2014-06-12T150458Z_2_LYNXMPEA5B0NU_RTROPTP_2_FINANCIAL-REGULATION-VOLCKER

Texas Republican Hensarling says won't seek majority leader job

Chairman of the House Financial Services Committee, Hensarling questions financial regulators about the effects of the Volcker RuleRepublican Representative Jeb Hensarling of Texas said on Thursday he will not run for majority leader of the U.S. House of Representatives to replace Eric Cantor, who is stepping down. Hensarling, chairman of the House Financial Services Committee, said in statement: “After prayerful reflection, I have come to the conclusion that this is not the right office at the right time for me and my family.” Cantor said on Wednesday he would step down from his post as the No. 2 House Republican on July 31 following his surprising primary defeat on Tuesday to David Brat, an economics professor with strong support from the Tea Party movement. Cantor on Wednesday said he backed Representative Kevin McCarthy of California for majority leader.

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