Former US House Speaker Kevin McCarthy announces he will not run for Speaker position again, House Republicans to hold election.

Kevin McCarthy, the former US House speaker, has announced that he will not run for the position of Speaker of the House again. This decision comes after McCarthy was ousted from his leadership position on Tuesday. McCarthy informed members of his conference that he will not run for Speaker and will have the conference pick someone else. House Republicans will now hold an election for the position of Speaker next Wednesday.

McCarthy plans to give a statement regarding his decision at 7:30 p.m. ET/4:30 p.m. PT.