Former U.S. House of Representatives Speaker Kevin McCarthy has put to rest speculation about his future in Congress, stating that he will finish his term and seek re-election. This comes amidst media reports suggesting that McCarthy would resign from Congress. McCarthy's position as House speaker was terminated after angering hardline critics within his party, marking the first time in U.S. history that a House speaker has been ousted.

Reports had claimed that McCarthy would step down from Congress and not partake in the race for a new speaker. However, McCarthy denied these claims, asserting that he will remain in Congress and work towards expanding the majority. The Republican majority in the House is currently gearing up to select McCarthy's replacement, with Republicans scheduled to vote for a nominee on Wednesday.

Steve Scalise and Jim Jordan are two Republican lawmakers campaigning to replace McCarthy, with Jordan receiving the endorsement of former President Donald Trump. Another lawmaker, Kevin Hern, has also expressed interest in running for the position. McCarthy's announcement has clarified his intention to stay in Congress and continue working towards the party's goals.