http://news.yahoo.com/s/nm/20051101/pl_nm/congress_oxley_dc
QUOTE
Oxley won't seek re-election in 2006
2 hours, 1 minute ago
U.S. Rep. Michael Oxley (news, bio, voting record), chairman of the powerful House Financial Services Committee and an Ohio Republican, said on Tuesday he would not seek re-election in 2006, after serving 25 years in Congress.
Oxley, 61, co-sponsored the 2002 Sarbanes-Oxley legislation that called for more accountability and transparency in U.S. companies after a string of corporate scandals at firms including Enron Corp. and WorldCom Inc.
Oxley became chairman of the House Financial Services Committee in 2001 as the committee's jurisdiction was expanded to include securities and insurance issues in addition to banking matters. Under House rules, Oxley's six-year chairmanship would expire in early 2007.
A Republican party aide said likely candidates for heading the committee if the House remains in Republican hands after the 2006 elections include Rep. Richard Baker (news, bio, voting record) of Louisiana, Rep. Deborah Pryce (news, bio, voting record) of Ohio and Rep. Spencer Bachus (news, bio, voting record) of Alabama.
More recently Oxley pushed through the House of Representatives a bill to overhaul regulation of mortgage finance giants Fannie Mae and Freddie Mac. The bill still must go through the Senate, which is seen as unlikely this year.
Oxley, previously a special agent in the Federal Bureau of Investigation and a private practicing attorney, did not say what he planned to do after leaving office.
"There comes a time to move on," Oxley said in a statement.
While Ohio was a battleground state in the 2004 presidential campaign, Oxley easily won re-election in his central Ohio district that year with an 18-point margin over his Democratic challenger.
2 hours, 1 minute ago
U.S. Rep. Michael Oxley (news, bio, voting record), chairman of the powerful House Financial Services Committee and an Ohio Republican, said on Tuesday he would not seek re-election in 2006, after serving 25 years in Congress.
Oxley, 61, co-sponsored the 2002 Sarbanes-Oxley legislation that called for more accountability and transparency in U.S. companies after a string of corporate scandals at firms including Enron Corp. and WorldCom Inc.
Oxley became chairman of the House Financial Services Committee in 2001 as the committee's jurisdiction was expanded to include securities and insurance issues in addition to banking matters. Under House rules, Oxley's six-year chairmanship would expire in early 2007.
A Republican party aide said likely candidates for heading the committee if the House remains in Republican hands after the 2006 elections include Rep. Richard Baker (news, bio, voting record) of Louisiana, Rep. Deborah Pryce (news, bio, voting record) of Ohio and Rep. Spencer Bachus (news, bio, voting record) of Alabama.
More recently Oxley pushed through the House of Representatives a bill to overhaul regulation of mortgage finance giants Fannie Mae and Freddie Mac. The bill still must go through the Senate, which is seen as unlikely this year.
Oxley, previously a special agent in the Federal Bureau of Investigation and a private practicing attorney, did not say what he planned to do after leaving office.
"There comes a time to move on," Oxley said in a statement.
While Ohio was a battleground state in the 2004 presidential campaign, Oxley easily won re-election in his central Ohio district that year with an 18-point margin over his Democratic challenger.