After helping to shepherd the tax cuts package into law, Senate Finance Committee Chairman Orrin Hatch, R-Utah, announced Tuesday that he plans to retire when his term ends early next year.
"Although I will miss serving you in the Senate, I look forward to spending more time with family, especially my sweet wife Elaine, whose unwavering love and support made all of this possible," Hatch, 83, said.
Published reports say Hatch's announcement leaves the door open for Mitt Romney to run for his seat.
Hatch's announcement comes just a week after Congress passed — and President Donald Trump signed into law — the Tax Cuts and Jobs Act, which Hatch called "truly a historic success."
The new tax law "will do a lot of good for a great number of people throughout our country," he said.