are other things I hope to do before my career ends. Specifically, I have for several years been thinking about writing, and while there are people who are able to combine serious writing with full-time jobs, my susceptibility to distraction when faced with a blank screen makes that impossible.
In 2010, after the bill was signed into law, I had tentatively decided to make this my last term. The end of next year will mark 40 years during which time I have held elected office and a period of 45 years since I first went to work in government full time as an aide to Mayor Kevin White in late 1967.
But with the election of a conservative majority in the House, I decided that my commitment to the public policies for which I have fought for 45 years required me to run for one more term. I was--and am--concerned about right-wing assaults on the financial reform bill, especially since we are now in a very critical period when the bill is in the process of implementation. In addition, recognizing that there is a need for us to do long-term deficit reduction, I was--and am--determined to do everything possible to make sure that substantial reduction in our excessive overseas military commitments forms a significant part of the savings over the next 10 years.
But, my concern for these two issues today cuts very much in the opposite direction--namely, in favor of forgoing a year-long full-time election campaign and instead focusing the next year on those two issues in Congress.
Two factors lead me to this view. The newly configured district contains approximately 325,000 new constituents, many of them in a region of the state that is wholly new to me as a Member of Congress. A significant number of others are in the area along our east-west border with Rhode Island which I have not represented for 20 years. This means that running for reelection will require--appropriately in our democracy--a significant commitment of my time and energy, introducing myself to hundreds of thousands of new constituents, learning about the regional and local issues of concern to them and, not least importantly, raising an additional 1.5 to 2 million dollars.
This would compete with two other obligations which I neither want to nor can avoid. First, I will continue to represent hundreds of thousands of people in the current 4th District to whom I am committed as the person they voted for a year ago. I have acquired a strong attachment to many of the people and causes I have worked with here. The Congressional redistricting removes from the district I represent virtually the entire fishing industry of Southeastern Massachusetts. It very substantially reduces the number of Azorean-Americans I will represent, and again removes almost completely people of Cape Verdean ancestry. Introducing myself and learning about the new area while continuing to give the existing area the full representation it deserves would make demands of my time that would detract from my focus on the national issues.
There is another, equally important consequence of the fact that so many of the people in this district would be new constituents that help persuade me to announce my retirement. The obligation of a Member of Congress to work as an advocate for the people he represents on local and regional issues that require or involve Federal government response are of paramount importance. And I am proud of the work I have done in that regard for the people I have been privileged to represent over these years. But as in almost every case, where there were significant local or regional issues involving environmental matters, transportation matters, housing matters etc., it took more than two years to resolve them. The relevance is that running again for one more term, I would be asking 325,000 new constituents to give me the mandate to be their advocate with the federal government for only two years. Starting on a series of projects only to be passing them along in various stages of incompletion to a successor two years later is not a responsible way to act.
There is one other factor that influenced my decision as I went through this year. Our politics has evolved in a way that makes it harder to get anything done at the federal level. I believe that I have been effective as a Member of Congress working inside the process to influence public policy in the ways that I think are important. But I now believe that there is more to be done trying to change things from outside than by working within. I am announcing today my retirement from elected office after 40 years but not my retirement from public policy advocacy and given the nature of our current situation, in some ways I believe I may have more impact speaking, writing and in other ways advocating for the changes that I think are necessary than trying to bring them about inside our constricting political process.
In summary, I am required to choose. I have to choose between fulfilling my obligation as a ranking member of the Financial Services Committee on behalf of financial reform and my responsibility to continue to be a full representative of the people who voted for me in 2010, and on the other hand to engage in a full-fledged Congressional campaign in a district which is very different than the current one. I am also required to choose between concentrating my efforts on trying to change the political equation in the country over the next year and doing the best I can within the conflicts and restrictions of the current set of forces. Given this, I am going to do what Massachusetts politicians often do, quote a former President from Massachusetts, although not the one usually cited. I do not choose to run for reelection in 2012.
The political world reacts to Barney Frank's retirement: